×
Pharande Spaces Website Form
Site Visit
Blogs

Buying v/s Renting a House – Which Is Better?

pharandespaces

Buying v/s Renting a House – Which is better?

Real Estate investment is seen as a source of equity building and a way to reduce taxes. Largely though, it pertains to a home ownership experience that involves a multitude of factors like income, market scenario, social status, lifestyle choices and more. Also, a lot of people believe that owning a home is a critical lifetime investment. This is the reason many people are confused whether to purchase a home or rent one as with homebuying, there are a lot of challenges.

If you are someone who’s looking for new residential projects in Pune, this question of buying or renting must be bothering you as well. Let’s try and discuss the pros and cons of both aspects to help you out.

Should I Rent or Buy a House?

The main thing you should consider before making a decision is the cost of rent v/s EMI for a particular property. It is the most prioritizing factor that you should take into consideration before reaching a final choice. On the other hand, renting is an option that most consider as a compromise. Yet, it has been observed that the majority of urban population prefer to rent v/s buy a house. Due to the changing dynamics of the country’s economic status, most of the people from the mid-income group are keener towards moving from one city to another for professional growth.

The youth nowadays are more focused on spending their disposable income in leisure activities before making a significant investment at an early stage in their life. This home owning cultural flip has disclosed a different side of the people who believe in living in today. Hence, renting has become quite popular. Still in most parts of our country, homebuying is associated with a traditional outlook that owning a home marks stability and security. In total, the choice depends on your situation and capacity to allocate your financial resources.

But we can still give you some clarity to help you with your decision. So for example, if you are looking for new projects in Pimpri Chinchwad or Pune, here are a few pointers you should remember while making a choice:

Pros of Homebuying:

  • Asset Building –

    Rent money can be put toward a home loan EMI, allowing you to establish a long-term asset.

  • Tax Benefits –

    Section 24 allows you to save tax up to Rs 2 lakh in interest paid on a self-occupied home, and Section 80C allows you to save up to Rs 1.5 lakh on principal.

  • Low Rate of Interest & High Rate of Appreciation –

    Home loan rates are at about 6-7 percent. After a decline in recent years, property values are expected to rise.

  • No Shifting/Moving –

    With your own home, you don’t have to worry about moving all the time.

  • No Interference of Landlord –

    You won’t have to deal with the landlord’s whims when it comes to maintaining the property, nor will you have to fight over who pays for repairs, painting, and other maintenance tasks with your own home.

  • A Sense of Security –

    Having your own home brings calmness and mental stability, as well as the freedom to decorate it however you please.

Cons of Renting:

  • Rising Rent –

    Aside from the annual increase of 8-10%, the landlord can raise the rent at any time or evict you.

  • No Tax Benefits –

    Renting does not provide any tax benefits.

  • Limitations By Landlord –

    You can’t alter or make structural improvements to the house without the landlord’s permission.

  • Post Retirement Challenges –

    You will have to continue paying rent even after retirement with no or minimal source of income

  • Societal Challenges –

    You must follow society’s rules, which may include pet restrictions and car restrictions among other objections.

Through the above-mentioned factors, you must have realized that homeowning is not just only a must have experience but a better option than renting, if you have long-term commitment in terms of your personal and professional life.

Yet, if you have made up your mind to go house-hunting this weekend, do plan a visit to any of the projects by Pharande Spaces. We are one of the leading real estate developers in Pune with a team of highly professional individuals focused on offering unique and highly qualitative residential projects.

Privacy Policy

This Privacy Policy governs the manner in which Pharande Spaces collects, uses, maintains and discloses information collected from users (each, a "User") of the https://pharandespaces.com/ website ("Site"). This privacy policy applies to the Site and all products and services offered by Pharande Spaces.

Personal identification information

We may collect personal identification information from Users in a variety of ways, including, but not limited to, when Users visit our site, fill out a form, and in connection with other activities, services, features or resources we make available on our Site. Users may be asked for, as appropriate, name, email address, mailing address, phone number. Users may, however, visit our Site anonymously. We will collect personal identification information from Users only if they voluntarily submit such information to us. Users can always refuse to supply personally identifying information, except that it may prevent them from engaging in certain Site related activities.

Non-personal identification information

We may collect non-personal identification information about Users whenever they interact with our Site. Non-personal identification information may include the browser name, the type of computer and technical information about User's means of connection to our Site, such as the operating system and the Internet service providers utilized, and other similar information.

Web browser cookies

Our Site may use "cookies" to enhance User experience. The user's web browser places cookies on their hard drive for recordkeeping purposes and sometimes to track information about them. The user may choose to set their web browser to refuse cookies, or to alert you when cookies are being sent. If they do so, note that some parts of the Site may not function properly.

How we use collected information

Pharande Spaces may collect and use Users personal information for the following purposes:

  • To improve customer service The information you provide helps us respond to your customer service requests and support needs more efficiently.
  • To personalize the user experience We may use information in the aggregate to understand how our Users as a group use the services and resources provided on our Site.
  • To improve our Site We may use the feedback you provide to improve our products and services.
  • To send periodic emails We may use the email address to respond to their inquiries, questions, and/or other requests. If User decides to opt-in to our mailing list, they will receive emails that may include company news, updates, related product or service information, etc. If at any time the User would like to unsubscribe from receiving future emails, we include detailed unsubscribe instructions at the bottom of each email or User may contact us via our Site.

How we protect your information

We adopt appropriate data collection, storage and processing practices and security measures to protect against unauthorized access, alteration, disclosure or destruction of your personal information, username, password, transaction information and data stored on our Site.

Private and sensitive data exchange between the Site and its Users happens after an SSL secured communication channel and is encrypted and protected by digital signatures.

Sharing your personal information

We do not sell, trade, or rent Users personal identifiable information to others. We may share generic aggregated demographic information not linked to any personal identifying information regarding visitors and users with our business partners, trusted affiliates and advertisers for the purposes outlined above.We may use third party service providers to help us operate our business and the Site or administer activities on our behalf, such as sending out newsletters or surveys. We may share your information with these third parties for those limited purposes, provided that you have given us your permission.

Changes to this privacy policy

Pharande Spaces has the discretion to update this privacy policy at any time. When we do, we will revise the updated date at the bottom of this page. We encourage Users to frequently check this page for any changes to stay informed about how we are helping to protect the personal information we collect. You acknowledge and agree that it is your responsibility to review this privacy policy periodically and become aware of modifications.

Your acceptance of these terms

By using this Site, you signify your acceptance of this policy. If you do not agree to this policy, please do not use our Site. Your continued use of the Site following the posting of changes to this policy will be deemed your acceptance of those changes.

Contacting us

If you have any questions about this Privacy Policy, the practices of this site, or your dealings with this site, please contact us at:

Pharande Spaces: https://pharandespaces.com/
Pharande Spaces,
"Tarangan", 98/2,
Pune - Nashik Highway,
Guruvihar, Bhosari,
Pune: 411039. India.
Ph.no. 02027230506
Email: enquiry@pharandespaces.com

Disclaimer

The documents and graphics on this website could include technical inaccuracies or typographical errors. Changes are periodically added to the information herein. Pharande Spaces may make improvements and/or changes herein at any time. Pharande Spaces make no representations about the accuracy of the information contained in the documents and graphics on this website for any purpose.

All documents and graphics are provided "as is". Pharande Spaces hereby Disclaim all warranties and conditions with regard to this information, including all implied warranties and conditions of merchantability, fitness for any particular purpose, title and non-infringement. In no event shall Pharande Spaces be liable for any kind of damage resulting from any clause or reason, arising out of or in connection with the use or performance of information available from this website.