There are a lot of things to consider while deciding to continue renting or to buy a home. If you are someone who has a job which needs you to relocate every now and then, then it is better to rent a house.
On the other hand, if you have a job in a city where you know you will spend your life, then you should buy a house rather than renting. You can substitute the EMI with the rental amount.
Another important factor is that while buying a home you should have at least 20% savings of the total amount of the property. Most of the banks give at the max 85% home loan for the property and you need to make a downpayment of the remaining amount.
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Does it make more financial sense to rent or buy a home?
Gyan Prakash
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October 14, 2020
2020-10-14T16:23:05+00:00 2020-11-12T11:35:45+00:00Comment
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Investment
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