While owning a house is on everybody’s wish list, you should do the math properly if you think it’s a profitable long-term investment. In a city like Bangalore, the rising cost of inflation and the rapid uptrend in real estate prices have changed the property market. Bangalore property market is still stable compared to markets like Mumbai or Delhi, where the prices have shot up astronomically over the years.
Keeping this in mind, let’s take a look at 5 advantages of buying a home in Bangalore than renting one:
1. Affordable homes
The city has seen an exponential rise in the workforce emerging from various parts of the country and the world. This led to a rise in demand for affordable apartments in Bangalore. Apart from the main city, 2 BHK flats for sale in North Bangalore have witnessed tremendous growth over the few years as this locality offers a good variety of affordable homes.
2. EMI and rent value almost tally
If you are looking for a Property in Bangalore in a decent locality, one that is spacious and one that is packed with all the modern amenities then you also have to pay a decent rent for it. Now several developers deliver quality homes at an affordable price, which makes the EMI paid per month close to the rent that you might be paying. In this case, buying a home instead of renting one makes more sense.
3. Easy home loans
Housing loans are now easier to get than ever before. As long as you have a steady source of income, you would be able to easily qualify for a housing loan. The whole process has now become quicker and a lot more convenient. This has enabled many people in their 20s or 30s to achieve the dream of owning a home without much hassle. With such easy financing options buying a home in Bangalore is easier than renting one.
4. Tax benefits
Who wouldn’t like tax benefits? The right investments save a major chunk of your hard-earned money that goes into paying taxes. When you own a Property in Bangalore, with your housing loan you would be given tax benefits. If you are looking for 3 BHK flats for sale in North Bangalore you will not only get multiple options to choose from but also end up saving a good amount of money which otherwise goes into the tax and have a dream home for yourself.
5. It’s an Investment
When you have spent a certain amount of time in a particular city, it makes sense to buy a home that gives you a sense of belonging & permanency. You get a feel of settling down in life. Also, the property prices usually appreciate over a while which means you are enhancing your wealth over time if you invest in a property.