Benefits Of Home Buying over Renting

                                                     

Should I buy a home? Or just continue to live in a rental house?? The question comes innumerable times in our mind. We find ourselves confused & stuck in a situation of uncertainty.

Buying a home is one of the most important decision which demands for big financial investment.  That’s why many people consider renting as a better option. But, it’s not only about living under a roof , it’s also about a secure & safe future, which can be acquired only by having your own home. It is the only place where you can share your dreams with your loved ones & plan for a better future. Every corner, every wall, will be yours. Protecting not only your ‘today’ but also ‘tomorrow’. The feel of owning a home is awesome. Whereas , a rental home can give you shelter but not satisfaction.

Let’s take a look of some potential benefits of home buying over renting:-

1 Security, Stability & Freedom – You always feel secure in your own home. Eviction is the biggest fear for a tenant, but in your home, you are the only king with your own rules. You pay your monthly installments for your dream abode, not to contribute an increase in your landlord’s bank balance. With every installment you are moving towards a more stable & secure life. You enjoy a complete freedom. Following odd rules will no longer be a compulsion. Laughing loud with your family , shouting in ecstasy on festivals with relatives, planning weekend parties will become easy & more exciting. Everything will work according to you. That odd look of “My Eyes on You” by your landlord will not annoy you anymore.

2 Tax Benefits – You can enjoy tax benefits for home owners. Property taxes can be itemized to get benefits of tax deductions. An expert advice can help you to get a clear idea about the expected benefits. But if you are a tenant then forget about all these benefits. You will just waste your money in paying monthly rent without any surety of a safe future.

3 Remodel –  The color of walls of your house has become dull now, you want to give them a new color. But, wait a moment!! You are a tenant & you don’t have any authority to paint the walls in you favorite color.  You have a beautiful piece of art which can give an elegant look to your living room but you know your landlord will never allow you to drive a nail. On contrary, a tenant can never feel free to do even the smallest change in a rental house. It’s like living without feel. Whereas in your own home you can keep everything which define your nature, your dreams, your world.  

4  Equity – Home buying helps to build equity which is like another shield to your secure future. It  brings capital gain as the biggest benefit. It’s a beneficial investment. You can earn more than you invest. Selling your home after some years will bring more money in the form of increasing price of your property.

5 No Fear For Increase in Monthly Rent – Do you remember the time, you used to get worried about the amount of increase in monthly rent? When you buy a home, you can plan your home loan & monthly installments according to your salary by comparing interest rates of various banks. But, a landlord will never think about you. You have no control on anything. He don’t care about the imbalance which will affect your well-planned monthly budget after an increase in monthly rent.     

6 Forced Savings – If you are spendthrift, buying a home will be an excellent decision. You will become more alert to maintain a balance between your income & expenses. It’s good, not only for your monthly budget but also for a safe tomorrow.    

7 Pride of Ownership – Having your own home gives a feel of self-respect & self dependency. It’s like a precious experience which can never be experienced by a tenant.

Take your time but don’t delay. Regret is the most painful thing in life. Do a proper market research. Compare it to your financial situation & choose the best option for you.  Buying a home is always a good idea. It is the only place, where you get the freedom to ‘Be Yourself’!!