Buying vs. Renting Real Estate

A major dream of any individual’s life is owning a home. However, deciding whether to buy or rent is a big choice that impacts your aspirations, lifestyle, and financial stability. Whichever choice you select, it will all depend on your financial and lifestyle circumstances. Both may need some work to maintain and a consistent source of income (so you can pay the bills and related expenses).

The decision to buy a house or rent one can depend on a variety of factors, such as your financial situation, lifestyle, and future plans. In general, buying a house can be a good investment in the long run, as property values tend to appreciate over time.

Buying a property comes with the advantages of building your own equity and passing it over to the next generations as an asset. This pattern has been in practice for a very long period of time and has been proven to be a profitable move. Investing in a property not only means putting your foot down practically and financially but it also brings along a sense of community building, stability, and security to your near and dear ones. In your own space, you are at will to remodel/ re-shape according to your personal needs without any hassle of permissions and dependency on the landlord in the case of rented properties.

Renting on the other hand is preferred by people who are always on their toes and might require to relocate every now and then. Renting is considered as a temporary housing option as it does not build any long-term equity or asset. However, these rented properties prove to be an additional source of income for the owner. Rented properties do not provide tax-saving benefits which in turn is a loss to the occupant. The market trends for renting have no specifics or insights to study which gives the owner the power to manipulate the occupant for a higher rent. There is also a significant risk of sudden eviction to the occupant as the landlord might always look for higher rental income irrespective of the occupant’s conditions.

Shivalik Group also encourages the general public to opt for buying instead of renting real estate property by promoting customer-friendly payment schemes wherein the buyer can easily analyse the difference between EMI cost and rental cost and is easier on the customer’s pocket.

– Dhruv Jain