| Buying or Renting a house depends upon the personal | | | | If you do not like the locality of your house, you can |
| opinion and financial status of each and every individual. | | | | change it at any time. You don't have to think a lot |
| The following are the advantages and disadvantages | | | | about relocating. |
| of Buying and Renting a House: | | | | Disadvantages: |
| Buying a House: | | | | Landlord can increase the rent at anytime. |
| Advantages: | | | | The landlord can send you a notice to vacate the |
| Buying a house increases your asset. | | | | house at any time on violation of any term or condition |
| Houses have a guaranteed appreciation over a period | | | | mentioned in the home rent agreement. |
| of time. | | | | You have to pay rent forever for the house you are |
| You don't have to pay monthly rentals. | | | | never gonna be the owner. |
| Buying a house gives you a sense of ownership. Once | | | | You can't modify your apartment as you like. |
| you pay the loans taken on the house, you own the | | | | Conclusion: |
| house. | | | | Buying or renting a house depends upon the personal |
| You can decorate your house in the way you like | | | | opinion of each individual, since both the option has its |
| without getting any permission from others. | | | | own advantages and disadvantages. Taking a decision |
| Disadvantages: | | | | also depends upon the financial status of the individual. |
| You are responsible for all the maintenance that has to | | | | For a person who desire flexibility of changes, renting a |
| be taken care of. | | | | house will be a good option. On the other hand, if one |
| You have to think a lot before relocating to another | | | | is looking for a long term investment and wishes to |
| place. | | | | increases his asset, buying a house will be the best |
| You have to pay the property taxes. | | | | option. |
| You have to pay the Stamp duty, broker's fee, | | | | Buying a home is one of the smartest financial |
| insurance costs, society charges, registration fees etc. | | | | decisions most people will ever make. It offers an |
| Banks never finance your entire home loan. They may | | | | excellent investment prospect. If you rent, you'll always |
| take care of 80-90% of your home loan requirement | | | | be poor. The longer you rent, the less likely you are to |
| and the remaining amount is to be paid by you. | | | | buy. If you have saved some amount for the deposit, |
| Renting a House: | | | | buying a house is the best option. By renting a house, |
| Advantages: | | | | you pay a lot for what you are never going to be the |
| Maintenance of the House is taken care of by the | | | | owner. By paying rents for a long time, you will never |
| landlord. | | | | be able to save for a deposit to buy a house. |
| You don't have to pay property tax for the house. | | | | |