Advantages of Owning a house over Renting it

A house is much more than just four walls and a roof. It ignites a range of emotions and thoughts in us. For some, it’s a sense of security; for others, it is about comfort and for others, it is a symbol of status and success. But there is also another aspect of the home to contend with. It has to do with numbers. The monetary aspect is also important as buying a house is often the biggest financial transaction in an average Indian’s life. Rent or buy is a decision that many struggles with.

HERE ARE 8 REASONS WHY OWNING AN APARTMENT IS BETTER THAN RENTING

1)NO LESSEE FUNDS:

When you own your own home, you are in control. You don’t have to deal with the landlord; whether it’s minor repairs or a complete renovation of your entire home, rental living is a pain in many ways. You are dependent on the landlord for water, electricity, maintenance and almost everything else. We at Urban Axis effectively take care of your home and its upkeep so you can relax.

2)EMOTIONAL SECURITY:

When you buy a house, you give your family their own space; home. At the end of a long day at work with a tiring commute and constant stress, returning to your own nest brings a sense of security and comfort that is simply irreplaceable. After all, there’s no place like “home” where you can truly be at ease and be yourself. With modern amenities, lush greenery and picturesque architecture, Urban Axis residences are a perfect place to be called home and keep your mood uplifted.

3)NO UNCERTAINTY:

Owning your own home eliminates the fear and anxiety about the possibility of early termination of the lease by the landlord. In addition, you don’t have to worry about renewing the rental agreement every year and repeatedly negotiating the rent. Process of buying a home with Urban Axis is seamless, you can be at ease for a lifetime as we do the all the one time paper work for you.

4)WITHOUT COMPROMISE:

Rent is an expense and the general tendency is to reduce expenses. Therefore, you may end up compromising on several aspects such as location, size and amenities. On the other hand, buying a house ensures that the property you choose will meet your expectations. Perfect location, best in class infrastructure and a bouquet of modern amenities awaits at Urban Axis you so you don’t have to compromise on anything.

5)EASY FINANCING OPTIONS:

Owning your dream home is now easier with the availability of easy financing options. You don’t have to wait until your 40s and 50s to save up for your dream home. You can buy it in your 20s and be the proud owner of a fully paid-off home in your 50s or even sooner. You need to be judicious in choosing a home loan provider who can offer you the flexibility to manage your home loan repayments by tailoring your home loan EMI to suit your current and future income. Urban Axis provides you easy EMI options. We have tie ups with best banks that makes your process hassle free and easy.

6)TAX BENEFITS OF HOME LOAN:

Your home loan principal and interest payments will bring you attractive tax credits. And remember, renting is more expensive than just the rent you pay. Your costs are higher because you don’t earn any interest on the deposit amount paid to the landlord (which is quite high in premium locations) for the duration of the lease. Urban Axis don’t just build you a house; we also provide you with financial advice and direction so you can enjoy the moment.

7)CREATING YOUR EQUITY:

Instead of paying rent, which is a net expense, you can pay the home loan EMIs, building your wealth over time. Effectively, with every EMI you pay, your equity in your home grows. Urban Woods by Urban Axis is located in one of Lucknow’s upscale neighbourhoods, Sushant Golf City, where your home value will only increase, generating a substantial return for you and thus in return creating an equity.

8)HOME AS AN INVESTMENT:

When you are likely to live in a particular city for a long time, it makes sense to buy a house to give you a sense of belonging and permanence. You can identify with the city and its lifestyle. You feel like you have finally settled down in life. In addition, real estate prices usually increase over the long term. Buying a home means you also increase your wealth over time. Delaying the purchase of a property will result in having to invest a higher amount (in addition to paying rent for a longer period). Finding a trustworthy real estate agent who can assist a buyer with every step of the house buying process, from selecting an apartment to obtaining financing and finalising the deal, is rather challenging, we at Urban Axis understand the joy of owning a home and making an emotional invest we assist you closely so you can live peacefully.

But deciding whether or not to buy a house also depends on the disadvantages. So after reading the 7 advantages of buying a new home over renting, here are some disadvantages of owning your own home.

1)High initial costs

Mortgage closing costs can range from (a percentage will come) of the purchase price and include various fees such as property taxes, mortgage insurance, home inspections, registration, taxes, first-year homeowner’s insurance and interior. Payback for these expenses can take up to (how many years).

2) Less mobility

If one of the perks of home ownership is stability, accepting an enticing job offer that requires you to pack up and relocate may require some extra thought. Counterbalancing this fear, however, is the speed with which properties are being sold.

3)Maintenance costs

Bending over to fit under the kitchen sink to fix a leak is a thrill for many first-timers. But when you own a home, you’re the first line of defence when it comes to repairs—especially if you want to save money by doing them yourself. Some subjects require the help of an expert. Not only will you be sweating until the AC is fixed, but you’ll also be writing a check to get the cold air flowing again.

Conclusion

It is clear that in this case, the advantages outweigh the disadvantages. And no matter how you look at the subject of rental vs. purchase makes a lot of sense. Buying a home appears to be an attractive proposition with increased affordability due to higher income levels, higher disposable income, availability of simple and creative financing options and tax benefits.

If you are looking for projects in Lucknow and want to buy your own house, then you should check out Urban Axis Group projects in Urban Wood Phase-1, Luvnest. The lavish 2 and 3-BHK apartments are straight out of your dreams and will fit under your budget. These properties are some of the finest in North India and come with an array of amenities and unlimited luxury. If you want to buy a house in Lucknow, visit www.urbanaxis.com