Rent or buy home, best option for woman: Is owning a home an emotional dream? Or is owning a home even a necessity? This is a big question to which we Indians traditionally associate it with both need and dream. Barring exceptions, home has been the pivot of life for women. It has also been his dream to have a house on which he can own the ownership rights. But in the changing times, after inflation and changes in life patterns, this question often arises whether buying your own house is the right decision or staying on rent… If you are a girl, whether a domestic, part-time worker, remote worker or Then, full time working women, you should definitely consider whether you should have your own house or it is better to live on a rented house. We asked Balwant Jain, an expert in tax and investment matters, many questions regarding this issue.
Buying a house is not an ordinary shopping, but a huge investment. Banks usually give only 80 percent home loan, the remaining 20 percent has to be paid from your own savings. Therefore, before buying, you will have to collect this money and for this you may have to live on rent.
talk about women So if a woman is married, or will live with a family throughout her life, and is currently living on rent, then long-term or lifelong (renting) may be a situational option for her. Because, the entire family (husband, father, brother, children etc.) will be with the woman to deal with the hassles related to changing house etc. But if they are single then they should start planning to buy a house in time.
Balwant Jain says that instead of debating whether to buy or rent a house, the question should be when to buy a house and when is it best to live in a rented house. Once the city is decided then efforts and planning should be made towards purchasing it. For women, home also gives a feeling of sense of satisfaction. The satisfaction, happiness and respect that women feel in their home is more than that of men. (Also read- Daughter’s Property Rights: Daughter has the right on ancestral and father’s property but can be evicted in one case)
Buying a house is also important…
If the woman remains alone in the future, or is still living single at present, then she must buy a house. He should make this purchase in a city where he is completely ready to live. Once the city is decided, plan on home loan etc. to settle down. Single women should also buy a house for their safety and security. For more such information related to women and personal finance, you can click here.
Getting a house on rent is becoming more difficult with changing times, people living in live-in also sometimes face difficulty in getting a house in cities. Balwant Jain says that it is not possible to deal with the hassle of changing house and renting a house alone for a long time, when job and income are volatile, a rented house will save you from rental expenses. Considering the above factors and reasons, you should decide what you think is right for you and proceed accordingly.
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Tags: Buying a home, Home loan EMI, International Women’s Day, Rental, Women Entrepreneurs, Women’s Finance
FIRST PUBLISHED: April 22, 2024, 08:03 IST