Buying a property is one of the

Buying a property is one of the biggest financial opportunities and an asset for an Indian as well as a NRI. Renting on the other hand can be helpful based on certain factors only. Property or home buying might not be as simple as it appears to be owing to the increased property rates, interest rates and the EMIs. Most of us are usually in a baffling situation whether to acquire or rent a home due to the current real estate market conditions. Likewise you would ponder over a question like, should I purchase a home or continue living in leased properties?

Renting a flat or a flat has its own pros and cons. Although it can be a much better option financially and emotionally, you may accommodate yourself only on a temporary base. Renting helps you if you are yet to become settled in your professional and personal lifestyle. There is seldom responsibility for routine service and repair by you and you are going to just have to pay a refundable quantity rather than a huge deposit. Apart from these types of benefits, renting has the following negatives;

- You cannot avail special duty benefits.

- No benefits from thanks of property prices.

- Better rent for lesser space.

rapid Less value for money.

- No agreement to make desirable improvements.

- Rules/restrictions should be followed.

- Rent to become impacted by inflation.

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Consider critical factors like the city, area, period you want to stay, family needs, real estate market along with the prices of buying and renting a house in a particular area. Also think around the type of property you need, the amount of space required buying rental property and your financial situation.

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Knowing the returns on your investment will help you buying a property. This can be done through the price-to-rent ratio tool, which is commonly used to calculate by splitting the annual rent and the cost of the house.

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Do a risk analysis as improved property prices tend to remain exactly the same for a longer period whereas typically the rental price might fluctuate as per the demand. In fact property prices raise every five years in Rate I, II and III towns.

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Do a cost benefit evaluation using online calculators which will as well incorporate various tax advantages and investment approaches.

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This takes on a major role in your property investment decision as the more you earn the greater amount of home loan can you avail for a longer period. Also your regular expenses should be less excluding your monthly home loan EMIs. Other features like upfront house costs and extra surplus amount should also be appeared in to.

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Since you will pay your home loan EMIs for a longer period, you should also have a stable job that the bank will consider important whilst granting a loan. Think about your job stableness and salary hike before buying real estate.

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Buy a property in an location with basic infrastructure and features as it will in future help you promote away your home easily. Ultimately your house should be easily disposable.

- Purchasing a property forms an asset and will be a long term investment.

- It induces required savings, enhances pride and status, inculcates a sense of bonding and grounding.

- It allows you to make permissible changes and improvements.

- You may avail greater tax benefits

instant Avail benefits from the fluctuating interest levels.

- Gives a sense of security and safety during post-retirement years.

- You may avail profit by selling your home.

-- Increased net worth after the complete mortgage payment.