In a recent podcast by Bombay Shaving Company founder Shantanu Deshpande coversing with real estate entrepreneur Ajitesh Korupulu on 'Investing Money In Real Estate. On this podcast the former put his arguement of renting a house across latter's buying house and paying emi.
Futher disscussion over this revealed that ajitesh is a firm supporter of buyers, explaining that the house becomes an asset over time and appreciates in value.
On the other hand the Shantanu is a steadfast advocate for the idea of renting a house, he shed light on the facts that you can rent a larger house than the one you can buy. The money you are left with insteaed of paying a EMI can be invested in public markets which offer far more liquidity than real estate.
When buying a home, a sizable initial financial investment is frequently needed. This is avoided by renting. People may be required to pay the first month's rent in advance in addition to a security deposit and first month's rent, which are usually more affordable for those with less savings.
Every net mortgage payment, you gain a greater understanding of the house's worth. A mortgage with a fixed rate, as opposed to rent, which can rise annually, locks in the monthly payment, making it easier for the borrower to budget.
L.C.Mittal, Director,Motia Group said "Renting offers the benefit of easily moving to a new location or expanding to a larger space in response to changing needs. This is especially helpful for people who aren't sure what their long-term goals are or who aren't ready to commit to a fixed place just yet."
Ashwinder R Singh, Co-Chair CII NR Real Estate & CEO-Residential, Bhartiya Urban, said, "When deciding between buying or renting a home, consider your financial goals and lifestyle needs. If you value long-term investment and stability, buying a home may be more cost-effective. However, if you seek flexibility and minimal maintenance responsibilities, renting could be advantageous. Ultimately, the best choice is the one that aligns with both your financial and personal objectives."
