Advantages of home ownership over rental accommodations The main benefits of living in one’s own home, rather than a rented home are: A sense of security and pride in home ownership. You will not have to face un necessary charges or increasing rentals. When you buy a house with a loan, you are already aware of the EMI required to be paid over the long term. Hence, the future costs are predictable and more stable. There is less likelihood of interference in your life, when you live in your own home. How to decide whether to buy a home or live on rent Experts advise that youngsters can consider buying a home in the early stages of their career, if they have a commitment to stay in a particular city. Even though it may seem difficult to manage the EMIs initially, after 5-10 years when their salaries increase, while the EMIs still remain the same, it would be a relatively lower proportion of your salary. Moreover, the property p...
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