Buying a house is one of the best investments one could ever make. Experts at Modi Builders, a leading real estate company in Hyderabad, state that buying a house is always far better than living in a rented one.
Here are some of the benefits of buying a house:
No fluctuating rent: If you are residing in a rented property, the landlord can increase the prices as per his will and it can adversely affect your budget any time. However, if you own a house, managing the budget is in your hands. Likewise, if you are paying EMIs to own the house, you are always sure about the monthly amount that would be deducted for a particular time span.
Appreciation in value and tax benefits: According to experts at Modi Builders, owning a house is much more valued than owning any other asset, as its price appreciates with time. If the market conditions are stable, its value can even get doubled over a period of 30 years.
Freedom of Ownership: As an owner of the house, one can modify the living place as per his own will. You can paint the colour of your choice, add or remove the shelves, and do everything you want to. On the other hand, you can’t alter your living space in a rented house due to various terms and conditions.
Long-term benefit: As we all know that a house is an asset that can change the fortunes; its value keeps appreciating as per the market condition. However, many of us don’t realize that there is a lifelong advantage of owning a house. For example, if you are paying rent for over 10 years, one day you would leave the house without owning it. However, paying an amount to own the house for 10 or 15 years will not only make you the landlord but also the monthly amount you had to pay earlier, can be saved as well.
Peace after retirement: There are several benefits of owning a house which can also be realised after retirement. With limited income, you realise the worth of owning a huge asset. You can enjoy the luxury and rent some part of your home for a steady income as well. If you don’t want to rent the house, you have the luxury to relax in your own comfort zone without anyone’s interruption for the rest of your life.