owning a home versus living on rent

owning a home versus living on rent

The debate of owning a home versus living on rent!

 

It’s a question that most Indians will ask themselves at one point or another in their lifetime: should I buy or rent a home (house/flat)? Those who take the rental often wonder if they’re wasting money. Meanwhile, those who buy wonder whether or not their investment will be worth it in the longer run.

Though it’s clear that owning a home offers many benefits, the decision to buy or rent is a personal one that is based on several factors.

Why own a home/flat in Mangalore?
  •  A sense of security, accomplishment and pride in home ownership.
  •  You need not face the increasing rentals in due course of time.
  •  It acts as a financial asset. Nowadays a flat in Mangalore offers great value as the city is growing day by day.
  •  There is quite a less likelihood of interference in your life, when you live in your own home be it a house or a flat.
Why rent a home/flat?
  •   Offers flexibility such as one being the freedom to change the residence as per requirements and desire.
  •   No maintenance charge is imposed on a rented house/flat in Mangalore; hence this can save a bit of you             money on monthly basis.
What to choose?

To rent or to buy, the question however tough it seems has a very simple answer.

You’ve crunched all the numbers and determined you can afford to buy and maintain a home or a flat that won’t break the bank or derail your retirement plans. First of all, good for you! Saving all that money is a big step!

Here are a few thoughts to help choose better!

One of the integral aspect, while considering buying or rent a home,e is location, which is the key to finding a great place to live, and you’re often likely to find a suitable area that you can afford if you rent. Sometimes the best thing is cities like Mangalore, offers both. Flats in Mangalore are available for rental and are also sold at affordable prices in centrally connected areas with warm welcoming neighborhood.

MARKET CONDITIONS: What is the economic value of real estate in your market? It’s important to understand how local factors may affect the commercial value before you decide to whether buy or rent. A flat in Mangalore often offers a good market value before and after purchase as well; which attracts many residents into the cities and suburbs.

QUALITY OF LIFE: Buying a home (house/flat) can provide a sense of stability and control that you don’t often get from renting. There is a great feeling about coming home to a place that you own, gives you a sense of achievement.

FREEDOM: When it’s your own home, there’s no need to get approval before you paint a wall or hang a piece of art. You get to choose what minor and major renovations you wish to make to the place you live in.

To conclude, there is a growing dilemma in buying or renting a home. Buying a home is always seen as a lifetime achievement, but changing lifestyle of people and recent trends have shown that people are willing to sacrifice this sense of pride for others they consider more important. Hence the real answer lies to the people themselves. Flats are growing to be a great option to consider for both the routes (buy/rent) as its offering several benefits of both the routes. A neighborhood is established as soon as a flat is occupied and maintenance is very affordable considering the location and the builders. Flats in Mangalore are exploring and expanding to different realms in terms for lifestyle, economics and so on.

 

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