Why buying is better than renting?

Owning a house is the dream of every individual. Before buying, we ought to do an appropriate investigation of the upsides and downsides of purchasing a house. Putting resources into a home or property is an important choice both monetarily and intellectually. You ought to have the option to confront the disadvantages along with the advantages of owning a home.

In this article, let us discover Why purchasing a house is better than renting. This article gives complete view between renting and purchasing a house.
 

Why people rent a house?

  • Close proximity to office location.
  • Frequent job/work related transfers.
  • Fear of paying huge EMI’s towards housing loans.
  • They haven’t found right property that fits their needs and budget.
  • Fraud and complications involved in home buying process.

Disadvantages in renting a house:

  • Unpredictable rent hikes and changes. You can never know about a sudden rent hike or changes in maintenance charges.
  • Forced eviction sighting unethical reasons.
  • Your HRA might not be sufficient and you need to spend from your pocket.
  • Unreasonably high rents in metros and tier-1 cities.
  • Unacceptable rules from landlords and housing societies.
  • Issues with landlord and unfreedom to spend quality time.

Why you should buy a house?

  • You get the advantage of owning an quality asset.
  • Your home is your long-term investment.
  • Security and perfect financial planning post retirement.
  • Get rid of rental burden.

What are the benefits of home ownership?

  • Better social status and financial security.
  • Advantage of owning an long term financial asset.
  • Exponential growth in asset value.
  • Tax benefits of owning a home.
  • A pride of ownership and sense of belonging to community.

Owning a house builds steadiness. It will help you stop briefly and notice life encompassing you. It will enhance your personal satisfaction. Owning a house builds steadiness. It will help you stop and notice life encompassing you. It will enhance your personal satisfaction. Your family will also feel a conviction that all is good and invest in their accomplishments alongside you.

 

 

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