Renting Vs Buying Your Own Home. Which One Is The Better Option?

Renting Vs Buying Your Own Home. Which One Is The Better Option?

To be the owner of your own home is the ultimate dream for almost everyone. However, buying a home these days means a lot of investment but not just monetary but time and energy as well as not forgetting the emotional investment you make. Many prefer to rent a house in a way it’s very flexible, one can shift from one home to another without much of a hustle. But, in terms of finances renting a house is a task, a huge sum of your earning goes in rent and savings go for a toss.

Also when you rent a house you often face a lot of uncertainty in terms of rent pricing each time your lease is up for renewal. Then there comes the question of maintenance and repairs as with most cases is often seen through by the landlord himself which means that it may never be done on time leading to frustration and stress. You should try and visit once for a site in Kandivali its exclusive upcoming residential project by kalpataru: kalpataru elegante kandivali east.

We also can’t decorate or rearrange the house as per our wish as we need to take permission from the landlord even for the smallest change, the landlord may outright reject any request for changes or alterations. After a point renting a home can be tedious as to how much can one shift from one place to another as moving and packing is highly stressful, time-consuming, and tedious work.

Whereas, owning a home comes with a lot of advantages such as a sense of security, and pride of ownership. Not forgetting it’s a different sense of accomplishment when it comes to owning your dream home. You can design it, decorate it, make alterations as per your will, with nobody to stop you, or to seek permission from. You are completely in control in terms of decisions to be taken when it comes to your own home.

With your own home, you no longer have to worry at the end of lease expiration as to whether you want to extend the lease at the same place or look for a new home.  Of course, owning homes means home loans and EMI’s however if you are smart enough with your financial planning and savings then you can pretty much manage the burden of monthly EMI’s. Bank Suvention scheme for kalpataru elegante Also once you complete the EMI’s the house will be yours permanently and you can proudly list it as your asset.

What options are best suited for you completely depends on your Goals and Vision that you have for your life and the kind of lifestyle you want to lead. If your life vision is to own your dream home then you must start preparing yourself early on to buy that home for yourself. However, if you are the wandering kind who loves to travel and wander from one place to another and does not like settling in one place then renting would be the best choice for you. Remember when it comes to Buying or Renting it’s not just the financial aspect but also the emotional aspect as well.