Difference between rent and buying property

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Difference Between Rent And Buying Property:

Renting generally gives a feeling of lower liability. In metro cities you can rent a house worth Rs 50 lakh for only Rs 10,000-15,000 a month. At the same time, if you buy a home at the same cast, you have to shell out anywhere from Rs 30,000-40,000 as an EMI (equated monthly installment).

Is it better to rent or buy a house in India?

While owning a home is typically every Indian's dream, skyroketing property prices, especially in metros, have led to people preferring to rent rather than buy. In India, it has been observed that people who can afford to buy a house place a higher value on owning a home, with renting serving as a compromise. 

What is the difference between rent and buy?

Renting: You pay less up front. Relocating can be easier; if you think you might move cities or change jobs in the near future, you have less responsibility leaving a rental. Owning: Most mortgages require a down payment, and you generally get better terms with more money down. You may also need to pay closing costs.

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