Getting your Own House VS Living in a Rental Place – Which one is Best?

By Abhay Harish Shah, Realty Quarter

If you are the one who is planning to own a house or is confused whether living is rental premise is a good option or not then this article is for you.Most of the people are confused about whether to spend their lifetime money on getting a House or to stay in a Rental apartment.

Today, it is very challenging to own a house, as the price of the apartment is booming like anything. Further, if you think to book an under-construction apartment then, you need to wait for some years and invest your money. It totally makes sense to own a house, if you are seeing your future in the same city, has a good income flow and is able to pay the down payment.

Buying a house has become a dream for every Indian, but the high-rated price has forced many people to choose a rental place for their living.

Particularly buying a property engages the person to save for its future by regularly paying EMI which wouldn’t be possible in the rented apartment. A person would ideally spend his money if he goes for a rental house, thus buying a house helps in getting secured future in some or the other way.

Who can opt to buy a House?

Experts say “A young enthusiast person, who has a plan of staying in a single city, can think about buying a house. Initially, it will be difficult to manage EMI’s but after some years that human would have good salary scale which will make it easy to pay its EMI. In the meantime, the cost of that apartment will receive a good appreciation in the meantime.

There are many government schemes which support a new buyer to get their house at the best possible price.

Demerits of staying in a Rental Premise:

A landlord is exposed in many ways, and has very less protection by the law. As per the law, a person cannot stay in the same rented house for more than 12years and is obliged to leave the premises.

This person has to rearrange his lifestyle again and again and not to mention the cost of moving household items if painful and costlier.