Why Should One Buy a Home Instead of Live on Rent?

While some advocate that buying a property is better, owing to the freedom it offers, there are some people, who believe the latter option to be favourable owing to the lesser rental home costs.

Although the cost of living in a rented home might appear to be favorable, yet it is not the best option, according to reports.

Case 1: Ram purchased a 2 bhk flat in Nh 24 Ghaziabad on a home loan for Rs.

The duration to clear the home loan amount is 20 years.

Now, if we calculate the cost of living in both the cases, the cost will be way lesser in case 1 than in case 2.

As the rental amount will keep on increasing by almost 5% every year, Shyam will eventually end up spending a lot more than what he could have actually saved in the upcoming 30 years.