Potential homebuyers have always been categorized as either buyers or tenants. For instance- Mr. Shubhajit Chatterjee was looking for a suitable property in north Kolkata for his family of four. But his search and research went on without any limit as he was totally perplexed with the various options he was getting within his budget. There were luxury properties with rental provision and as always there were on hands. In this course he almost had reached to a saturation point where he had to make a full stop to it. He chose buying over rent. Here’s why this confliction between buying and renting shoots a potential buyer at the beginning of the entire occasion-
Rented properties
Rental properties don’t need humongous money to be invested after. The choice has flexibility of alteration of residential items. In case any problem with the property; landlord is the person to contact without spending a penny from your pocket. Hardly 20% of the property value has to be paid during the contract. So there is no burden of interest of home loans involved in the business.
Buy properties
Your asset is your sole possession. It’s an investment of lifetime. None can throw you out of your house as there is nothing that deals with any contract here. Stability of an asset brings you the optimum level of security and pleasure. Over the time the valuation of the property gets higher. Real estate investment is much secured than investing in any bond or mutual fund which envelops market risks. There would be no tantrums of any landlord.
If you take a home loan to buy your residential property the principal amount repaid up to 1.5 lakhs qualifies for presumption under Section 80C; while up to 2 lakhs of interest paid is tax-deductible under Section 24. For tax deduction buying asset could be a safe choice.
Rather than rented properties owning asset has a greater sentiment involved. You are going to have the entire control of your property for decades. You can put them on rent or use as PG accommodation too. Thus owning home makes more sense than being a complaining tenant.
_ By LNN (Liyans News Network)
Rented properties
Rental properties don’t need humongous money to be invested after. The choice has flexibility of alteration of residential items. In case any problem with the property; landlord is the person to contact without spending a penny from your pocket. Hardly 20% of the property value has to be paid during the contract. So there is no burden of interest of home loans involved in the business.
Buy properties
Your asset is your sole possession. It’s an investment of lifetime. None can throw you out of your house as there is nothing that deals with any contract here. Stability of an asset brings you the optimum level of security and pleasure. Over the time the valuation of the property gets higher. Real estate investment is much secured than investing in any bond or mutual fund which envelops market risks. There would be no tantrums of any landlord.
If you take a home loan to buy your residential property the principal amount repaid up to 1.5 lakhs qualifies for presumption under Section 80C; while up to 2 lakhs of interest paid is tax-deductible under Section 24. For tax deduction buying asset could be a safe choice.
Rather than rented properties owning asset has a greater sentiment involved. You are going to have the entire control of your property for decades. You can put them on rent or use as PG accommodation too. Thus owning home makes more sense than being a complaining tenant.
_ By LNN (Liyans News Network)
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