People who have come to a large city for their jobs and have been renting a house or an apartment for years, often ponder over whether they should continue renting or move towards buying their own place to live. Both the choices have their separate sets of pros and cons. Renting is cheaper but you live there without ownership, on the other hand, buying a housing strips you off with a large amount of money but you at least have a place to call home.
While the public opinion in India supports buying a house instead of renting it, a few individuals (especially the ones always on move for their jobs) prefer renting. In the end, buying a luxury apartment in Jaipur or renting one is always a personal choice. But let’s see what we find when we look at them considering the economic, emotional, future-proof, and social pressure concerns:
Renting a House: Advantages
From the point of flexibility, renting is definitely has its advantages. You don’t need to think twice before changing your neighborhood if the time calls for it. People who don’t like a bundle of responsibilities, seem fine with renting. Moreover, since you can still have some leftover money, you can direct it to other investments.
Renting a House: Disadvantages
The freedom a tenant gets in his or her rental property is always limited by the rules the landowner sets. The money you spend every month on rent may seem like a useless expense because it won’t generate anything for you. If inflation hits, the rent amount may suddenly increase. Moreover, emotional satisfaction is always at its minimum in a rented house.
Buying a House: Advantages
Buying a real estate property is considered an asset instead of a liability. And, a very good asset indeed. The value of the house you buy will increase by many folds after a decade. As the owner of the apartment or villa, you can have complete freedom to make any changes to it or live as you seem perfect. If you move out, you can always rent it out and earn a steady income.
Buying a Property: Disadvantages
Buying a property needs a large sum of money at once. That means you won’t be able to invest in other areas for a while especially if the loan amount is big and the monthly dues are high.
Considering the pros and cons of both the options, it’s very clear that buying a house is and will be a far greater choice in India today, and in the years to come. And it is because of the booming real estate market in India, the increasing value of houses & and apartments, and the feeling that you have something that you can call your own home.
About Shubhashish Geeta:
Shubhashish Geeta is a ‘Resort Theme’ gated community that features luxury flats in Jaipur with amazing amenities including big balconies, corner apartments, and a huge living area. 21,000+ exotic trees and plants, solar panels, smart water meters, and car charging points make it a beautiful, eco-friendly gated community that is perfect for adults, kids, as well as elderly. You can undoubtedly consider buying your dream home here.
Contact: 7413 99 33 99
Address: 200ft. Jaisinghpura Road, Mansarover Ext., Jaipur