“A house is made of bricks and beams. A home is made of hopes and dreams.” Home can exclusively be your own living space. It is a place where you feel comfortable, content, and satisfied. Having your own house in the contemporary world may seem like a dream to many citizens. However, it is now facile to turn it into reality as well. With the assistance of real estate offers, more people have been able to achieve their goals. Exciting deals like 3BHK at the price of 2BHK, customized payment plans, referral and loyalty schemes, etc. are recurrent lately. Renting can seem like a cheaper option originally- but is it practical in the
long run? There is no building of equity, no fixed housing costs, etc. Moreover, there are a few benefits that renting cannot provide but owning a house surely does. The comparison is listed below:
1. Buying is cheaper than renting:
This may seem like baloney, but if you consider the longer run- owning a house is assuredly cheaper. This gets proven if you compare the overall rental fees to the fees of owning a house. Additionally, it is better to pay for your own house rather than to pay for someone else’s asset.
2. Investing in real estate- an intelligent choice:
Real estate investing is a secure investment that is backed by a tangible asset and has the potential for capital development as well as tax benefits. Buying a house will generate continuous passive income. As the value of the property increases, it becomes an excellent long-term investment too!
3. Provides stability to the homeowners:
Renting means moving from one place to another when your rental agreement expires. Doing this practice for years causes additional funds, instability, lack of peace, etc. Owning your own house provides solidity and a peaceful environment for the entire family- a place where memories are created together! The rental costs are even conserved to build your net worth.
4. Absolute immunity and power:
You do not like the paint in the kitchen? You can repaint it! You can even remodel your entire house, change the tiles, refurnish it, etc. All liberties and benefits are omitted if you plan to rent. In the former, you do not have to worry about any contracts, conditions, and extra fees. You rule your lifestyle!
5. Reselling/renting out can profit you more than you paid!
As we discussed earlier, real estate investment is the best investment you could make- for a reason. It is an ever-growing sector with soaring income. Once you plan to resell your house after a few years, the price of the house will have distinctly increased. Therefore, you end up earning more than you invested in the beginning. You can even rent it out as a secondary form of income!
Buying a house may pinch your pocket at first, but it is a clever decision ultimately. You will profit from it sooner ‘and’ later! It has many paired benefits to it that you can enjoy too if you plan to invest in a house today.