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Dream Home

Owning a home is the biggest asset creation for average people. With a little planning and the right investments, you can reach your goal. However, it is important where you choose to park your money. Investing in mutual funds (MFs) can help in creation of wealth as well as assets. They provide you with the freedom of investing and tapping into funds for any goal that may be there in the short or medium term.

Owning a home is a compelling goal and saving for the down payment is a priority. Borrowing funds from friends, relatives or pawning valuables may not be the best idea for the latter. Plan early, so you don’t have to fall back on such sources. If your personal circumstances are right for buying a home, start by creating a savings plan. Get an idea of the purchase price and the monthly instalments you can afford. Estimate what you’ll need for a down payment which is usually 20 per cent of the home price. Thereafter, calculate the amount of savings you need each month for the down payment.

Buying your own home is one of the biggest and usually the most expensive financial goals that most people have. Investing in mutual funds can be helpful in planning and purchasing your dream house. Plan Now.

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