Buying a House versus Renting one

by Jyoti D. Real Estate Bloggers

As the millennial generation is gearing for independent habitations, one question that has been a concern is whether to rent or buy a house. While the socio-economic factors form a significant segment of the decision, the city itself can overpower the choice simply because it directly corresponds to the standard of living.

Mumbai being a preferred metropolis, every city within has a unique disposition to offer. However, Dadar is one location that ranks in the top five in almost all aspects like connectivity, infrastructure, diversity, accessibility, quality fundamentals, essentials, security, and many such attributes.

The Mumbai Suburban Railway’s network divided this city into two main sections-Dadar East and Dadar West, that interconnect the entire Mumbai City. Property in Dadar East has displayed a considerable augmentation owing to its direct parallels to South Mumbai due to its connectivity and ease of accessibility from other parts of Mumbai.

On average, 3 & 4 BHK flats in South Mumbai are the most sought-after abodes by families, but one also has to compensate for an elaborate cost of living. Dadar has retained its traditional heritage and integrated modern administration for harmonious living.

All these factors have prompted an accelerated increase in demand for property in Dadar East. Thus the real estate value of this city has concreted itself as a profitable investment in the long term.

To analyse whether renting an apartment or buying one, let us look at the various parameters that can aid the decision:

Long term impact financially

Looking at the collective expense from renting and buying an apartment, the time frame shows two different scenarios. For the momentary period, renting seems more feasible while the soaring prices of an apartment seem insurmountable.

However, one must analyze the long term benefits from each. The accumulated rental expenses, in the long run, surpass the total value one pays for ownership.

Dadar being a cost-effective location, owning an apartment reduces the overall expenses by a sizable amount.

Wealth generator by owning a house

As mentioned earlier, Dadar has abundant resources to ensure a quality standard of living. This factor itself is the USP as working professionals seek a conducive neighbourhood that offers a thriving city life, work-life balance, and easy accessibility.

After factoring in all these attributes, demand in this city provides rewarding rental returns.

Thus, from an investment standpoint, you get an extra source of income.

Buying a property gives you the liberty to customize it

Renting an apartment comes with tons of restrictions. One has to always seek permission from the landlord to make any alterations.

If you own an apartment, you have the freedom decorate your home as you like.

The stability that comes with ownership

As unpredictable as the pandemic years have been, buying a house appears as the stable option. Also considering the life after retirement, owning a house is a steadier option.

Dadar has sound fundamentals that are essential to live a healthy & stable life. Looking at it from all aspects, it is most suitable for families, retired folks, young professionals, cosmopolitan and no matter what background, Dadar can accommodate all needs.

A solid reason why among most ongoing projects in Mumbai, the statistics show that 3 BHK flats in Dadar East are preferred.

Quality of Homes

With regards to the reputation of this city, real estate developers are competing to provide quality homes. A plethora of options are available for the luxury segment as well.

A project by Bombay Realty that has stood out is the One ICC Mumbai which offers 3 BHK flats in Dadar East embodying the opulent lifestyle in an abundant city. This is an excellent opportunity to not only live a luxurious life but also invest in Dadar city!