While being a homeowner is every Indians dream, skyrocketing prices in recent years due to escalating appreciation of properties has led to a lot of people to opt for renting options. However although this may be the case, if one is ready with finances in order and is confident about the city of choice to own a home in. There is no better option than buying a home. Here we will discuss Buying A Home Vs Living On Rent, Which is A better Option?
Advantages Of Home Ownership.
- Sense of social Security.
- The Pride of Home Ownership.
- Appreciating rent values are no longer an issue of worry.
- When buying with an EMI, Future costs are fixed and predictable.
- Less likelihood of interference in your livelihood
- Can generate additional income in the form of rentals or paying guests.
- In the long run EMI’s are much more reasonable and can be recovered.
- A tenant may be asked to move out of a rented house at any given time which is not possible if your a homeowner.
The Decision: Buying A Home Vs Living On Rent
Experts advise youths who are willing to lock in and stay in a city and work to consider buying a home in the early stages of their career. The reason being that although it may initially be rough over time with their increasing salaries and the fixture over their EMI will make it easier to pay off. Moreover, in the years to come the price of their own home would appreciate multi-folds.