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Should You Buy A Home Or Live On Rent? Here’s Your Answer.

Everyone dreams of owning a house and having a space of their own. It is one of the biggest decisions that a person makes in their life. Whether to buy a house & live rent-free or take a rented house & keep living in others’ place, is a choice one has to make at some or the other point in their life. Here’s what you need to know about the benefits of buying a home rather than living on rent:

Why it’s better to buy a house?
You get to enjoy utmost freedom in your own home with an added sense of accomplishment and pride of owning the place. Property prices are usually on a rise, thereby increasing the value of your investment in your home over time. A home of your own gives you the security and certainty over long periods of time as a valuable asset.

| You even get to enjoy certain tax benefits and exemptions especially if you apply for a home loan.

| You can change the interiors and renovate as per your taste and requirements.

| Your own home provides you with added privacy that you desire along-with the freedom of living on your own terms, unlike a rented home.

 

Why it’s not advisable to rent a house?
The rent of the house may vary or change over time which can potentially cost you more.

| Renting almost always comes with restrictions, be it keeping a pet or making any required renovations, giving you significantly less flexibility with your home.

| You also lose out on some elements of privacy and security, with an added sense of not owning the home that you live in.

Buying a home provides you with many advantages, whether you are looking to settle down or are interested in making a sound investment. Not only you get to enjoy your own personal space, but your home also becomes an heirloom, which may be proudly passed down to the next generations.

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