Buying a home is a huge part of the Indian DREAM. Choosing to invest or rent, though, is a major decision that affects your financial health, lifestyle, and personal goals. Whichever option you choose depends entirely on your lifestyle and financial situation. Both require a regular income (so you can afford the payments and associated costs) and may also require a certain degree of effort to maintain.

Having a (nest) home that we all can call our own is everybody’s dream. We work for our entire life to fulfil this dream. The desire to make our loved ones happy. But while making this dream come true, a big question arises from within. 

Should I invest in a home, or should I just rent it?

For us, a (nest) home is so much more than just four walls and a roof. It inspires a range of sensations and perceptions in us. Having a (nest) home gives a sense of security, comfort, and a symbol of status, reputation  and success. 

Hence, to decide if you want to invest in a (nest) home or rent it, you need to see at numerous things and possibilities before taking any step further. 

We have listed the advantages of buying a (nest) home to help you figure out things before taking any big step. 

• An Emotional Security –
  To most of Indian’s at the end of a long day at work coupled with a tiresome commute and continual stress, returning to your own nest brings alive a sense of security and comfort that is truly irreplaceable. After all, there is no place like home (nest) where you can be at ease and just be yourself in peace and happiness.

• Tax Aids –
  Investing in a home will require you to go through a home-loan system with many benefits and tax aids. These home loan principles and interest repayments have many tax breaks that can be redeemed while paying your taxes. 

• Privacy –
  You can live a hassle-free life without anyone else interfering in your general house activities and maintenance process. Since you are your owner, you don’t have to abide by any landlord, and you can have a say in social discussions. 

• Security –
  Investing in buying your home is a commitment, but looking at the current market, investing in a house always reaps promising results financially. Thus, your home is like security for you and your family for the future. 

• Fixed cost –
  Over time, your home’s rent will gradually increase as the real estate market has seen rapid growth in the past few years. But when you buy a home, you pay a fixed cost as EMI to the bank. 

• Induced savings –
  Investing in a home (nest) is a commitment, and when you walk down this path, you see how important saving money is. This triggers us to become an induced saver to make ends meet and to secure our future. 

• Accomplishment –
  It is always a proud moment when we accomplish something. Buying a home is no different, as you have taken a step towards security for your family. This also means that you have made something of your own, another sense of accomplishment. 

• Opportunity to create your own dream home –
  When you invest in a home, you can design it just the way you want it to be. Fill it up with your favourite furniture, create a memory wall, or even make it what you want it to be. Make your dream come true by living in one!

• Credit Availability –
  Over time, getting a home loan has become a somewhat hassle-free and easy process. Thus, getting a home that is your own is always a better option for the future. 
  

Special Consideration -

Which option is best for you isn’t just bout the money. Is also about your comfort and vision of your life.

Also, post the COVID-19 pandemic that shook the World, there has been a general consciousness around homeownership. Faced with severe lockdowns, people have started looking for deeper meanings and strengthening their roots. The purpose of settling down is to motivate many people to buy their own homes. The work-from-home culture also creates a need for spacious homes, preferably with a private office space.

The government has also pushed the housing supply with a focus on infrastructure and housing schemes. This has widened the options for people looking for homes. 

Holistically, for some investing in a home is always better choice than renting and for others renting is best option as often renting makes more economic sense. Only you have to see your situation to figure out what works better for you before taking the plunge.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories.AVENUE NEST does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.