Are you confused about renting a house or buying one? Thankfully, you’re not alone. It’s a hard choice to make, especially because buying or renting a house is as close to your heart as it is to your pockets! Gone are the days when people would spend half their life savings on buying a house, the moment they could. The world has changed and here are factors that are bound to influence your choices.
Emotional attachment / Societal Pressure
Think about the house you grew up in, you can’t help but smile at the nostalgia it ignites. That’s why, most people prefer owning their homes as it’s a place one creates memories in. Also, there’s no denying that people are always aspiring to own their ‘dream homes’ or are pressured by society into buying one.
Landlords can be hard to deal with. You could forever be arguing with them about issues like pets, faulty plumbing, and guests. Even worse, they could get temperamental about the agreed rent amount. In situations like these, it’s not a bad idea to start looking for houses to buy and replacing rent with EMIs.
Investment in an asset
A house is a great asset to invest in for long-term financial stability. It only gets better as real estate prices are always on the rise given the current market conditions. So, if you were to invest a certain amount today, you (or your children) are bound to get much more in return.
Freedom to customize
If you rent a house, you don’t have the liberty to replace cabinets or paint the walls with your favorite color. On the other hand, buying a house makes you your own boss and you can go all out to make it a place you’ve always wanted!
Great tax benefits
When you own a house, your annual income tax amount goes down — the principal, interests, and other charges are deducted from your tax liability. Because of this, you don’t feel the pinch when you start repaying your loan!
If you still haven’t made your mind up, it’s alright — buying a house is not a decision one can take overnight. But do remember that owning a house comes with unparalleled perks when compared to renting one. What’s more, we’re here to help — Clix is the fastest, simplest, and the most hassle-free way of helping you buy your dream house.
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