July 9, 2016 - Lodha Palava
Rental vs. Owning your own house
Home is where the heart is. But mumbaikars manage to make a home whenever they live. With the increasing ease in getting loans and the need to have an own house people either buy their own homes or take them on rent. And when you consider either renting or buying a house there are a many things people do consider like:
Their long term and short investments and their income with which they can easily pay off the loan amount. People who don’t have a lot of money for their backup and don’t want to finish their saving and therefore go for a rented house
People with a lot of money and who are sound to pay the taxes buy houses. A lot of cost like maintenance and insurance of the house goes in after buying it however, renting doesn’t cost a lot and doesn’t come with these troubles and is comparatively easier to live in.
Mumbai has a crowd that spends a lot of money of their status quo, buy elite houses in Mumbai, also there are a lot of people chasing their dreams and they don’t want to leave this city of dreams so they struggle and somehow manage to save money to pay the rent and adjust in these houses.
Buying or renting is all about what you are looking for from your house if you are here just for a few years renting is more convenient but if you plan to live in this city for longer its better to look for your own place and get the feel of your own house. Because at the end the people who live in it make it a house to be lived in.