Many wonder if it is currently cheaper for a common citizen to buy a home or decide to live for rent forever. Over the years, this question has prompted numerous statesmen and economics experts to analyze the problem in-depth and ask questions that could scientifically address the issue. In one of the most recent studies, it is stated that in purely mathematical terms the rent is cheaper than the purchase.
However, this discussion does not take into account the so-called accessory costs, such as the necessary maintenance interventions and the costs related to home insurance, as well as the more or less favorable economic frameworks at a given moment. Those who buy a house could find the benefits only after many years.
When you have in mind to rent a house or to take out a mortgage, it is, therefore, good to face some points in depth:
- Identify the characteristics of the house you would like to buy
- Establish a budget and check the actual value of the property
- Prepare a savings plan compatible with future releases
- Compare the pros and cons of rents and mortgages
- Take into account possible episodes of deflation and inflation over the years
- Calculate the risks deriving from purchase and the related mortgage
So better to buy a house or rent?
As with all things, there are obviously advantages and disadvantages in both possible scenarios. If on the one hand, in fact, those who buy a house have, so to speak, the security of having a roof over their heads and something to bequeath to their children, on the other hand, the costs to be faced over the years are always present and to have an important impact on home finances.
On the other hand, tenants of rented property in Gurgaon have the freedom to move when they wish, opting to move house whenever something does not convince them or is absolutely necessary, perhaps in view of the birth of a child or when the neighborhood it hosts a tendency to lose its charm and become dangerous. However, the monthly fee paid appears in the eyes of most people almost like money thrown in the wind, since in fact, the renter does not have anything concrete in hand.
Should I sell or rent?
The current trend is that of a rise in rents, which, being higher and higher, often inevitably push users towards alternative solutions. A common citizen, therefore, sees the best option in taking out a mortgage, also considering this operation as a sort of investment. So, is it worth buying a house or renting? Who owns a house can, in turn, think of renting the property to third parties, obtaining a safe and constant economic return, especially if he already owns a house to live in.
On the other hand, there are those who decide to live for rent in rented properties in Noida forever, especially people who prefer to invest in travel, experiences, and adventures rather than buying a home. In this modern world, ultra-globalized and full of opportunities, it is perhaps limiting to stand still at one point, especially for young people and for those who have the ability to build their own future anywhere in the world. All very fascinating if it were not that who has already started a family, or intends to do so, must necessarily consider aspects such as the school of the children, the proximity to relatives who can help them, emotional stability and the possibility for children to make friends at an early age. It seems obvious that the discussion is therefore reduced to a question of distinct priorities, different according to the case.