Why you may be better off Owning a Home rather than renting one in the after math of Covid-19?

Over the past decade there has been major changes in the attitude of our consumers, mostly the younger ones. This generation finds it convenient to rent commodities than to own them. There has been an entirely different approach towards the idea of owning items. From house to furniture everything was rented out by the young crowd. And because of this, they were hugely affected during the pandemic in our country. The concept of renting be it commodities, homes or vehicles, raised a big concern over safety. Many were left with no roof over their head and this was a shocking revelation.  

Learning from our mistakes to make smarter decisions for future is really important. In this changing times we should invest for a safe and secured future.  

Here are four reasons to make you rethink your decision of renting over buying:  

Stability over Uncertainty 

What better time to talk about uncertainty than now? With the pandemic, we saw people become homeless overnight. And no money could get them a shelter. Nothing can substitute the security of owning a home. Rentals are ideal for a temporary set up, but never for permanent life. Owning a home can bring security, safety and stability to you and your family. A permanent home will provide a sense of familiarity in life.  

Long term benefits over Short term benefits 

Buying a house and repaying home loans during the early stage of your career might seem like a burden compared to the cheaper rent amount. When you look at the long run the rent amounts are subjected to change and this means you’ll be paying a much higher amount in another ten years down the line.  

Whereas, if you buy a home availing the home loans you can choose for the fixed interest rate option for a home loan and rule out the possibility of a sudden rise in the amount. As the effect of the pandemic the interest rates of home loans are at an all-time low. And owning your own home can save you from all the complications you’ll have to face during a difficult time like this.  

Investment over Expense 

The only silver lining of the pandemic is the low-interest rates of home loans and now would be the perfect time to invest. While paying off your home loans you are saving money as you are investing it and rent amount is an expense you’ll incur every month.  

The interest rate cuts provide a clear advantage for the first time home buyers and the ones looking to invest. In case of a financial emergency, you can mortgage your home. When you pay off the home loan you’ll be left with your own home at the end of it, but when you are paying the rent amount you’ll be paying off someone else’s home loan.  

Read more

apartments near technopark
ready to occupy apartments in trivandrum
Flats near technopark
Apartments near technopark

Location: Kozhikode, Kerala, India

Comments

Post a Comment

Popular posts from this blog

5 Benefits of working from your own home

Image
A year back, work from home was considered a privilege and only a few enjoyed it to the fullest. This completely changed in the post-Covid-19 era. From journalists to educators to corporates, Covid – 19 forced companies to send their employees home to work remotely. Even though this created uncertainty among many, people are starting to choose work from home due to its advantages and positive changes it brings.  Here are five benefits of working from your own home:   Flexible Schedule:  You set your own timings and work according to your convenience. At the end of the day, the productivity and the efficiency of completing a task are all that matters. As long as you work the required working hours and finish your work, the timings can be flexible and relaxed.  Work-Life Balance: Work from home is an ideal option for a perfectly balanced work and personal life. This gives you the time to be involved with your family while getting the work done. You can get some ex...
Read more

Luxury or Affordable Apartments, Which One to Choose?

Image
Real estate market in India has been witnessing steady growth as people are in a constant search either for housing purpose or as an investment opportunity. Owning residential property in a desirable location with all basic amenities and facilities is a dream come true for all homebuyers. But the question of whether to choose a luxury or affordable apartment lies ahead of the homebuyer before making a decision. Take a look at the below-mentioned features and benefits of owning a luxury and regular apartment: Luxury Apartments As the name suggests, luxury apartments are loaded with all the luxe and posh materials, facilities, and amenities. These are automated homes with the latest technology including artificial intelligence and machine learning for fast and easy living. Constructed focusing on the high-end consumers, these apartments are preferred by home buyers who seek a luxurious lifestyle with more comforts and would also be a highly secured living space with emergency serv...
Read more

Guidelines to Consider Before Purchasing a New Property

Image
There comes a time in every renter’s life when they get fed-up of doling out money at the end of every month and tolerating the unreasonable ‘do’s and don’ts’ from the landlord. That the wake-up call when you realize there are other options out there as well that are pretty lucrative in the long run too. Many renters don’t realize that the money they put down each month can be used as EMI payments instead, towards a home that they would end up owning at the end of the day; this is against spending the same amount each month, lining somebody else’s pockets and still having no permanent of their own. It’s pretty obvious which option you would go for! And once you have decided to buy a property of your own, you first need to go shopping for a home loan; different banks offer different interest rates, so look for the one that offers the lowest interest rates and check how much loan you are eligible for. After this, you will have an idea of your budget for your new home and can shop accordi...
Read more