Is Buying a Flat Better than Renting One?

Is Buying a Flat Better than Renting One?

There is seldom anyone in this world who does not dream to own a beautiful abode. One of the main reasons why we put our blood, sweats, and tears into our work is to be able to buy our dream home. But, not everyone has adequate monetary support to pursue this dream. Due to a lack of budget, many people choose to live on rent. Are you, too, looking to rent a flat in Kolkata? Are you sure about your decision?

Seemingly an easy and economical option, renting an apartment could get you into a tight spot in the long run. There are a number of reputed and reliable banks in India that will let you make a decent home loan to buy an apartment. Buying a home is definitely easier said than done, but if you are certain about the city where you want to reside and own adequate funds for a down payment, then owning a home should be your priority.  

If you are still stuck between a dilemma between owning a home and renting one, then squeeze out some time to read the following write-up. This excerpt will give you reasons galore to cancel the plan of renting. Have a look –

Perks of Owning a Home

If you are a free-spirited individual, aimed at leading your life on your own terms, don’t get confined within the restrictions of a rented apartment in Kolkata. There are numerous other reasons as well that will encourage you to save up more for your dream home. Some of these reasons are –

• It’s only possible for your own house to provide you with ample security
• A rented apartment can never give you a sense of pride
• With every passing year, you will experience an increasing rental charge. This may end up breaking your bank in the long run!
• When you purchase a flat with a home loan, you would be acquainted with the EMI needed to be paid in the long term. This makes the future expenses more predictable, as well as, stable
• When you live in your own house, there would be less likelihood of unnecessary interferences in your life

As per the experts, one can buy an apartment even at the cursory stage of his/her career if he/she is committed to residing in a permanent address. Initially, it might be a little difficult for you to maintain the EMI charges, but with the future salary increments, things will fall into place.

Finally, why is it always better and wiser to buy a flat in Kolkata? Maybe, because –

• Owning an apartment could generate a lot of additional income in the forms of paying guests, rentals, etc.
• Rentals might seem a cheaper option apparently, but it’s always a more stable option in the long
• An apartment owner can mortgage his/her residential property but a rental project can never be mortgaged especially by a tenant.

There are properties galore in Kolkata, if you want to buy a flat without exceeding your budget. To find such properties, you can count on the business listing services of Haarway.