Why should you buy a flat and not rent it in Mumbai?

 

When it comes to staying in Mumbai, everything could be expensive. There is no denying the fact that the city offers multiple opportunities to people who come down here to build their career. However, the demand for quality housing is too high here and so is the pricing. You also need to add the cost of living in the city with other costs, so if you rent here you will be financially drained. On the other hand buying a 1 bhk in Mankhurd seems like a more feasible prospect. You have to ensure that you are channelizing your money in a positive way and when you buy a flat you are able to do that. If you are not convinced then explore the following reasons that have been put together to signify why it is a good idea to buy a flat and not rent it.

Why buying a flat is better than renting a flat in Mumbai?

Ø  To begin with you just have to understand the fact that renting is an expensive prospect and it is a spending that can be avoided. In a city like Mumbai, where the property prices are skyrocketing the rent amount would be high as well and it will again be higher in prime locations. So, when you add that amount to your already high living costs and it would only put a financial burden on your shoulder. You just need to consider why should you be increasing your financial burden when you can easily lower it by buying a flat? Consider this and look for a 1 bhk flat in Mumbaifor sale.

Ø  One more thing that should convince you is that in a rented place you do not have any kind of freedom. You have to abide by the rules set by the landlord and you also cannot make any changes to the construction or, you cannot even repair anything on your own without notifying the landlord first. You should be able to do all of that when you buy your own flat in Mumbai from the reputed builders in Mumbai.

Ø  You should also figure out that the amount you are spending now should be utilized better if you buy a flat in Mumbai even by taking a home loan. The amount can be spent as the EMI amount and that would go into helping you develop an asset as the 1 bhk in Mankhurd. This is most definitely a positive thing that you should not ignore, the hefty amount that you need to pay as the deposit money could be better utilized if you just invest it.  Also you have to keep in mind that the rent amount would go up as you renew the contract. You should approach the builders in Mumbai and buy your own flat.

Ø  When you buy a flat in Mumbai you can be sure that you are investing in an asset that comes with a high ROI. Even if you do not stay here you can sell it or, rent it out and that would only lead to passive income. There would be many people looking for a 1 bhk flat in Mumbai for sale.

So, keep these pointers in mind and consider buying a 1 bhk in Mankhurd, instead of renting one. This would certainly help you find more financial stability.