What are some advantages of loans to first time home buyers?

What are some advantages of loans to first time home buyers?
1. The loan priving company does a valuation of the property before providing the loan. This helps the buyer know whether he is paying the fair price of the property.

2. The buyer doesn't have to pay rent for accomodation, so a portion of the mortgage payments help save rental costs.

3. Some countries (eg. India) have favorable tax laws on home loan principal and interest payments. The tax savings can be quite beneficial.

4. Good mortgage repayment record helps the buyers improve their credit history, which helps in getting higher loans in future.

5. The buyers, if staying in the mortaged property, can undetake home improvements according to their needs. This is not possible in a rented accomodation.

6. The buyer can take top-up loan against the property if the need arises.

7. Towards the retirement years of life. The buyers can go for reverse mortgage to support retirement years.

8. Brings stability in life, one may have to switch rental accomodation every 2-3 years for various reasons.

9. A home loan is a good loan as the price of the home generally appreciates over time. This is more prudent than taking loan for an asset (eg. car) whose value depreciates over time.

10. While the rental cost keep on increasing as years pass by. The home loan instalments stay more or less constant. Assuming a steady increase in income, home loan instalments' proportion to income keeps falling steadily.

Regards
Anuj Paul Gosain