Buying or Renting???

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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:

  • Rents are monthly expenditures done without actually owning the house Whereas owning a house will father give you the opportunity to own the house.
  • The amount paid as a rent along with the interest is basically greater than the EMI’s of the house bought.
  • You can officially claim the property as yours when you buy a house whereas you cannot claim the property and yours is on rent.

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.

  • The biggest issue with renting a house is the landlord hassle. when you buy our house this issue is eliminated.
  • The second most important aspect is emotional security, which comes from buying your own house so that you can provide space, comfort, and security to your family and loved ones.
  • There is no uncertainty, or we can say that the fear to lose the house, or the tension of renewing the agreement is not present.
  • There is no need to pay an extra amount for the maintenance for the house or security deposit in case of buying the house.
  • When you buy a house most often it is bought keeping all our expectations in mind, on the other hand, we may compromise with the location, size of the house when we rent it.
  • Owning a house nowadays is not that big deal as we have various institutions always ready to provide lending hand forms of loans and debts. We can easily go for financing the house and pay the EMII’s rather than rental amounts.
  • Additional to this, there is the benefit of tax breaks when you own a house that is deprived when you buy one. there are a large number of profits when we compare buying a house with renting a house. The points stated above mainly drag your attention towards a new dream house.when we compare both the variables on the basis of the creation of liability and asset, we come to the conclusion that buying a house will probably add to our asset whereas renting a property will Turn out to be a liability.

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.