10 Reasons Why Gifting a Home is the Perfect Festive Surprise

The festive season is here. It is that time of the year when family members come together to make cherished memories and exchange gifts as a token of love and appreciation for each other.

Nowadays, people plan for the long term and instead of buying small festive gifts, insignificant gifts for their loved ones, buy something with a futuristic value, like a house. Buying a home during the festive season and then unveiling the surprise to one’s family is a once-in-a lifetime gift that the whole family can cherish and enjoy together.

Let’s explore 10 Reasons Why Gifting a Home is the Perfect Festive Surprise

• Home is Where the Heart is

A home is a space that family members can call their own. It is a place where they live together, grow together, and create uncountable memories at different stages of their lives. It bears testimony to their joys and sorrows over the years. So, what can be a better festive gift for them than their dream home?

• A Legacy for Generations

By gifting a property, one can build a legacy that one can pass on to the generations to come. A home symbolises one’s love and commitment towards their family members. It will remain a part of their lives for years to come. Having a secured roof over their head will continue to instil a sense of pride and security.

• Financial and Emotional Security

A home is one of the costliest tangible assets one can buy in their lifetime. Owning a house, thus, ensures the financial security of the inhabitants. Even if the going gets tough in the future, they will have a roof over their head.

Additionally, having a home fosters a sense of belonging and togetherness among family members, making them feel secure and emotionally connected.

• Long-Term Capital Gains

Investing in real estate can be one of the best decisions one can make in their lifetime. The demand for housing properties in India is continually on the rise. As a result, the property prices are increasing exponentially. One can secure the financial future of their loved ones by providing them the gift of excellent capital gains on a gifted property.

• No Rent, No Worries

Rent payments prove to be a significant financial burden for many families. By gifting a property to their family members this festive season, one can free them from the burden of rent payments. Instead, they can save and invest that money to fulfil other financial goals and aspirations.

• A Sense of Achievement

Owning a house is a significant milestone in one’s life. It can instil a feeling of pride and achievement in the homebuyer and the entire family. It can go a long way in boosting their self-esteem and providing the confidence to do well in their lives.

• Empower Them for Greater Things

A gift in property law is defined as the transfer of an existing movable or immovable property voluntarily from a donor to a donee through a property gift deed. One can gift a property to their child to empower them for their future life goals.

• Tax Benefits

Gifting a property can provide tax benefits to both the donor and the donee. However, one may incur stamp duty and certain other tax implications. One can consult a financial advisor or an income tax expert to understand the potential benefits and obligations related to the gift tax on property transfer in India.

• Potential for Rental Income

One can gift a property to their family even if they already have a home to live in. Doing so allows them to generate a stream of revenue through rental income and use it to meet their various financial requirements.

• Freedom to Personalise

By gifting a house, one can provide the freedom to their family members to personalise and decorate their habitat as per their tastes and preferences. It is something they cannot do with their rented home.

To Conclude

Gifting a home to one’s family during the upcoming festive season can transcend beyond words. It can bring immeasurable happiness and financial security for generations to come.

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Disclaimer- This article is based on the information publicly available for general use as well as reference links mentioned herein. We do not claim any responsibility regarding the genuineness of the same. The information provided herein does not, and is not intended to, constitute legal advice; instead, it is for general informational purposes only. We expressly disclaim /disown any liability, which may arise due to any decision taken by any person/s basis the article hereof. Readers should obtain separate advice with respect to any particular information provided herein.