7 Valid reasons Why you should Stop Renting and Buy a Home!
The desire to buy a home is one big desire for most of the renters. Real estate has become the major investment sector after gold. This is why long-time renters are quitting renting and are flocking to cities to buy a home for themselves to set free from the increasing rents every year. Though it is just one of the reasons to stop renting and buying a new home, there are plenty of other reasons in the list of stop renting further.
1. Rising house rents
As per the usual renting practice, most renters actually worry about the consistently rising house rents, additional security deposits, and brokerage money which are a clockwise payable amount every 11 months. Eventually, they realize that it is not an investment. And this is the foremost reason to buy a home, by saving the monthly rents which sum up a large amount later.
2. No opportunity to customize
Most renters do feel the need of customizing their homes at some point. This is impossible for tenants to customize and decorate the house as they want. The freedom of renovating and decorating the way they want is turning out an impossible element while renting a house. So the urge of owning a home has become the aspiration for the long-term renters.
3. Owning a home means, less furniture
Renters who move a lot in rental homes end up buying more furniture. Each house or Apartment is different from one another which cause the individual to buy more furniture according to the size of the unit. On the flip side, homeowners living in a home just buy what they want for space without spending unnecessarily.
4. Stable payments
Usually, the landlords determine the monthly rent payable. In case of your own property, you’d have stable monthly installments for a particular tenure. You get to pay stable payments as long as you live in the house. There is no such troublesome of increasing rents or moving out if you cannot pay high rents.
5. Lack of basic amenities
Although you manage to find a unit in a location you most wanted, it might sometimes lack even the fundamental amenities every resident must have. You ought to compromise on the must-haves in case of renting. Most of the times, renters complain about the closed garages, unavailability of open space for parking, swimming pools due to which these renters are buying Flats for sale in OMR Chennai with all modern amenities which are essential.
6. A neighbourhood where you feel out-of-place
Even if you make up your mind into trying another round in relocating, you might end up in a new, rather odd neighbourhood out of your likings. Sometimes, the location lacks quality educational institutes, maybe not well-connected, or may lack basic supermarkets. This might eventually put you off from relocating again and may end up stuck in the same place for years until you get the courage of moving out from there.
7. No landlord would kick you out
Renters often face an unexpected situation of their landlords decides to sell the home out of the blue. Sometimes, the lease might end or they wish to rent the house for someone else. But this is not the case if you buy a home. There are no such unexpected situations in your living period unless you choose to leave the place.