Following RERA and GST, the real estate sector has seen consistent growth in sales and revenue. However, the age-old question of whether buying or renting a home is the more cost-effective option continues to dominate many group discussions and friendly banter. Potential home buyers enjoy the idea of owning a home but are put off by the high property rates that come with it. Tenants, on the other hand, enjoy the flexibility of renting a house but should be wary of moody landlords who may ask them to vacate with only three months' notice. So, which option is preferable? Should you rent or buy? Let us investigate.
Renting a property allows you to be flexible. You can select the property based on your personal preferences. With a little extra rent, you can even afford a nicer neighbourhood and an extra bedroom, which would be too much of a luxury if you were planning to buy a home.
All of your savings will not be tied down to a single investment with a rental plan. This is especially true if you are young and can use the savings for other purposes such as education, travel, or purchasing a new car. Furthermore, by distributing your investments, you will reduce the risk of spending all of your money on a single large asset.
All of your savings will not be tied down to a single investment with a rental plan. This is especially true if you are young and can use the savings for other purposes such as education, travel, or purchasing a new car. Furthermore, by distributing your investments, you will reduce the risk of spending all of your money on a single large asset.
The disadvantage of renting a property is that you may be asked to leave at any time. Even if you are completely settled in your rented home and adore your neighbours and neighbourhood, your landlord has the authority to request that you vacate with little notice. It may be difficult to find another house with the same benefits.
Investing in real estate is a dream for many families, especially with the increased demand for ready-to-occupy apartments. Buying a home, as opposed to renting one, provides stability. You will be living in your own home and will be able to move out whenever you want.
You are also free to live your life as you see fit. You can renovate your home, add a fresh coat of paint, seal a connecting door, or knock down a dividing wall to your liking.
Whether you want to buy an apartment or a villa, investing in a house is the best option. Property prices rise over time, providing a higher return on investment. Even better, you can invest in a developing neighbourhood and reap the benefits as the community grows. Check out our blog on the top 7 residential localities in Bangalore for a list of fantastic areas to invest in.
You can also rent out the property for extra monthly income or use the cash flow to pay off your home loan EMI.
Real estate investment is a long-term investment strategy. Not only will you reap the benefits after an initial buffer period, but you must also be prepared to bear the ongoing expense of house maintenance.
Despite flexible home loan plans such as fixed home loans and floating home loans, high interest rates cause prospective home buyers to reconsider the monthly payments they will be required to make.
By investing in real estate, you will lock up all of your life savings in one asset, making it difficult to invest in other mediums such as education, gold, or stocks.
Real estate should be purchased only if you intend to live in the city for more than ten to fifteen years, as it is a long-term investment. Brigade Valencia
Bengaluru, Karnataka
India
Bangalore