Reasons Why Owning a House is Better than Renting

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Reasons Why Owning a House is Better than Renting

A home is where you truly be yourself and spend the most time with your family. Many people renting homes dream about buying their own home because of its many benefits. Today, we shall know why owning a home is better than renting. Without further ado, let’s go.

Rent is ever-Increasing

As the property market increases, so do the rents. You are paying an increasing the amount of fixed payments for a property that you don’t even own! When you compare your monthly EMI to renting a home, you’ll notice the difference.

Homeownership is a long-Term Investment

Renting your home means making your landlord richer. Homeownership is a great long-term investment as the appreciation is saved in the form of your property for the future. Smart investors and real estate tycoons have become billionaires by investing in developing areas and selling properties when the market is at its peak.

Low-Interest Rates

Interest rates have become competitively low post-Covid. Now is a great time to purchase a home instead of renting. Locking into a low-interest rate today could save you a lot of money for the years to come. Many state governments and bank loan programs have introduced zero down payment home loans for qualified home buyers.

Low-Risk Investment

Real estate investment is a safer alternative to mutual funds or stocks. When owning a home with a fixed-rate mortgage, you are in for no surprises. As the property prices go up and as you are paying down the loan amount, you are gaining equity. All you need to do is buy a home in a location that will develop in near future.

Extra Income Source

Got an extra room? Rent out our for extra income. This is just not possible while renting a house as you need permission from the landlord for every little thing. You can look for short-term tenants or occasionally host guests via Airbnb. As a homeowner, you are in charge of your home and have the liberty of gaining extra income from your home.

Tax Deductions

Being a homeowner means you attract short-term savings via annual tax write-offs and mortgage interest payment deductions, along with other deductions depending on your financial health. These deductions often amount to significant savings, and they are of course not available to renters.

With all of the benefits of owning a home, you owe it to yourself to own assets instead of increasing your landlord’s wealth. Chances are, interest rates won’t stay put at such a low for much longer. That’s why it is crucial now more than ever to purchase your dream home. If you are someone who wants to purchase a real estate property that will surely fetch you profits, Lakshmi Infra is where you need to go.

Lakshmi Infra has been an industry-leading builder with prestigious properties currently in Kondapur and Miyapur. You can purchase luxury 2bhks and 3bhks in Hyderabad at prime locations like Kondapur and Miyapur by contacting Lakshmi Infra. Lakshmi’s Cadillac in Kondapur and Lakshmi’s Emperia in Miyapur have luxury flats for sale. Lakshmi’s Cadillac is a community of 348 units of 2 & 3 BHK in 3 blocks of 12 levels. The project has an elegant Club House with a roof-top pool and many more exciting amenities. Lakshmi’s Emperia has 450 exclusive units set in 4 blocks of 10 floors each. The project has many modern amenities like a state-of-the-art gym, multi-purpose hall, children play area, walking track, etc. Register your interest by mailing to marketing@lakshmiinfra.com today!

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