Lifestyle changes all over are forcing many to look for alternatives for economic stability and this is the right time to consider financial schemes like reverse mortgage. With over all rising living expenses people, realize that in their old age they would prefer to have a little extra cash to fall back on.
Even though the concept of reverse mortgage for homes might take a few more years to gain acceptance in Kerala it is a concept that is worth preparing for. There must be some wise early planning for financial schemes like reverse mortgage to have any practical value. If the property value held by the borrower is low then the mortgage amount will also be low.
Therefore, ensure your Kochi apartment has a potential to grow with the years and will be a means to earn you returns while you continue to stay and enjoy it for the rest of your life. Generally Kochi Apartments build by reputed builders are also well located. This means that the apartment will fetch you a reasonable income in the old age.
Apartments and flats are always major investments so invest wisely while you are still able to earn so that in the later part of your life you can be assured of a considerable amount of regular income through your apartment. In this sense, a wise investment in an apartment will be equivalent to money deposited in the bank.