It is everyone’s ambition to buy a home, but the prospect of paying the expenses hampers it. The question that everyone faces is whether to rent or to buy on EMI?You may hear from quite a few people thattaking an apartment or flat on rent is preferable then buying one but, in the long term, you will end up paying rent every month without producing any tangible asset, and in fact, you will wind up paying more than the actual price of the property. In last few years, RBI has decreased the interest rate on housing loans from 9 per cent to 6.7%. It is the ideal opportunity for first-time investors to contact leading builders. Top builders in Noida and other developers of NCR are also offering lucrative schemes to home buyers.
Owning or buying a home is one of the biggest decision a person takes in his lifetime. A sense of pride and honour is attached to the feeling of living in your own home. There is more freedom of doing things, renovating, decorating.It’s considered to be a dream of everyone to live in own home without having any second thoughts.
With your own home, you are no longer responsible for choosing suitable properties for rent, negotiating with several parties, or dealing with the general difficulty of living on rent. There are no uncertainties around you while you are living in your own home. Your EMIs will remain the same until the loan is paid in full, but you will still be able to meet your necessities.
Instead of paying rent, you gradually establish an asset for yourself if you pay the EMI on your house loan. Paying rent every month does not build any form of tangible value for you in the long term. So, building an asset which appreciates with time is one of the best value you can add to your life.
One of the most appealing aspects of owning a home is the freedom to remodel or renovate whenever you wish for it. For small repairing jobs also, you don’t have to ask anyone. There are no landlords to question you, whereas while being on rent you are entirely reliant on your landlord for almost everything.
Paying rent may appear to be less expensive than paying EMI, but in the long run, it is costlier than the cost of the property. You pay EMIs for a fixed period of time while building an asset but, paying rentals is endless and the costs cannot be recovered.
Conclusively, suppose we disregard the arithmetic involved in calculating EMIs, loan rates, and down payments. In that case, the only thing that counts is the sensation of security and comfort obtained by feeling at home. Home is where we create unforgettable memories, and there is no place like home. Some of the top real estate group in India provide flats that help with all budgets and offer a variety of possibilities.