Which is the best decision: renting or buying property?
This question concerns people who live in rental property. Buying a house is a big step and intimidates people who have newly moved to a city or is starting a family.
We have accumulated the advantages of buying a home over living in a rented property to help you make an informed decision why you should consider buying a property.
The value of a property always increases and the immense growth of real estate industry makes it even more lucrative to buy a property. Cities like Guwahati are growing fast in infrastructure and investing real market brings in great returns. One can make the most of the benefit if the property is located in key areas like Ganeshguri, Bhetapara, Dispur, Zoo Road, Athgaon, etc. Having a property in possession adds to one’s social status and it gives a sense of fulfillment for one’s entire life.
Tax benefits & Subsidies:
You can claim benefits on income tax when you buy a property. If you opt for a joint home loan, you and your spouse can benefit from lower-income tax, provided that repayment is done equally by both. Also, there are Govt subsidies like PMAY and Apun Ghar Schemes that you can benefit from.
Source of additional income:
Another big advantage of buying property is that you can rent it. It will serve as an additional income. The rapid requirement of rented house in Guwahati is increasing day by day. One can also use the rental to pay the EMI of the property if one has purchased it on loan.
Residence in the Capital City:
Residing in Guwahati, as it the capital of the State, gives one access to many opportunities. Infrastructure is always an advantage when residing in the capital of the State. Good schools, better medical facilities, everything is easily accessible.
Modification and customisation:
Owning your home means you can modify it, as you want. You can change the flooring, add a chandelier, colour the walls, pretty much anything without having to ask anybody. The value of the property also increases with the slight modifications you make every time.
Investing in real estate is one of the best decisions one can make. Buy a dream house today and reap the benefits out of it for a lifetime.