Why it makes more sense to pay EMIS to own a house than to pay rent?

Own a House or Pay the Rent – Which Sense Good and Profitable?

It is always the dream and passion for everyone across the world to own a house, be it small or large. No matter, be it a small size flat in an apartment, a large villa, independent house or a bungalow, everyone strives towards making some investment to own a property within their ability level and income status. Although many people think that renting a house is wise doing than owning a house, own house always makes the difference. This is especially true in a country like India, where the population is increasing and urbanization is expected to reach to 40% by 2030 from its current level of 24%. Real estate is also amongst the best asset class in India, which has given steady returns.  

 There is of course convenience and challenges in both rent and own house. However, while distinguishing the factors, owning a house always sounds better than renting in many aspects. Here are some favoring elements for why you should prepare to pay your EMI and own a house, than paying your rent:

 Before getting stronger with own house, here are a few points to highlight for why rented houses are comfortable.

·         A rented house may be the correct choice for bachelors, students and professionals or office goers who are living far off from their home town away from their family, alone.

·         A rented house may be the best choice for those who have planned to live in the city with their family or alone only for a short term say, a few months or a few years. This is because, they will definitely go back to their home town or native places to lead the rest of their whole life and have no idea to get back.

·         A rented house may be favorable for those who keep travelling and transferring to other districts often

 

But, now emphasizing on the point, why should you possess a home, here are a few points to strongly highlight about:

·         An own house is always an asset for you throughout your life and historically has always given beaten inflation and made decent returns.  

·         It is not only your property to live in for the time being, but it reflects the best investment that is certainly gaining appreciation over the period

·         House has an emotional attachment in India and a tool of being proud.

·         You always have the rights to transfer the ownership of your property to your kids and it becomes a good security for your entire family

·         Over the time, you can also rent your house, which fetch you’re a reasonable income constantly

·         Besides all, you have a hold for your life and there is no need to keep shifting your home often

Therefore, owning a house is always worth to pay your EMI than renting a house. Your EMI turns to be your investment and saving, while your rent is only your expense and you will never get it back in any ways.

SG Estates Ltd has been a prominent developer operating in different parts of Ghaziabad and has delivered various projects in Vasundhara and Raj Nagar Extn. in Ghaziabad.

Ongoing projects of the company are SG Oasis in Vasundhara, SG Homes in Vasundhara, SG Grand in Raj Nagar Extn. and SG Benefit in Govindpuram.

Completed projects in Ghaziabad are SG Impressions in Vasundhara, SG Alpha Tower, SG Beta Tower, SG Impressions 58 in Raj Nagar Extn., SG Impressions Plus in Raj Nagar Extn. amongst others.