Should you buy or rent a house is one of the rising concerns of date. Till the late 1980s, it was the standard middle class dream to be able to somehow garner enough money to buy one’s home. You saved for many years, sold some family jewels and borrowed from friends and family. Overtime, you somehow paid back friends and family.
The script changed in the 1980s with the arrival of home loan companies. Now, instead of borrowing from friends and family, you could take a home loan. The only difference is you have to begin repayment immediately and pay back on a regular basis till eternity (or so it feels). Given the easy availability of home loans, the number of people who can buy their own home has multiplied exponentially and so does the property prices. This has resulted in the rent-versus-buy debate arriving on Indian shores as well.
Does it make sense to buy your own home or to stay on rent? Well their is no right or wrong answer here but there are few pointers.
Find us on Social Media and stay connected :
Facebook Page – https://www.facebook.com/YadnyaAcademy
Facebook Group – https://goo.gl/y57Qcr
Twitter – https://www.twitter.com/InvestYadnya