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Posted on November 24, 2021August 2, 2022 by srishti.dhir

Five important Vastu Shastra rules that a home buyer must know

Every person wishes to live in a house that brings peace, happiness, and prosperity and Vastu has a great roleRead Article

Posted on November 17, 2021August 2, 2022 by srishti.dhir

8 tips to protect yourself when showing your home

Selling a house can be extremely challenging and time consuming, especially when you have never done it before. It isRead Article

Posted on November 16, 2021August 2, 2022 by srishti.dhir

6 Interesting ways to turn your home into a smart home

Have you ever thought what life would be like without any technology? It is nearly impossible to even imagine suchRead Article

Posted on October 29, 2021August 2, 2022 by srishti.dhir

10 major benefits of RERA for the home buyers

In today’s world, every home buyer has all the legal rights to take a strict action against the injustice metedRead Article

Posted on October 27, 2021August 2, 2022 by srishti.dhir

7 checks you should do on your builder before booking an apartment

In today’s modern era, owning an abode is much more than just having a roof over one’s head. Most ofRead Article

Posted on October 22, 2021August 2, 2022 by srishti.dhir

Legal checklist for buying a standalone house or residential apartment

Are you planning to buy a house? Have you gone for numerous site visits and seen many properties before findingRead Article

Posted on October 19, 2021August 2, 2022 by srishti.dhir

8 common mistakes to avoid while investing in real estate

There is no doubt in saying that real estate is one of the most recommended and safest sectors to investRead Article

Posted on October 14, 2021August 2, 2022 by srishti.dhir

Important legal checklist for buying a property

Investing in a property is not an easy task as it involves a hefty amount of your capital and evenRead Article

Posted on October 13, 2021August 2, 2022 by srishti.dhir

Why you should not buy a house even when you can afford it?

Owning a luxurious, well-designed and expensive house still might be a dream to many people. Indeed, when you start earningRead Article

Posted on September 10, 2021August 2, 2022 by srishti.dhir

How Coworking Can Help You Strike The Perfect Work-Life Balance?

Are you someone who always cribbed about slogging to work early in the morning, but the last one and aRead Article

Posted on August 23, 2021August 2, 2022 by srishti.dhir

How To Get Funding For Your Startup?

Got the greatest startup idea of all times, but wondering how to get it funded? Well, just because you’ve gotRead Article

Posted on August 10, 2021August 2, 2022 by srishti.dhir

Why You Should Not Buy a House in India?

The stigma around not owning a house in India has been age-old. But, Gen Z is here to break oldRead Article

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1) Liability > Asset

You are buying a house in a good location by taking a debt against two people i.e. you and your spouse. Now the good part is, you have got a larger amount approved but did you try to see the flip side? This also means continuous employment for both you and your partner no matter what may come. Why? Because you took a loan against combined income and one person’s income may not be sufficient enough to pay the monthly installments. So, don’t you think it is better to rent a house in this case and be free from all the stress and tensions? Well, it is better to own an asset instead of a liability.

2) Renting is Cheaper

If the main objective is just to have a roof over your head, does it even matter whether you’re owning a house or simply renting one? Have you ever given it a thought that homeownership comes with its own set of obligations? While renting is comparatively way cheaper, and also leaves you obligation-free. You are not liable for the maintenance, repairs, house tax and so much more.

4) Everyone Else Is Doing It

Just because all your friends around you are buying a house and settling down, does not mean you have to do it too. Buying a house is a huge responsibility that is going to bound you for the next 15-20 years straight unless you have the entire money to pay in one go. You’d be much better and secure if you invest in commodities or mutual funds or even start your business venture. You don’t always have to be a part of the crowd to go in the right direction.

5) Little or No Job Security

It is not a wise decision even if you have a faint idea about your job being in trouble. Buying a house is a long-term commitment that also requires you to have a stable job. This is where most people go wrong. They end up taking home loans only to lose their jobs in the end and getting deeper into the debt trap. Again, renting a house would be much easier because of the lesser amount of money involved without any additional expenses.

6) Duration of Stay

Unless you’re planning to stay in the city for the next 8-10 years, there is no point in buying a house according to most financial experts. If you keep getting frequent transfers, renting is a much better option for you, unless you’re planning to buy a house for investment purposes. But even in that case if you’re eyeing yielding higher returns in a short period, think again. Because, for any property to fetch you returns, it takes somewhere around 7-10 years easily. Therefore unless you’re prepared to hold onto your investment for this long, it is pointless investing your money in buying a house.

7) Alternate Investment Opportunities

If you invest the same amount you plan to pay as down-payment of EMI on a house, it is better to invest in the Stock Market or Debt/Equity Investments. You will earn a much higher return on your capital. So, the bottom line is both renting and owning a house has their pros and cons. Undoubtedly, owning a house means you can modify, redesign and restructure it as many times as you want as per your needs and also the unmatched feeling of pride and security. But, on the flip side, you always have to be ready to bear any uncalled expenses and the ever-increasing maintenance costs over time. On the contrary, if you rent a house you can live more flexibly and also be in a position to manage your finances better because of a fixed monthly rental amount. The only disadvantage of renting is that the house owner calls the shots on both small and big matters. Whether buying or renting, we understand this decision is not an easy one to make. So, before you take the plunge, make sure to think through all these aspects and evaluate your finances beforehand.