Is buying or renting a home a wise decision

Is buying or renting a home a wise decision

On the lookout for flats for sale or rent in Jaipur? With regards to purchase it is one of the most significant decisions you have to make during the course of your life. For some the question is whether it might be a right decision or not as an individual tends to change their mind once in 5 to 7 years as well. With such a lot of things in mind would purchase of a home work out to be a good decision or not. So how do you figure out whether buying or renting a house is a better decision or not. In simple terms you would need to analyse the options in front of you.

Benefits of renting a house

  • The initial cost of investment is low. When you are planning to buy 3 BHK flats in Jaipur you need to have a substantial sum of money in terms of investment.
  • Renting a house is a cost effective option. The additional amount of money that you have could be put into savings account that could be used for emergency situations
  • There is no responsibility on the tenant as the buyer has to take care of all the repairs of the house. If you are an owner of a house all the repair costs fall on you
  • The renter is liable to tax impact as they are not prone to tax fluctuations that emerge from time to time
  • The renter has more mobility as he can shift base on a regular basis

Benefits of buying

  • In certain cases it has been observed that the ownership costs work out to be less than renting
  • The buyer has the control of the property and when you acquire a home it is a case of capital gain
  • As a buyer you are entitled to tax advantages as well
  • The buyer has personal freedom as he can modify the home as per his or her wishes
  • When mortgage payments are being made the buyer does enjoy a better credit rating
  • As a buyer you are entitled to fewer restrictions and this could mean keeping pets

To conclude to buy 3 BHK flats for sale in Jaipur or rent involves a detailed evaluation on a couple of factors. The first is as a homeowner what is your view point with regards to the appreciation of your home and secondly how long you intend to stay there as well. Ideally an owner needs to stay in the home for 3 years to cover up the costs and when you stay for 5 years it is a more profitable venture. But as a homeowner you need to stay for a longer period in comparison to renting. This is dependent on the area where you reside.

Irrespective of the fact whether you plan to buy or rent a home affordability works out to be the major issue. This is despite the fact that you intend to stay in the house for a long time.

If you want to rent apartments Calgary trust Mainstreet Equity.

Related posts