One of the highly debatable topics of all times is renting vs owning a home. We can find some people who prefer the former to the later and there are others who prefer the later to the former.
People who prefer renting a home to owning a home argue about the financial stability it offers in the long term and ease to explore different localities, in the long run owning a home has many benefits, though it is advisable to consider owning a home by keeping a few things in mind such as present income, job security, available amount for down payment, expenses and personal objectives. This will help you to make the best decision.
It is to be noted that one enjoys freedom while owning a home. There is also a lot of emotion connected to it. There will be many memories associated with it as well.
Here are a few advantages in owning a home.
Financial asset
It is true to the word that planning to own a home leaves you in a financial commitment for the next 5 to 30 years depending on your commitment. But by the end of the term you would end up having an asset which is worthwhile.
Residential Properties include villas, homes, Independent houses, and townships. Contact property dealers in Bangalore such as Keerthi Builders to receive assistance in buying a property. They deal with affordable housing, gated communities, plots, individual houses and many more.
Paying rent vs paying an EMI
Nowadays we can find the average cost of a rented home in Bengaluru for a 650 sq.ft. apartment is approximately ₹15,000. The landlords also tend to increase the rent every year. On the other hand, the lowest EMI for a ₹16 lakh home loan is about ₹10,600 at the lowest rate of 6.95% and with a maximum tenure of 30 years. It is also to be noted that the EMI for a ₹16.5 lakh home loan is approximately ₹14,300 which is taken for a shorter period of 15 years. So it is advisable to pay your EMI for a limited period and own a home for yourself rather than paying rent and having nothing gained due to it.
If you are concerned about the building costs, Keerthi Builders offers a few pre launch projects in Bangalore. These properties can be received at a considerably lower rate.
Free from restriction
All rented houses have their own set of restrictions. It is always difficult to comply with all such restrictions. Sometimes there will be a feeling that you are living in someone else’s house. The feeling of independence will not be there. It is rather the converse of this while living in a own house. There is freedom and no restrictions. You are the king and queen and you are the boss of your kingdom.
The best time to invest in a property in Bengaluru is now than ever. The loans rates are at all time low and you can find better offers than ever.
Our representatives work for you, not for a bank, and will provide you with the best service, price, and products available.
Our goal is to make the mortgage procedure as straightforward as possible while still saving you time and money.
The mortgage broker helps you to see things in a very complicated field more clearly and help you get lowest refinance mortgage rates in Toronto.
Throughout all the phases of the method, they join you to discover an alternative tailored to your requirements.
Kotak Mahindra Bank is one of the leading loan providers in India.
Kotak Mahindra Personal loan interest rates and other charges are subjected to individual customers- depending upon their credit score, existing loans, amount of savings, company currently employed, etc.
And Kotak Mahindra Bank Personal Loan EMI Calculator is made for customers to calculate their monthly EMI for the loan which depends on the interest rate and loan tenure.
