Not necessarily. Home loan is a loan which is taken to create a long term asset. Concentrate on retiring high cost consumer oriented loans such as vehicle loan, personal loan, if any. Also, ensure Credit Card is paid within the due date. NEVER EVER carry forward the Credit Card dues.

Home Loan with a tax saving kicker effectively reduces the actual interest rate that a home owner actually incurs. This results in a substantial savings in the long run.

Home Loan is an excellent vehicle to fund a real estate purchase.