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.
Check your Home Loan eligibility
Scroll to top