Home Loan at an early age benefits more. Ask why?

A home loan is called a ‘good’ loan because it helps you acquire a tangible asset that can appreciate over the long term. Photo: iStockphoto


It is not without reason that our parents buy us a piggy bank when we are young. Our joy is unbounded. This joy in turn is also reflected on our parents’ faces when we cling on to our new found toy even when we retire to bed. Now, we have all heard of ‘after-sales’ service but this piggy bank story is uniquely one of an ‘after-purchase’ service which only our dear parents can give us.Yes, after-purchase service because the gift doesn’t end with the purchase of the piggy bank. After gifting it, our parents also give us pocket money to fill the bank and imbibe the saving habit in us at a tender age which snowballs into a considerable amount maybe to buy a bicycle later.


Starting a Home Loan early is no different from this story. When we start a Home Loan at an early age and when we start paying the EMI from then, we just don’t fulfill the aspiration of owning a home but indirectly develop a saving habit because we are not actually ‘’spending’’ the amount but are “investing” it. Moreover, the value of our home will start appreciating.


Benefits and advantages of a Home Loan begun at an early age:


  • We tend to spend much on materialistic things when we are young that tend to depreciate value wise. Even small amounts spent, sum up to hefty aggregates. Paying a Home Loan EMI will arrest unnecessary expenditure right from the time when we are young
  • We develop a sense of responsibility and commitment to our own selves and towards our family from an early age
  • We develop a sense of accomplishment as years go by
  • We are respected and looked up to even by our elders for our foresight and our bold step towards realizing our dream of owning our home at a young age
  • The earlier we start a Home Loan, the longer is the eligible period of repayment and smaller is the EMI amount, as, it spreads over more number of months. This, nullifies any harsh impact on our pockets. What’s more, the chances of getting a Quick Home Loan will be more by our side when we start early
  • When we start a Home Loan early, we can be free from our repayment obligation earlier than our retirement from work. Thus we can enjoy a worry-free and contended life when we turn to become senior citizens.


These are some of the many Home Loan benefits when we start early in life. Well begun is half done. A Home Loan begun at an earlier age bears its fruits early which we can enjoy in future even when are in the pinkest of our health.


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