The Puzzling Rent-or-buy Debate
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Are you caught up in the rent vs. buy a house debate? Fret not. We have come to your rescue. After analyzing the pros and cons of If the above table still didn’t answer all your questions and you are still thinking of buying a home, you should ask yourself the following questions:
- Do you plan to stay in your current city for a long term (more than 5 years)?
- Have you calculated what your
EMI could be if you were to purchase a house? Does this EMI fit your budget? - What is your current ‘rent to capital’ ratio?
- What is the estimated annual increase in the value of the property you plan to buy?
About the author: Naveen Kukreja is Director, Paisabazaar.com
Image: Thinkstock
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