Nowadays people in metro cities are a bit confused about buying a home. Many things like primary investment, savings, monthly expense, location, maintenance, privacy objective etc. are disturbing their mindset and finally choose to live in a rental home for the rest of their life.
But do you think these people are taking the right decisions?
Whether this rental
ideology gives any long term benefit?
Before moving to a home on rent do they really aware of their future, children and other social benefits? Like these many eye-opening questions have to be asked to ourselves before moving to a home which is a lifelong asset for us as well as for generations. Just make a diversion from the thought of rental home and plan for long term advantage on living.
Even if owning a house is still a burden for many citizens there are ways to lighten the burden like availing certain loan facilities and EMIs.
Still, some conflicts continue on both rental and own homes among human beings.
People in a rental home are really satisfied with their savings and monthly budget?
Yes, it’s a fact that the major savings of those people are engulfed by the monthly rent.
However, buying a house is still scary for average money income people, but if they approach certain banks who facilitate various loans owning a house would make the best-ever decision for them.
Paying back the loan as EMI(equate monthly installment) would not be as stressful as a rental payment.
If we made a comparison of total rent paid and EMI of own house for 20 years, we can see a drastic hike on rental money. So, savings are more satisfied in case of the EMI than rental and will serve the more peaceful living.
What about the maintenance and freedom of living?
It is not necessary that house owner have all the responsibility for maintaining his rented property, and sometimes it’s a heavy load over the residence of that home.
A bit of difficulty might be there while spending an additional charge over monthly rent on maintenance.
Such difficulties will get lighter and dissolved into null when we have our own home. Monthly maintenance would not be a great deal at the same time it’s a choice.
And there is no doubt on freedom and privacy settings in our own place, right?
Yes, the feeling of a flying bird is still incredible, freedom leads him forward and lives a healthy life, but for a pet bird (even out of the cage) he will have different responsibilities and formalities to follow for its survival with his owner.
At the same pattern people living in a home of others’ ownership have to be more formal in living and will have the responsibility to maintain the structure.
Less freedom and privacy still a matter in rental ideology.
How does personalization come into the role?
Being resident customization of our home is living art. It is a complete mood changing technique for a whole family. Renovation sometime becomes an inevitable one on increasing member strength.
Anybody in the rented home can imagine personalization of their home? No, never.
Because they are not permanent and have to practice the relocation in some period of time. The word relocation would not sound great for those tasted that flavor many times.
Do the society and neighborhood really matter?
Yes, a healthy neighborhood makes more beautiful living in our society. If we are a permanent residence for a long time in a locality the affection over the place and people there will be great and strong. For a satisfied living status, this bonding is unavoidable.
As per studies, rental people are less bonded with their surroundings and people around them which is because of their temporary residency. Society may not consider them as their part or sometimes they may get neglected.
So, let us make a wise decision at home, whether to buy or rent for lifelong.
Your house is part of you, which will assess your social status and which is a living wealth for generations.