Home-ownership is a dream for many people, it may not be for everyone. Depending on your age, your lifestyle, and where you are in life, renting is a smart choice for many people.
Chennai has a huge increase in population due to high growth opportunities in startups, MNCs and manufacturing industries,which has created a demand in real estate industry and increased the value of properties.
Hence Renting can be more worthwhile than buying in the long-run for those who are not wishing to put down roots for few years or are strapped for cash.
Check out the reasons why renting is better than buying?
- No Maintenance Costs or Repair Bills
- No Big Down Payment
- Moving is easier for people who change jobs
- Rental rates increase once in 5 yrs
- Variety of rental options are available on the apartments
- Accessibility to the work place
- Access to amenities
While owning a home may be beneficial for a long period, for many people renting is the better option.Only you and your loved ones can make the final choice, so as you work toward an ultimate decision, keep an open mind. Remember that it’s better to wait and make the right call than rush into a choice you come to regret.