Why Is Buying A Home Better Instead Of Living On Rent?
The difference between buying a home and living on rent is a lot. At the same time, many homebuyers believe in owning a home while others believe that renting is a better option.
However, renting a home is not always beneficial. It may look like an investment or a better saving, but in reality, it is not. Renting a home is like purchasing a product with a limited time period, on the other hand, purchasing a home or owning it is like investing in your current and future lifestyle.
Let’s talk about some compelling reasons why buying a home is better than living on rent.
Investing in a home of their own is a dream for many. Especially in a country like India, purchasing a home in a city like Jaipur is a matter of investment. Moreover, many people invest in property with the sole purpose of long-term investment.
In such a scenario, renting may not always be a preferred option and thus buying a home is better. Let’s look at some more reasons why you should not go for renting and think about buying an apartment instead.
Purchasing a home can be looked at in two different ways. First, an expense just for living in it, and second, an investment for the future as the value of the property will go up in the future. And even if you want to sell it, you will be in profit as the property value will always appreciate. Moreover, having your own home can generate additional income in the form of rentals or paying guests.
In a rented home, you can’t do any interior or try renovation of your own choice. However, on the other hand, if you own the home, you can change the interior according to your and your family’s preference and will. For instance, extending a room, changing the décor, changing the color, and much more.
The number of rental properties is limited and be at a location that does not suit your needs. Unlike renting, if you are purchasing your own home, you can choose the location based on your needs.
Maybe your preferred location is near your job location or near your institute or your kid’s education center. At this point, you are free to select a preferred location.
If you are opting for a rental place, it may not usually be negotiable, but if you are willing to buy a home as an owner, then the prices can be negotiated at the will of the broker.
By owning a home, you will have a sense of security as owning a house often conveys a sense of permanence and stability to homeowners. If you intend to buy a home or wish to start a family, buying a home is a better option.
Housing costs and rents tend to outpace the rate of inflation. If the inflation increases, so do the rate of the rented home. Thus, by owing a home, you can save yourself from each year of increased rates of rent that in turn increases your savings.
Home equity also allows the owner to profit from selling the home and apply the money toward a new home. Therefore, the equity build-up and the appreciation in the home helps in the move-up to the second home. It gives you the credibility for another home.
The benefits of purchasing a home are not always in terms of investment and gains, the pride that comes by buying your own home is great, and would rather be on the top of this list. Owning a home indicates your success, your status, and also it is an investment for the future that provides both security and stability.
Most people prefer rentals over buying a property due to their lack of information and the false myths behind buying a house. Now that you know the benefits of owning a home, you can just choose a property that checks all your needs of buying a home and Shubhashish Geeta gives you precisely that. The 2,3 & 4 BHK apartments are located in the Medical Hub Mansarovar Extension, (Present Jaisinghpura Road), Jaipur, and harbors all the facilities that you need.
So, what are you waiting for? Plan a site visit and buy your own house today with Shubhashish Homes.
