You and I, both dream of having a Perfect Ghar. A home that makes things happen, like a dream come true. But aren’t we all lost in our thoughts whether to buy or rent a home? People with more potential in terms of financial matters will love to own a beautiful, luxurious home but will fear the high property rates. Whereas, when it comes to the tenants, they love the flexibility of moving to different places but here, the landlord with a mere three-month notice period will ask them to vacate that do not let them take a firm decision. Here’s where you will get to know whether to rent or buy a home.
What happens when you rent a property?
1. For the people who like flexibility, renting a property is the right choice. Choosing a property based on personal choices is all that you would want. One can afford a posh locality, a luxurious look, and feel of the home, an extra room with just a little extra rent.
However, the expenses of renting an apartment will only be a burden in the coming years because the steady increase in inflation rates will only lead to higher rates. To spend so much on a home that isn’t even under your ownership is a task.
2. In the case of youngsters, renting a home would be a better option because you can use your savings elsewhere like education, traveling or maybe just by owning a car. A huge investment in buying a home would be a great risk factor as it would tie down all the savings to a single investment.
The problem arises when the landlord asks you to vacate the home anytime. No matter how well settled you are in your rented home, how close your neighbors are, you will have to leave. The thought of finding a home with the same benefits is definitely not a cakewalk.
What happens when you buy a property?
1. With the inflation rates reaching heights, it’s always a dream for each one of us to own an apartment. Investing in real estate is the best way one can utilize savings. It gives you stability and you can move off as per your preferences.
On the other hand, investing in real estate is a long-term financial plan. Even after owning an apartment, the ongoing expense of maintaining the house will remain constant.
2. The freedom of renovating your home, making it as colorful as you want it without seeking anyone’s permission is one reason you would want to own an apartment. No one to question you whether or not to drill nails, or to break down a separating wall.
In spite of all the plus points, the home loans to be cleared with high rates of interest to be paid makes a buyer rethink because of the monthly installments.
3. Real estate is one of the best assets to invest in. The property prices have only been increasing over time with a higher return on investment. Buying a property in a developing locality is a bonus as you can enjoy the returns as the neighborhood develops.
However, we cannot deny the fact that investing in real estate, all your savings will be jammed in one asset making it really tough for you to invest in other things like education, gold, traveling or shares.
4. Renting the property out is an additional benefit as it gives you an extra monthly income that can also be used to pay off your home loan EMI.
It is always the right decision to invest in real estate until and unless you are planning to reside in that city over a period of ten to fifteen years as it is a long term investment.
There are always pros and cons to anything and everything. It is just about making the right decision. Renting or buying a property is your call based on your investment plans. How about investing in a perfect home for a perfect you? Sobha Dream Series is the one that will help you own your Phela Perfect Ghar. A luxurious living home with high-end facilities that will make your life easier and everyone in your family happier.
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