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Fixed Deposit for Home Expenses

Buying a home or renovating one is always an expensive affair. That down payment for a new one can drain your savings, and a makeover can set you back by 4-5 lakh. Add to that the hidden repairs in your old apartment. A corpus of fixed deposit (FD) built over the years can cover such expenses. You can use the interest income to pay for repairs and renovation.

Read more about Fixed Deposit

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BUYING

Your house loan may cover only 80% of the entire cost. To pay for the remaining amount, brokerage, stamp duty, and other associated costs, you can get a personal loan.

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RENOVATION

We all occasionally wish to remodel our bedrooms or purchase a new couch for the living room. As kids get older, they might require their own place. You would not want to skimp and make mistakes.

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FURNISHINGS

Sometimes all you need to transform your apartment into a luxurious home is some furniture, upholstered pieces, and lighting. These things were difficult to find ten years ago. Now that all of these items are freely accessible, you could truly indulge.

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MAJOR REPAIRS

Every five years, a home needs major repair. You might need to work with civil contractors and an architect. Depending on the size of the residence, these repairs could cost anywhere from a lakh to ten lakh.

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HOME SMART

Your friend recently upgraded his flat to a smart house, complete with voice-activated lights, wireless heating, and remote security. Consider getting a clever makeover.

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