While owning a home is typically the dream of every Indian, sky-rocketing property prices especially in metros have led people to opt for renting rather than buying. However, for people who can afford to buy a house, the choice between buying and renting is always a tough one. In the Indian context, it is observed that people who can afford to buy a house tend to put more weightage on owning a house, and renting is mostly a compromise.
Let's calculate the difference between them on the basis of some parameters:
These are the foremost basis on which we can conclude that buying a house is more beneficial than renting one.
Now, here are some advantages of buying a house mentioned which will surely Direct your mind towards the Same.
Buying a home is an investment that gives you pride and satisfaction. When you are deciding to live in a city, for a longer run, It is not beneficial to rent a house then, as this will result in spending huge amounts of money and not getting any long term benefits which can be achieved by buying the house and ending up owning a property.
Talking financial benefits, comparison between Buying a property and renting a property can be made on the following terms:
To compare owning vs renting, the first step is to calculate the investment returns on the down-payment and other related costs that one incurs upfront while buying the house. The second step is to calculate the investment returns of the difference between the EMI payments and the rent over the entire duration of ownership.
. The return or efficacy of owning vs renting is largely dependent on market conditions. In rapidly-rising real estate markets, owning makes more sense. concluding this comparison, we can say that buying a house is far better than renting one .
Here we at Oro constructions, come forward to provide you a helping hand to make your dream come true.
We have made your dream house, which will surely come up with your expectations. We have introduced our Oro city - Lucknow project, exclusively for all people craving to own a house.
Not only this, but the homes designed are also with good and fresh surroundings, more facilities, and pocket-friendly amounts. It’s LDA approved township that happily resides near the well-developed Jankipuram Colony.
We welcome with gratitude to provide us the opportunity to fulfill your dreams and help you make the right decision.