Mar 21, 2018
As the family grows/ kids get older or there is a feeling of space crunch, one thinks of shifting residence and moving into a bigger house. But then why shift from the house to a new location when one can avail home extension loan and reap a host of benefits. We list below a few benefits of taking a home extension loan:
You can avail a home extension loan from your existing lender or a new lender you choose. It does not involve cumbersome documentation as your documents are already verified by your lender. A home extension loan can be availed easily without much hassle
Since you are already settled in your house and are accustomed to the surrounding neighbourhood, it becomes a challenging task to shift to entirely new location in pursuit of a bigger house. But with a home extension loan, you can add a room or a floor in your existing house and meet your additional space requirement without having to shift.
You can avail the same tax benefits with a home extension loan that you get with your home loan.
Loan extension loans are also given for a long tenure just like a home loan. The repayment is also done through monthly EMIs.
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