EMI’s or Rentals which is the Best Option to Choose From
May 17, 2017 Home Trading Steps
“Home sweet home” no matter you travel whichever corner of the world or stay in the most luxurious 5 star or 7-star hotel but that warm feeling of being in your home cannot be sufficed by any hotel or any corner of the world. Purchasing a house is one of the most crucial decision of life as it’s almost your lifetime purchase and it a place where you need to live your entire life in. Also, it holds a lot of importance because of the heavy price tag attached to it. It is expensive and may be the most extravagant purchase of your entire life.
While people are divided into two groups where they have different opinions over it where one group says it’s good to have your owned house while other group says it’s good to stay in a rented house. It’s an important decision to decide upon as buying a new house or renting one can be financially and emotionally complex to fall down on.
Back the time say around five decades ago people used to give less importance to owned house and opted more for rented property. They had the belief of saving and investing money into different sectors of the market. The older generation did not see home buying as an investment where they could expect returns they believed in investing in such different market instruments which would fetch them returns. A self owned home is something which always makes you feel secure as there is no fear of someone removing out of the house as it is self owned you have sense of confidence and surety about it but the older generation was ignorant about the fact. An owned home not only frees you from fixed monthly rental outflows but also its value appreciates with passing time. Now with the changing times with the kind of awareness people have they are sound enough to understand the worth of a house they now place house purchase on top of their priorities as they now know what importance do an owned house in their life have rather staying in a rented house property.
EMI’s preferred over rentals as per the current trends
Newer generations today are smart and intelligent enough to understand that it’s better to put their hard earned money into EMI’s rather rentals as they know after certain point of time once all EMI’s are paid the house will be theirs where as there is no end to rentals and it’s a waste in a way as you cannot expect to get anything back at the end. So now the newer generations prefer buying rather renting one. Yes, they will need to wait for the right time to make the purchase if they feel they do not have sufficient funds and it’s anyway better to wait rather purchasing anything inferior or undesired in a hurry as it’s a lifetime decision and difficult to reverse back. If one is expecting a long wait to purchase a house than they should cut down on all the additional expenses and start saving and funding for the house. As they may not get the entire desired home loan amount from the bank. As banks tend to sanctions only 80 to 90 percent of the amount for which loan was applied that too after a complete background check. So the remaining amount needs to be funded in advanced and kept handy.
Hence purchasing a home is almost a lifetime decision and once made is nearly irreversible so be cautious while making such decisions. Choose from the best available option, do the required research and groundwork and make the best possible decision. As it’s said taking care of things in advance is better than curing it later.
While people are divided into two groups where they have different opinions over it where one group says it’s good to have your owned house while other group says it’s good to stay in a rented house. It’s an important decision to decide upon as buying a new house or renting one can be financially and emotionally complex to fall down on.
Back the time say around five decades ago people used to give less importance to owned house and opted more for rented property. They had the belief of saving and investing money into different sectors of the market. The older generation did not see home buying as an investment where they could expect returns they believed in investing in such different market instruments which would fetch them returns. A self owned home is something which always makes you feel secure as there is no fear of someone removing out of the house as it is self owned you have sense of confidence and surety about it but the older generation was ignorant about the fact. An owned home not only frees you from fixed monthly rental outflows but also its value appreciates with passing time. Now with the changing times with the kind of awareness people have they are sound enough to understand the worth of a house they now place house purchase on top of their priorities as they now know what importance do an owned house in their life have rather staying in a rented house property.
EMI’s preferred over rentals as per the current trends
Newer generations today are smart and intelligent enough to understand that it’s better to put their hard earned money into EMI’s rather rentals as they know after certain point of time once all EMI’s are paid the house will be theirs where as there is no end to rentals and it’s a waste in a way as you cannot expect to get anything back at the end. So now the newer generations prefer buying rather renting one. Yes, they will need to wait for the right time to make the purchase if they feel they do not have sufficient funds and it’s anyway better to wait rather purchasing anything inferior or undesired in a hurry as it’s a lifetime decision and difficult to reverse back. If one is expecting a long wait to purchase a house than they should cut down on all the additional expenses and start saving and funding for the house. As they may not get the entire desired home loan amount from the bank. As banks tend to sanctions only 80 to 90 percent of the amount for which loan was applied that too after a complete background check. So the remaining amount needs to be funded in advanced and kept handy.
Hence purchasing a home is almost a lifetime decision and once made is nearly irreversible so be cautious while making such decisions. Choose from the best available option, do the required research and groundwork and make the best possible decision. As it’s said taking care of things in advance is better than curing it later.
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