Own House or Rented House? Clearing The Dilemma

House trunks into a home when people live in it with love. There is always a dilemma with people to buy a house or rent it. Choosing between rental and own a house will be a huge task, as it is one of the most important decisions of life.

Comparing the pros and cons of buying a house and renting a house will give you a clear idea of making your decision with the house.

If you are looking for flats in Goregaon, or a property in thane, or a luxurious 2 BHK in Dahisar this article is for you.

Rental House

Renting a house might seem a good option when you are in your 20s, as you just start your career and you feel that spending a particular amount for rent is not a big deal rather than investing a larger chunk of money in buying a property. Also, at the starting of your career, your earnings will not be that much to afford to buy a house. Let us see the pro and cons of renting a house.

Pros

1. The cost is much low for renting a house than buying a house. It is not as massive as the price tag of a house rental house.
2. A rental house is best when you are at the start of your career as buying a house is a huge task.
3. Location is a great advantage. You may not find a home in your budget in the locality you want but can always rent a house in the same locality.

Cons

1. A rental house means it is not completely yours. You own the things in your house and not the house itself. There is no complete ownership of your living space.
2. You cannot change anything in the house. From painting walls to minor alterations in storage place, you cannot change it, you must get permission from the owner of the house, and the majority of the time the house owner will not be on the same page as yours.
3. Moving out is a constant thought. Since the place is not your own you must be ready to move out any time. It could be because of your situation or the decision of the house owner.

Own House

Owning a house is a great achievement for an individual but it also its pro and cons. Let’s discuss them and evaluate them. There are many developers in Mumbai you can contact.

Pros

1. It is your own house and you can design it internally just the way you want it to be. You have the final say on which colour the rooms should be and what would be electrical fittings.
2. Owning a house is a great investment as it is an asset with a constant increase in value.
3. If you want to move out, change the place you live, you can always put up your home out for rent and get a steady income out of it.

Cons

1. The cost of a house is massive and the majority of the time there is a need for a loan.
2. You must take full responsibility for the house and need to take care of it really well

With the above-mentioned pros and cons of renting a house versus owning a house, you could have arrived at a decision on what best suits you. The decision also mostly depends upon which stage of life you are in and your budget. Since a healthy living space is responsible for keeping your physical and mental health in check, you must take the right decision.

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