The common question that the first time home buyer poses is should he buy his own or stay on rent? The choice between buying a new home and keep renting is always among the biggest financial decisions an individual make. To help you answer this question, here we simplify which is a better deal.
For the years, becoming a house owner has been an essential part of an individual dream. Most of the young professions at the age of 20’s and early 30’s wish to have their own house now. So, it is very clear that owing a home is usually a smart decision, particularly when you are going to stay in an area nearby workplace. But it has everything to do with your own financial situation. Sometimes, buying a new home is the smart thing to do; other times, it really isn’t. Whether or not it’s smart for you will depend on a few different factors. Let us understand this through infographics taking you to the real situation and decide which one is ideal.
Meet Pallavi and Rishi who are on two different life paths but they keep same fate for real estate segment. Pallavi decides to stay with parents, so that she can buy own home. She thinks, It might take a couple of years. On the other hand, Rishi thinks that the process of buying home is tedious affair, so, I will keep renting. After five years Pallavi checks her financial situation and the true cost of HOME OWNERSHIP at happykyes and estimated her buying capability through Rent Vs. Buy Calculator….