Apart from the above factors discussed, elements like Liquidity, Appreciation Value, Pride, Tax Benefits and Security to need an immense amount of consideration before you finalize your mode of living and dwelling.
• Liquidity: Any good investment is only considered beneficial when it comes to your aid in times of need. The golden rule is to ensure that it continues to grow without much ado as well as provide liquidity for planned and unplanned needs. In rental solutions, the above situation is absolutely zero and can leave you crippled especially at times of need.
• Appreciation: Besides the fact of living in your own domicile, a good home investment must appreciate in Capital terms along with the growth in the overall market terms. In a country like India where population growth patterns dictate constant surge in demand for especially in urban centers like Chennai, Hyderabad, Bangalore, the demand for resale of homes is always present. Are this phenomena present in rental solution?
• Pride: Imagine coming back to your very own home after a tiring day. Doesn’t the very feel of stepping into your home excite you? Well, that’s the magic of having a home for our own selves. However, in the case of rental solutions, though you might come back to rest and relax the feeling of living in some one’s house can haunt you!
• Tax Benefits: Whether you are part of a salaried or business class, there are a variety of benefits that you could derive from owning a home. Should you be taking a loan for part or the entire value of the property, your benefits increase in a different category. What benefits do you get from paying home rents?
• Security: Life is not going to be the same as you start progressing personally and professionally. There will be events and situations where you will get married and start having a family and the need for more privacy can be felt. Besides that having a home that defines your family will not only add value to your status but will also act as a form of security at any point in time.
Unlike any other life decisions, property investment choices must be made accordingly. If not, it can cost you from all ends! Whether it is buying a home or going in for rental solution if the above perspectives are taken into account, it can benefit you immensely and can also help you save tons and tons of money, thereby adding value to your investment and hard- earned money.
After all ‘Home is where your heart is’!
The next time, if you are confused about making such critical decisions, consider these points for a clarified outcome.