When we got married, our first priority was to buy a home. We collected every rupee, postponed the purchase of a few necessities and booked an apartment. This was the mature thing to do. Though, later we realized that buying a home is a very complex decision. There are many other factors involved in it, besides investment. Ask yourself the following questions before deciding which option is better for you - renting or buying
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You put forth the right questions Saru, I rented an apartment in bangalore as I wasnt sure if I did be there and then later on bought one when I had sufficient funds. While home loan has its tax benefits these days it's more abused and I never prefer it. The real estate industry and builders have become notorious, they want 100% funds upfront even in under construction buildings and if delayed do not pay penalty in such cases if a person is on loan,he ends up paying emi and also stays in rental apartment till building is complete.
ReplyDeleteVery pertinent issue especially for young people on the lookout for a house and equally well addressed, Saru!It is never easy to buy one no matter at what stage one takes the decision to buy a house.
ReplyDeleteBuying home is definitely better as the rented one never resides in your heart. Only your own home can give you your share of land and sky. :')
ReplyDeleteI personally think buying your home is the best decision, which I took myself. yes it has its issues but then OWN home is OWN HOME..
ReplyDeleteBikram's
Thanks for sharing this... Buying home is a big decision.. And it is always better to do it now than later I guess...
ReplyDeleteBuying home is a better than renting to me. But every decision has its own up & downside.
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Builders are exploiting the vulnerability of people who need to buy a house after saving enough money and govt also supports the builder better than the buyer. I would ideally like people to stay in their ancestral homes and work for the betterment of their community.
ReplyDeleteVery well explained.
ReplyDeleteLooks like with the changing support price and laws in India, renting is good (my views though).
Absolutely that too in the metro cities it is next to nightmares to go for a home.
ReplyDeleteBuying your home is very often a good investment.
ReplyDelete@Everyone - Thanks for reading and sharing your views. :)
ReplyDeleteI would anyway want to buy a house first and feel better. It's a pain looking for a new house and lease all the time...
ReplyDeleteI agree.
DeleteHello, this is really needed for many even for me.
ReplyDeleteGlad you found it useful.
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