Hey,
Let me start off by saying there is no right or wrong answer to the age-old question of which is a better choice: rent or buy a house. The answer is highly subjective and depends on many factors. Where you are settled, your future plans, your income. Age as a factor can impact your choice as well. I will assume you are in your late twenties or older and answer this question.
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Is owning a house cheaper than renting?
There isn't a straight answer to this question. I personally believe owning is a far better option. When you rent a space, you incur an expense month after month and no physical asset is created. Real estate as a sector is a good investment option. There are many tax benefits and potential for capital appreciation.
If you can manage the liability of EMI payments, house tax and other legal issues then buying a property seems to be a better choice. If not, you should then rent a house. Moreover, the market conditions play a big role in the increase or decrease of property value.
Is it cheaper to rent or buy a house?
It has its pros and cons. If you rent your house, you don't have to deal with the responsibilities associated with homeownership. It offers you the flexibility to move places quickly as well. I think buying a house is a big investment, it has a large cost. You will have to deal with loans and EMI for years to come.
This is all from my end on rent or buy a house.
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Authors Of The Question
Is owning a house cheaper than renting ?
shekhar
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2 Year
2022-07-26T18:12:37+00:00 2022-07-26T18:12:38+00:00Comment
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