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Home Loans: Festival Season Calls for the Rising Demand

Home Loans: Festival Season Calls for the Rising Demand

With the festive season just around the corner, there’s an increasing clamour for real estate investments. And rightly so! After all, a new home only adds to the celebration and joy.

Therefore, financial institutions are witnessing a significant demand for housing finance and are leaving no stone unturned to attract more buyers. Lenders are extending exciting home loan offers, including affordable interest rates, flexible loan terms, simple eligibility terms, and more.

Whether you want to buy a new house, renovate or extend your house, or invest in new office space within your existing home, a housing loan will help you fulfil your dream. Read on to know how you can use housing credit this festive period.

Build your dream home

While a fully constructed or pre-owned house is always in demand, many homebuyers prefer to construct a place according to their wishes and desires. As a result, the market is rife with housing loans tailored for the construction of your new house.

The loan amount includes the plot’s cost and depends upon a rough estimate of the construction costs. The terms for a home construction loan differ from a home loan, so it is important to compare multiple offers before applying.

Purchase a plot

Nowadays, you can also get loans to buy a plot, especially during the festive season. It can be an excellent purchase decision, as it gives you a choice to either build a house or make an investment in residential properties. You can easily get a loan up to 85% of the cost of the land at affordable home loan interest rates.

Additional Read: 5 Tips to Close Your Home Loan Without Facing Any Complications  

Extend your home

Planning to add an extra room or balcony for your growing family? You can do all that and more using your home extension loan. Loans for house expansion allow you to make additions or structural changes to your house.

Go for a festive makeover

The festival season is an excellent opportunity to spend time with your friends and family. While you are planning to invite them over, is your house ready to host them? With home renovation loans, you can remodel or repair your house. You can use these funds for home improvement, internal or external repairing, painting, and more.

Besides, you can bag great deals on housing renovation loans during this celebration period.

Take a step back to consider

As the market brims with various festival season offers and loans become more affordable, undoubtedly, you’d want to grab the opportunity at the earliest. However, it’s prudent to consider the following points before you approach a lender.

  • Conduct proper research about current property rates and deals
  • Before applying for a loan, prepare a budget and stick to it
  • Compare repayment tenure, interest rates, EMI payment plans, etc., across lenders
  • Understand the hidden charges applicable

Additional Read: Trends in India’s Home Loan Market

Looking for housing finance this season?

Tata Capital offers custom housing loans at the most competitive interest rates to fulfil your various funding needs. Enjoy benefits like quick loan processing, flexible tenure, and home loan eligibility. Check out our home loan EMI calculator and get an estimate of your repayment costs to apply today!

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