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Dream home : buying Vs renting

Created by : Esha Johar, Risk Analyst, Irevna  | 11 02 2011 07:13:06 +0000
Keywords : investment property flat rent house for rent studio flat buy home
Activity:  439 views;  last activity : 04 16 2012 01:12:31 +0000

A set of people believe that dreams change and hence buying a dream home just increases the maintenance cost whereas renting one is relatively better option. In today's world where the property rates are increasing like nothing else.

Which decision do you think is wiser?

  
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Buy Vs Rent
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It highy depends on your taste, your location and occupation. In case you are not going to be stable in one city buying a home just increases your maintenance cost. The property rates might rise but that would not do any help here because you are never going to sell your dream home anyways.
By Esha Johar, Risk Analyst, Irevna  11 02 2011 07:13:06 +0000
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Dear Esha, Thanks for referring this debate to me. Well I have a different school of thought when it comes to Dream Home renting. Yes it highly depends on your taste location and occupation and also this fact should also be considered whether you would be geographically stable in the span of your career or not but it is for sure that in retirement years you would like to be geographically stable at large. So buying a dream home in the city / town you want to stabiles and renting it out for the years you are not occupying it can resolve the problem of hefty maintenance. And as you yourself has agreed that property rates are rising, one can use it as a tool for retirement planning without selling it. Taking a reverse mortgage solves your problem; you enjoy being in your dream home in at least your retirement years if not in the span of your career and at the same time this home gives you pension throughout your life. You always have a stable long term retirement planning as well as a stable retirement life at least.
By Prassan Kumar Sharma, Content Writer and Domain Consultant, FREELANCER  | 01 31 2012 12:52:42 +0000
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This house is definatly a dream house
By Aaron laws, Lawyer/Attorney, attylaw  | 11 04 2011 07:12:52 +0000
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Other than ones mind set, it also depends a lot on the individuals monetary condition. For permanent city location, purchasing is any times better than renting. Other than lease deeds and all, the loan that you take acts as a major tax relief too.
By Prasenjit Dasgupta, Corporate Planning/Strategy Senior Manager, Sahara India Media Entertainment  | 11 03 2011 06:09:27 +0000
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Depends on ones mind set. If one has lot of capital cash, it is worth to convert into dream home and enjoy. Even it is worth taking a loan and build our own dream home. Any day the value is better than any other investment appreciation. If one is job hop, frequently then better go for rented one for short period, but build a dream home ASAP is a wise decision.
By Gopala Krishnan.H, CMD, DJA-Inc  | 11 02 2011 10:25:17 +0000
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Dear home mean dear of you and it will be full filled when that home is your own. Then only your dream come true.Example Car:- you have a dream to have the best car in your house that dream will come true only when you buy that car from show room or the place where it is available.
By Mohammadarif.A.Shaikh , Consultant, My Learning Centre (CALORX)  | 11 02 2011 07:27:10 +0000
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ur right esha. i agree with u.
By puneet , Manager Admin  | 11 07 2011 11:58:03 +0000
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I agree with Esha. There are different mindsets in the market. Some want to settle down forever in a particular city irrespective of the real estate market and the loss of investment.

Purpose of buying or renting a house justifies their decision.


By Rupesh Mainkar, Asst. Manager/Manager -(Key Accounts- Business Support), RentWorks  | 11 02 2011 19:27:10 +0000
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This debate is not as simple as it seems to be ! There are various points and angles to both the decisions, let me try and list some of them and fellow members can add to it: Dream Home: 1) If you have the spare money to invest, this is the best bet especially in dire times like these where inflation is going up. 2) From the investment angle to it works out as it will only appreciate over the years. 3)Your monthly overheads increase like property tax, water tax etc. 4)Beware you will have to spend a lot on maintenance etc. You pay for the entire maintenance of common areas yourself. Rented place: 1) Save on monthly overheads bcos of common pool in sharing 2) Freedom to move out anytime in case you want a better location / bigger flat. 3) Taxes are paid by the onwer 4) Maintenance like electric /plumbing works taken care of bcos of electrician / plumber in your flat if its a large society. My vote goes for the rental aspect because of the hard and uncertain times we live in.
By Jaygopal Raghavan, Marketing Manager, Landmark Group  | 11 02 2011 17:22:56 +0000
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Always rent a house. You will have a choice to select houses. And the saying goes "Fools build the house and wise people live in them"
By Suryanarayan Murthy, Free lancer  | 11 02 2011 08:45:52 +0000
Argue for "Buy"
Argue for "Rent"
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