Why Paying Home Loan EMIs Is Better Than Renting An Apartment?

If you are thinking of buying your first home, congratulations, you are heading in the right direction. Buying a house is a huge step in life, and it takes time.

Many of us grew up dreaming of buying our luxurious dream houses. With the growing cost of living, inflation, and aspects like affordability and job security take the limelight, leaving us in an ambiguous state of mind like- Is this the right time to buy or, how about renting?

Considering you are wondering about choosing one implies that you are at a stage in life where you have to make a responsible decision. To make this easier, let us explain some important factors and help you decide what to do.

The Monthly EMIs

In the case of buying a house: If you are someone who wants to start with a down payment, you might be wondering if it is wise to carry the burden of a home loan for a decade or more. When you take a home loan, you must plan the expenses for each month after leaving the EMI money untouched. Your credit score gets better with regular EMIs, while your property value appreciates too.

If we consider the consistent amount you pay every year (until the last month), it would be fair to say that you will beat the inflation. 

In Terms Of Investment: 

The cost of renting a 2bhk or a 3bhk apartment is as much as the monthly EMI of a home loan, and you will have to pay 10% more each year. A careful calculation indicates that you will be paying more when you rent a house, unlike your loan EMIs that remain the same. The icing on the cake- as you increase your EMI amount, the number of EMIs will come down, while on the other hand, the rent amount only goes up with each passing month.

You can avoid the trauma of dealing with other expenses like apartment maintenance fees and house rental clauses. 

The Personal Touch: 

Despite the burden of paying a loan, buying a house instills a sense of responsibility and stability in work. Apart from the game of numbers, there is always an aspect of personal touch of feeling at home. When buying a property, you always have the comfort of requesting the builder for a better house plan or modifications of your choice.

Some serious drawbacks regarding renting a house are ‘not having the freedom to paint the walls, no creative liberty, and no chance to add a personal touch to get an at-home feeling.’

If you are looking for a luxurious 2bhk apartment in Kompally, Hyderabad, you must look at Aparna Kanopy Yellow Bells.


Last updated on May 9, 2022

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