Buying or Renting: What Should You Opt for?

Apr 12, 2017 Share

Planning to shift in? Confused about the type of possession? While buying a house may give you a huge financial stability, renting a property may provide you with a fiscal flexibility. Still, when time comes to get your own place to live, purchasing a house is something that strikes people’s mind on the very first note. However, this post is going to give you a valuable insight about the same and help you with the process.

When should you consider buying?

Are you going to start a family? Want to get married? Or, thinking of having children? Well, these are the common reasons why people need a house of their own. Apart from providing you with a huge financial asset, a purchased house always hems you in a financial discipline. The EMIs will actually put off the lenders from dissipating your money. Also, the fact that the net value of a property increases over time would act as a stimulator to boost your net worth. Moreover, financial security is one of the main things to consider while purchasing a home, as an owned property will never give you the tension of moving from one house to another as soon as the lease agreement ends. Last but not the least; a purchased home, flat or apartment would always give you a sense of stability, thereby providing you with a greater peace of mind.

When should you consider renting?

Do you have a job that makes you travel a lot? If yes, then renting is always a better option than buying. Not being tied down to a home not only makes it easier for you to take up the stand, but also opens up a number of opportunities for your career mobility. At the same time, you might not be having enough money to opt for a mortgage loan that requires a down payment of at least 10-20%. In such case, renting is always a wise option, or you may finish off with a huge amount of debts at stake.

Take the right decision at the right spur of time!

To conclude, you should only buy a house if you are going to stay in the locality at least for quite a few years. If you have any such plan to relocate in near future, it would be better not to opt for a purchase. Also, in case, you are working in a sector where employee dismissal is quite common an affair, renting is always a good pick, as there will be no liability from your end. Last but not the least; provided the interest rates on home loans are quite high, you should always seek the experts’ advice or check several online portals to come with the right decision.  

Share Your Comment 0 Comments

Investment Opportunities

  • Price on Request
    Ganga Platino III , by Goel Ganga Developments presenting premium 2 & 3 BHK XL Residences in Kharadi, Pune. Luxurious livin...
  • ₹ 66.72 L - ₹ 73.27 L
    Overview Nyati Elysia II, a residential project by Nyati Group offes 2 BHK premium homes in Kharadi, Pune. Experience the harmo...
  • Duville Riverdale Heights, by Duville Estates, presents an array of 1 bhk & 2 bhk new launch flats at Kharadi, Pune. An ideal...
  • Price on Request
    Purvankara presents Purva Silversands 1, 2, 3 and 4 bhk apartments project in Keshav nagar, Pune which is a project spread across...
  • Vascon and Clover Builders brings to you Forest County spacious 2 bhk and 3 bhk new launching apartments in Kharadi, An 18 acres l...
  • Price on Request
    Vascon and Clover Builders brings to you Forest County 2 bhk and 3.5 bhk under construction apartments in kharadi, An 18 acres lu...
  • ₹ 65 L - ₹ 85 L
    Godrej Properties Launching Pune’s first community dedicated to Healthy living, Godrej Rejuve at Keshavnagar. A remarkable p...
  • Price on Request
    Vascon Forest Edge developed by the Vascon Group, the under construction residential apartments in kharadi with wide range of amen...
  • ₹ 62.6 L - ₹ 98.06 L
    Overview Gera’s Misty Waters by Gera Developments Pvt. Ltd., is a residential venture that consists of 2 BHK and 2.5 BHK...
Disclaimer - The particulars contained on the mentions details of the Projects/developments undertaken by the Company including depicting banners/posters of the Project. The contents are being modified in terms of the stipulations / recommendations under the Real Estate Regulation Act, 2016 and Rules made thereunder ("RERA") and accordingly may not be fully in line thereof as of date. You are therefore required to verify all the details, including area, amenities, services, terms of sales and payments and other relevant terms independently. FourrWalls does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the information contained herein. You are advised to conduct an independent verification before entering into any transaction.