To buy or to rent is a never-ending dilemma for most of us. To add to this confusion, we are saddled with a lot of well-meaning advice from our friends and family confusing us even further. While the prospect of buying apartments in Bangalore does sound enticing, the fear of monthly EMI’s looms large upon us. You may have read several articles regarding how renting trumps buying any day. But let’s rewind to 2020. This pandemic has taught us the biggest lesson that big or small; you need to have your own home where nobody can move you out and where you can be protected from deadly viruses even. 

Despite this, you may have heard arguments that the money saved by renting properties in Bangalore is greater when compared to the costs of owning a house and can be used to invest in stocks or mutual funds. But, beware; the stock market is a highly volatile place when compared to real estate which is known to give much stable returns. We have observed how real estate appreciated to the tune of 6-10 times in certain areas during the real estate boom in the period of 2002-2013. Though, not in similar proportion, real estate investments do appreciate over a while.

Additionally, it would be a source of income to you if you rent out your apartments in electronic city Bangalore which can be used to pay the EMI or fund a part of the EMI. An own house can also be set for a reverse mortgage if needed. Apart from this, proximity to the workplace which was once considered a huge reason for renting no longer holds significance with more and more companies adopting the work-from-home culture. To further summarize, living in a rented property for sale in Bangalore has its cons as you have almost little to no freedom to customize the place or to have pets. Tenants are imposed several restrictions ranging from no house parties to no eating of certain foods. Added to this, to be constantly on the move can be very stressful for you and your family.

Buying a property in Bangalore is a huge decision to take that requires considerable thought and proper planning. After all, you wouldn’t want to be saddled by a huge loan and not have enough saved for your other goals. What you can do is to invest in properties in Bangalore when you can put at least 50% of the property price from your pocket. Another option that you have is to not buy your dream home as your first home. You can settle for something that fits in your budget for now and go for the house of your dreams when you can pool the required resources.

Now that you have all the information at hand, you can make an informed decision based on your financial position, debt-income ratio, need vs. want of buying a home, expected trends in the real estate market and other factors.

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