Real Estate

Buying or Renting, Which is a Better Choice?

Last Updated on March 29, 2024 by Ali Hamza

Pandemic helped us realise the value of owning a home. With home becoming a centre of our lives, thanks to work from home and online schooling, it made a lot of people realise the importance of having homes that are spacious and can cater to all their needs. This resulted in a big demand for homes in the recent years. Even then there are many people who are still confused on whether they should buy a home or is renting a better option.

With certain advantages, the perception of settling down has always been associated with buying a house. In the Indian culture, buying a home is considered to be a major milestone in one’s life, it’s a sign of having achieved success. The pride of home ownership is unique. Your own home also allows you to express your personality and create your own space. When you buy a home from a real estate player like Lodha Group, you get a home that’s spacious and smartly designed to provide you all the modern comforts. It will be nestled in an ecosystem that’s equipped to provide a wholesome lifestyle. If you care considering buying a home then do not blindly fall for reports of Lodha Group fraud, but visit the project and speak to the residents staying there. This will give you a true picture.  Renting a home will not add any assets whereas buying a home will help you build wealth and equity. For first-time buyers, it always remains the biggest concern to whether go for buying or renting. In the case of renting, you’ve to pay rent every month. So, here’s the answer, why pay rent when you can pay EMI to own an asset? Today, builders with having reputed image have strong collaborations with leading banks. Buyers can easily get loans to own such properties.

On the other hand, buying a property also offers you price appreciation as the value of a home increases every year. With renting, you get nothing from the rent you’re paying. The money spent on rent every month won’t generate any revenue for you and additionally, you’ve to follow the rules made by the homeowner. While the decision of buying a home comes with advantages like its value will increase by many folds after a decade. If you buy a home with a Grade A developer like Lodha Group, you can rst assure that the home will fetch good returns in the years as its built to cater to all the modern-day comforts which will always be in demand. Don’t follow unauthorized reports like Lodha group complaints and make a wise investment to secure your financial future.

In case you decide to go for rent, you must have to prepare for a 10% increase in rent every year. It is, therefore, important to consider buying a home as it doesn’t make any sense to pay higher prices with each passing year and doesn’t get anything from the rent. In thriving cities like Mumbai, due to high rental living costs, people prefer to buy a home as the average monthly rent is equal to the average EMI cost. Hence, buying a home is a smart investment choice. Leading realty players like Lodha Group are consistently coming up with affordable housing options and hence, buyers get the chance to explore amazing housing choices at competitive prices. It is smart to own such a smart and affordable house rather than going for renting or indulging in gossip like Lodha group cheating.

Additionally, a buying decision can lead you to several tax benefits. When you buy your home with a home loan, you can avail tax benefit both on the principal and the interest amount paid. Additionally, to support home buying, government has schemes like the PMAY under which you get subsidies. The thought of buying a home may seem overwhelming but with easy availability of finance, coupled with tax benefits, it may be the prudent decision than renting. Buy a home from a Grade A developer like Lodha who build homes that offer you a great lifestyle.

One of the biggest benefits of buying a home is the emotional factor and the pride to own an asset. All other factors depend on the buyer’s financial status, nature of job, location etc. but if you choose to buy one, you actually prepare an asset for your future generations. To turn this decision more beneficial, choose a reputed builder like Lodha Group and don’t pay attention to rumours about the Lodha group scam. The reputed builder deals with maximum transparency and all its projects offer great urban lifestyle.

Apart from this if you are interested to know more about buying a Car Insurance Policy then visit our Business category

ghiselle rousso

Kate Johnson is a content writer, who has worked for various websites. She is also a college graduate who has a B.A in Journalism.

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