Deciding to buy a house is one of the biggest investment decisions in anyone’s life. Being a huge investment, many home buyers seek refuge with home loans. And since with housing loan, EMI tenures are for a long period, there arises a question whether is it worth paying EMIs and owning home or to stay in a rented home?    

Why to go for EMIs?

  1. With interest rates coming down to record lows and the government increasing the tax deduction limits on housing loans, it makes perfect sense for buyers to avail housing loan, to enhance their gains.
  2. One can always rent out the property if not occupied by self and the rental income can be used to pay EMIs.
  3. The major reason for owning a home is long term capital appreciation benefits.
  4. Owned house can be set for Reverse Mortgage and that can provide much needed source of income.

Why to go for Rentals?

  1. With frequent job changes or transferrable jobs, getting tied down to a city/locality doesn’t makes much sense. Rented homes can be easily be transferred without any long-term commitment.
  2. Lower security deposits for rentals compared to high down payment for housing loans.
  3. Lesser expenditure on regular maintenance.

Although both options have their own benefits, but investing in own house in Tier-2 cities brings in more benefits than rentals. This is due to the fact that the cost per square feet is way less than Tier-1 cities and with ever expanding scope of Smart City project by the Government of India, these cities offer almost the similar lifestyle as that of big cities. The major such example is Dehradun City in Uttarakhand wherein the real estate development is booming and this has brought in many options to the home buyers in various budget segments like studio flats, 2 BHK flats, 3 BHK flats, 4 BHK flats, villas and farmhouses. Since it is easy to avail housing loan, if the buyer is investing in apartment, many projects have come up to cater to the growing trend of apartment in Dehradun.

2 BHK Flats in Dehradun for Sale
2 BHK offers balconies on 2 sides.

3 BHK Flats in Dehradun for Sale Corner
2 BHK offers balconies on 3 sides.

2 BHK Flats in Dehradun for Sale Regular
2 BHK offers balconies on 2 sides.

Penthouse for Sale in Dehradun
The penthouse offers luxurious living with a clear scenic view of Mussoorie.

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