Updated: Aug 23, 2022, 14:57 ISTShare:
Once you move to a bigger house, you can rent out your previous home and earn a passive income, run a business from your old place or keep it for your ageing parents. But why would you shift to a bigger home? Here are our reasons.
1. Increase in Income
A new job or a promotion means aiming for more comfort. A bigger house will let you have a den, a separate entertainment area, a home-office and more. Take a home loan, fasten your savings and reap tax benefits. Ensure enough funds for the down-payment and EMIs.
2. Growing Family’s Needs
You may be getting married, having a baby or simply need your parents to move in and all of a sudden you realize that you need more space. You can accommodate all of these needs by shifting to a bigger home and ensure privacy while still being there for each other.
3. Remodelling May Not be Enough
Remodelling can be a good idea to upgrade your home but remodelling a 1BHK won’t solve the space-crunch. A bigger home will warrant a smoother work-from-home situation where each family member is given his or her own sweet space.
4. Seeking Better Quality of Life
Space constraints can result in a disorganised home and make you feel claustrophobic. A dedicated workspace, hosting guests, having designated spaces for home appliances, shifting to a bigger house can really improve your quality of life.
To know more about upgrading your home or getting home loans, read other ICICI Bank blog posts.