The debate on whether one should rent or buy a property has been a perennial one in the field of real estate. The choice has been confusing people for ages and the answer is usually always unsatisfying. However, moving into a new home is a big decision, so you must make sure to analyse all the implications before buying your own property.
Renting is usually seen as a fragile choice meant for those who are unsettled in life; however, nothing could be farther from the truth. In the modern real estate landscape, renting seems to be the shrewdest decision of them all. Here, we shall go through a few points which tell you why you should rent a house in Pune, instead of the alternative.
With renting, you always have the option to move out in a jiffy. The down payment is lower than the payment required for buying a house, so it will never prove to be a stumbling block in your decision. You can choose to upgrade into a better house if you wish to or you can move into a more affordable living space in case things are difficult. Either way, it is difficult to break free from an expensive house because of the financial involvement of buying and selling a house.
Fixed Rent Amount
Most flats for rent in Pune come with a fixed lease period, with the duration usually being around a year. The rent is fixed during the span of the lease, so you know exactly how much your rent cost is during the lease. This enables you to calculate your budget more efficiently and even lets you save more prudently. On the contrary, mortgages and property taxes can fluctuate quite a lot.
No maintenance costs or repair bills
One of the main advantages that a renter has over a homeowner is that there are no maintenance bills associated with renting. The house is in the ownership of the landlord and he is responsible for the maintenance and repair costs. Homeowners find themselves paying a fluctuating amount for maintenance and repair making the owner experience more expensive.
Improved number of choices
If you are willing to rent, the number of houses that you can afford to move into increases drastically. Buying a home in a densely populated urban area is financially challenging, so renting in the same area will mostly be within your reach. This can let you choose the house that you like the most and take advantage of the conveniences and rich culture of city life.
The legal formalities associated with renting are simple when compared to buying the same house, and so is selecting a home to live in. Today, there are many services like NestAway which simplify the process. NestAway lists the types of houses available for rent in the city, like apartments or 2bhk Independent houses for rent in Pune. You can choose the apartment you want from the extensive list.
These are only some of the reasons why renting is better than buying. Ultimately, the choice is yours; however, you need to make sure to analyse in all angles before settling on your decision.