Should You Buy A Home Or Rent It? Which Will Work Best for You?


The decision to buy or rent a property is often seen as impossible, with many people choosing the latter. In India specifically, it seems that those who can afford homes tend to put more weight into owning them and think of renting as a compromise. Most Indians typically put more weight towards owning rather than renting because they want the security and status that comes with it – this rings especially true in metros where property prices have skyrocketed over recent years. Let’s take a look at both options.


Renting takes place when you pay the house owner to live there every month. The payment made to the owner is known as “rent.” Renting is an expense incurred every month without creating any physical asset. You may think that renting throws money away every month, but this couldn’t be further from the truth. You need somewhere to live and always pay for something in some way or another when living anywhere long-term. However, renting an apartment or house may seem like a reasonable option until you realize how much time and money is wasted every month by relocating.

  • One of the best parts about renting is that you don’t have to worry about maintenance or repair costs. 
  • While renting, one can choose from many different properties in metro cities costing anywhere between 15k – 28k per month for houses worth over 60 lakhs. If you buy this same house outright, you’ll pay anywhere between 40k – 50k just on EMIs alone!
  • You have the advantage of choosing a property next to your school or workplace, which might be out of budget if you consider buying it.


Homeownership means buying a property to own it completely. Homeowners have intangible benefits, such as stability and pride of ownership. But, homeownership isn’t always suitable for restless or nomadic types or those who may find themselves unable to sell when the housing market is down. Changing one’s mind about where they want to live can also cost them more due to how expensive real estate transactions are.

  • Owning property also provides the sense of security and pride that comes with owning your very own home and real-estate investment being an asset-backed up by tax benefits that can appreciate over time through capital appreciation!
  • Renting is an expense that you must incur every month without generating any physical assets. Paying EMIs, however, provides dual benefits; not only does it provide for one month’s shelter but also increases your proportional ownership.
  • With renting, you may have to relocate on short notice, which entails a lot of wasted time, money, and energy, but that’s not the case with owning.


Housing markets and life circumstances vary, but it is essential to consider all aspects of owning or renting when making this decision. You should take into consideration what kind of home you want- whether it’s for your family now as well as in the future; how much money each option would cost (especially monthly mortgage payments); any downsides such as higher interest rates on loans versus rent-free living arrangements. Every person has their own unique set of considerations based upon where they live currently and desires about long-term plans like kids attending school nearby and living close to your workplace, among other things.

Owning or renting a home is a big decision that you’ll probably make at some point in your life. Before making the definitive decision, it’s essential to do your research and understand the advantages of each option. In this blog, we’ve outlined the main points in favour of each and listed some special considerations to consider when purchasing a home. So do your analysis and take the time to come to a thoughtful decision that meets your individual needs!