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Renting A House Vs Buying A Home - Property in Pune

Renting A House Vs Buying A Home

Ravi Kingston Avenue

Renting A House Vs Buying A Home

Three basic needs of the human being, i.e. food, shelter and clothing have remained to be at the core of his living, since primitive days. With changing times they have assumed new dimensions, but they are still on top of the priority list. There is a school of thought, which is better expressed in a proverb, “Foolish people build a house and wise men dwell therein.” Humour apart, this thought pitches for a rented house. Those who look at any dwelling purely from commercial angle, may propagate this theory.

A rented house, may save you a huge burden of loan for a long period. Nevertheless staying in a rented house proves far too expensive in the long run. It has its own demerits, which outweigh its merits. Initial costs of rent security deposit, broker’s fee (if applicable) are hefty and the rent paid every month, goes down the drain without creating any asset. A rented house, cannot be remodeled without owner’s approval.

Possessing own house is still a lifetime dream for a common man. Today, when a we talk about the shelter, we have our own decent house in mind. When the entire family inhabits under the same shelter with peace & harmony the house turns into a home.

In the today’s scenario buying a residential property is becoming increasingly difficult. Pune real estate market, during the last decade and half has witnessed steep upsurge in prices. Properties in Pune have been in great demand, due to rising population. Top builders/developers in Pune are coming up with new residential projects in Pune; catering to different class. Changing economic trend shows that people’s purchasing power has increased. The RBI has indicated relief in REPO rate. Consequently the housing loan rates will come down. This will give big boost to Pune properties and people will be inclined to buy their own house – A real home. It is better to seek advice from the best real estate agents in Pune who have earned reputation and respect in the market.

Buying a home – one’s own house gives real sense of accomplishment in the life. It is a creation of asset and although it requires regular maintenance or certain overheads like property taxes, it is worthwhile to buy a home than renting a house. Buying a home also gives you tax benefits. For a person with limited source of income, repayment of installment may become taxing in the initial stage. But within a few months, he gets used to it. Over the period, as his income increases, he is completely comfortable with his EMIs. Buying our own house allows us to remodel it to suit our changing needs. As the years roll on the property gives sizeable amount of appreciation. Statistical study indicates that buying a home may become profitable over the period of 6 years.

Those who are contemplating to invest in the upcoming/ongoing projects for sale or properties in Pune, should never hesitate to look for their own property. Best real estate agents in Pune would extend their correct piece of advice for such real estate deals or 1/2/3/4/5 BHK flats for sale in Pune.