3 Important Reasons to Buy a House Instead of Renting One
When you move into a new house, you will have to spend a fair amount every month, be it in the form of rent or EMI. If paying this monthly expense is inevitable, you need to decide whether buying a house is a better option or renting one. Financial experts say buying a house and paying its EMIs is better. Here are 3 reasons why: 1. Security Houses are rented on a lease of 11 months. The landlord may or may not renew this lease. Let’s say if the landlord does not renew your lease after 2 years, you will have no option but to search for a new home. In another scenario, the landlord may say he has an urgent requirement of the apartment and may ask you to vacate it in the notice period. Either way, there is no security in living. When you buy a house, no will ever ask you to vacate. You live for as long as you want. 2. Stable payments The monthly rent of a house is subjected to inflation and will increase accordingly. The EMI will not. For instance, if you buy a ready-to-mov