Should you buy or rent a house?

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The debate of home buying vs. renting is not new in the real estate world. For some, renting seems like the obvious choice, and for others, buying seems a better option. People who think renting is more practical don’t buy the idea of paying EMI for 20-30 years, and this considers renting over buying property. 

However, after the pandemic, the new normal and work-from-home trend has changed the mindset of renting a house, and people have realized the utmost importance of owning a house. To provide homebuyers extra benefits and boost the real estate market, authorities and developers have come up with different payment plans that have made this the best time for buying a home. In this blog, you will get to know the crucial reasons that make buying a better option than renting.

Here are some of the main benefits of buying a home vs. renting that home-buyers should know. 

1. Serves as a good investment option

After paying monthly rent for an apartment, you get to live for a specific period, but the amount you pay doesn’t work as an investment, and it increases every year. Whereas when you buy a house on EMI, you pay a smaller monthly amount and secure a crucial asset without the hassle of shifting and landlord’s restrictions. By managing a monthly EMI expense, you can secure your future with an investment that brings excellent returns. 

2. Build as per your wish

Living in a rented house is full of restrictions as most landlords will not allow you to alter the specification as per your needs. On the other hand, you can choose creative home themes and designs for your own house according to your convenience without taking anyone’s permission. The privilege of living in the house of your dreams is what makes buying a better option than renting. 

3. You can enjoy tax benefits

Another advantage of buying a house over renting is you get better tax benefits on mortgage loans. With home loans, you enjoy tax benefits for both interest and principal amounts by declaring loan details. This benefit will undoubtedly help you in budgeting and saving income. 

4. Periodic maintenance is up to you

In a rented house, the landlord only controls the maintenance period and amount. Even if you want to carry out any repair work, you will have to first take the owner’s permission and approval. However, you can maintain your own house with ease and repair it without any delay. 

5. Enhancement in the real estate value will boost profit

Real Estate property is the best asset for investment that provides impressive ROI. As property values increase every year, the enhanced value will boost your profit. Buying a house today will certainly secure the future of your next generation. 

Mahindra Lifespaces Gives You More Than One Reason to Buy 

Mahindra Lifespaces is the most trusted real estate brand that offers a wide range of homes across the country. Buying a home at Mahindra Lifespaces will provide you with intelligent living with modern homes, sturdy structures, beautiful architecture, and premium lifestyle amenities. With remarkable construction, unbelievable offerings, and affordable prices, buying a home with Mahindra Lifespaces is ideal for both homebuyers and investors. 

Unique projects by Mahindra Lifespaces are located at the prime and sophisticated locations in cities such as Pune, Mumbai, Nagpur, Bangalore, Gurgaon, where you can live a convenient and comfortable life with your loved ones. 

At Mahindra Lifespaces, you get high-standard homes at attractive prices that are suitable for every homebuyer.  The brand strives to provide you with an excellent home-buying experience and exciting benefits. The key highlights that make Mahindra Lifespaces a trustworthy and premium real estate brand include: 

  • IGBC-Certified homes* to provide you with best-in-class homes.
  • Sustainable homes that are thoughtfully designed for a better future.
  • World-class amenities that make life easier. 
  • Modern living spaces are designed with green surroundings and pleasant views. 

Conclusion 

All the benefits mentioned above prove that buying a home is better than renting one and an ideal investment option. As now you know why buying is better than renting, opt for dream homes at Mahindra Lifespaces and enjoy all the exciting benefits at affordable prices.

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