5 Reasons Why You Should Buy and Not Rent a Home in the Long Run

With financial independence comes a dream to settle down in one’s own space, customized to one’s requirements and desire. Having a home to call your own can be extremely rewarding, both in terms of the physical space and a sense of mental satisfaction and bliss. Having said that, when a person first starts out on his/her own, s/he typically opts for a rental accommodation instead of directly purchasing a home. While this is a natural transition process until one is able to afford a home, many individuals continue to move from one rental accommodation to another even after becoming financially independent.

However, buying a home is always a good purchase decision from a long-term perspective. In fact, many flats for sale in Dahisar East and other rapidly developing Mumbai localities offer affordable and comfortable accommodation options for individuals and families. So, here are some reasons why it is a better idea to buy a home than to continue living in rental accommodations:

A One-Time Investment
One of the major reasons to buy instead of rent property is that it is a one-time investment. On the other hand, living in rented apartments means that you would need to set aside funds to pay your rent on a regular basis. This eventually reduces your purchasing power and causes an additional financial burden on the individual. While a home also involves maintenance costs and overhead expenses from time to time, it does not require one to meticulously reserve a portion of one’s salary every month to pay the rent. Thus, buying a home can be a rather reasonable decision from a long-term perspective. It is a good idea to opt for an affordable accommodation facility such as a 1 BHK in Dahisar or other localities that are fast developing but not overcrowded.

A Permanent Dwelling Place
However comfortable a rental accommodation may be, it is, after all, a temporary home from which one would have to move sooner or later. On the other hand, when you buy a home, it becomes your own dwelling place where you can either choose to stay permanently or let out on lease, or even visit on weekends as a getaway while residing elsewhere. The bottom-line is that having your own home gives you a sense of security and permanence as opposed to rental accommodations.

Flexible Options to Let Out the House on Lease
In a rental accommodation, you are a tenant to whom a certain apartment has been sublet by the owner. Thus, you are entitled to reside in this apartment by paying a certain stipulated amount as rent. On the other hand, having your own home makes you the rightful owner of the place, which implies that you may sublet the property to tenants if desired. Subletting your home or accommodating paying guests can become a supplementary source of income in the long run, which can help you during financially turbulent times. Many 1 BHKs in Dahisar serve as good rental accommodations owing to their prime locations, accessibility, and space within the home.

Flexibility to Personalize the Interiors
While rental accommodations allow you to bring in your props and décor items, they have strict restrictions when it comes to renovation and personalization. In a rental accommodation, you may not be entitled to painting the walls a certain colour or installing a bookshelf on the wall unless permitted by the owner. In contrast, buying a home gives you the flexibility to personalize your interior décor upon your discretion and as per your preference. You also have the freedom to change the alignment of the existing décor at any point in time, as per your convenience.

A Sense of Belongingness
Last but not least, buying a home ensures that you have a space to call your own forever. Over time, it becomes your faithful companion guiding you through the different walks of life and helping you establish a safe and secure haven for you and your loved ones. No rental accommodation can afford a sense of happiness as supreme as that provided by your home.

If there are many reasons why a rental accommodation may be initially convenient, there are more reasons why buying a home can be eventually rewarding. Buying an affordable and accessible property with sufficient space and ventilation in a city like Mumbai is certainly a dream come true. VKLAL Vishnu Phase I in Dahisar attempts to fulfil this dream of yours by providing you with a home that has all of these amenities and more. Click here to know more about us and our project!