EMI vs rental for your next residential project in Pune

Nothing compares to the feeling of accomplishment and confidence that comes with owning a house, especially today, more so than ever, in the wake of the pandemic's anxiety and uncertainty.

With so many new residential projects in Pune, buying your own house may appear to be a lovely dream and a big life accomplishment, but it can be rather worrisome when it comes to preparing its finance. That begs the question: which one works out better? Grabbing a rental place in the new city abode OR incur EMIs and acquire your property.

Ownership

With so many ongoing residential projects in Pune, the pleasure that comes with owning your own house always outweighs the frustrations of living in a leased property. Although renting is a monthly payment that provides shelter for the duration of the rent, paying EMI provides both shelter and an improvement in the proportionate ownership of the property.

Investment

Gradually, if you make your EMIs on time, you will be able to purchase your own home. If you own this asset in the form of a home, you will benefit from capital appreciation as well as tax relief, which you would not receive if you rent a property. With plenty of ongoing residential projects in Pune coming up, investing in real estate has never been much simpler.

Preference

Owning your property gives you the flexibility to customize it to your liking. You have complete control over the appearance, function, and style of your house. A rental property does not provide you with this freedom, except for some basic interiors like furnishings.

Financial

While paying rent may appear to be less expensive in the long term, it is significantly more expensive than making EMI payments for your own house. It's crucial to remember that rent is an out-of-pocket expense, but an EMI is an investment with the potential to yield your own house or an asset that will not only take care of your needs but also of future generations.

Confidence and safety

If you own a property and paid for it through EMI, you would always be paying the same amount and will not have to risk losing your dwelling. In the case of a rented flat, you'll have to deal with rising rent, contract renewals, re-negotiation headaches, and the stress of needing to relocate out according to the demands of the landlord.

Income Source

Owning your own house gives you the freedom to lease it out or a portion of it to supplement your earnings, which can be used to pay for EMIs. This strategy would be advantageous in the long run since it not only relieves the strain of EMI and provides you with your own dream house.