All those years of hard work and long, laborious hours in office and you have finally saved up some amount to buy a house. After going through a few brochures, pamphlets, and blogs, your mind starts to wonder should I buy a house or should I just rent an apartment?
Why this thought? Is it because, you are confused or you don’t have the needed resources to own a house? Or is it because, you feel it is a pain to live in some property and feel that your liberty gets restricted?
VGN Builders in Chennai | Properties Developers Chennai
Let us shoot out some aspects, which can clear your mind and help you in better decision making and analysis.
Duration: This is the first and foremost point, which must be analyzed when you want to make such a crucial decision. Approximately, how long are you planning to stay? It has been proven that people generally buy an apartment only if they are sure that they will stay in that particular country for 5 or more years.
Money: Another crucial aspect which must be looked at, spending on a land is something that you need to think and decide. Agreed that, it is an investment, but are you willing to put in all of your money and lifesavings?
Distance: People often look to build their homes in places closest to schools, colleges, hospitals, etc. Finding a house with those conditions is slightly difficult, but it can be done if you are willing to splurge a bit. Apartments on the other hand, are much easier to find.
Tax benefit: An often overlooked point, tax benefit is one more main aspect that a buyer must take into consideration while renting a property. You can claim quite a sum of money in the name of tax deduction on principal repayments on your home loan. These advantages may outweigh the ones from renting a piece of land.
Ownership: Do you want to rent an apartment? Or own an apartment? This question must be answered ahead of your decision making. You should also be aware that, when you rent an apartment, the sense of ownership is absolutely zero. But, when you own a house, you not only feel proud and happy, but also feel the ownership. This can be felt, only when you buy a house.
Land Rates: Buying land isn’t a joke. You need huge amount and it’s a major investment. Not many of us will be in a position to invest huge amounts and wait for later benefits. Thus the whole purpose of buying a land and building home gets defeated, because of the above mentioned factors and reasons.
Be it buying a house or renting a house, everything has its pros and cons. But one should be in a position to decide which one will work for him and work accordingly towards it! Also giving importance to family situations, economy and market trends, will help one in making the right decision and choice!
Why this thought? Is it because, you are confused or you don’t have the needed resources to own a house? Or is it because, you feel it is a pain to live in some property and feel that your liberty gets restricted?
VGN Builders in Chennai | Properties Developers Chennai
Let us shoot out some aspects, which can clear your mind and help you in better decision making and analysis.
Duration: This is the first and foremost point, which must be analyzed when you want to make such a crucial decision. Approximately, how long are you planning to stay? It has been proven that people generally buy an apartment only if they are sure that they will stay in that particular country for 5 or more years.
Money: Another crucial aspect which must be looked at, spending on a land is something that you need to think and decide. Agreed that, it is an investment, but are you willing to put in all of your money and lifesavings?
Distance: People often look to build their homes in places closest to schools, colleges, hospitals, etc. Finding a house with those conditions is slightly difficult, but it can be done if you are willing to splurge a bit. Apartments on the other hand, are much easier to find.
Tax benefit: An often overlooked point, tax benefit is one more main aspect that a buyer must take into consideration while renting a property. You can claim quite a sum of money in the name of tax deduction on principal repayments on your home loan. These advantages may outweigh the ones from renting a piece of land.
Ownership: Do you want to rent an apartment? Or own an apartment? This question must be answered ahead of your decision making. You should also be aware that, when you rent an apartment, the sense of ownership is absolutely zero. But, when you own a house, you not only feel proud and happy, but also feel the ownership. This can be felt, only when you buy a house.
Land Rates: Buying land isn’t a joke. You need huge amount and it’s a major investment. Not many of us will be in a position to invest huge amounts and wait for later benefits. Thus the whole purpose of buying a land and building home gets defeated, because of the above mentioned factors and reasons.
Be it buying a house or renting a house, everything has its pros and cons. But one should be in a position to decide which one will work for him and work accordingly towards it! Also giving importance to family situations, economy and market trends, will help one in making the right decision and choice!
No comments:
Post a Comment