Gurugram is one of the dream investment destinations for Indians and NRIs. One dilemma that anyone who ever considers investing in property faces is whether to buy or rent a property. Even in a stable location like Gurugram, where the rate of development is high and the return on investment is promising, people often wonder if they should buy a property on loan or rent residential or commercial spaces in order to get the maximum profit.

Relevance

The relevance of buying or renting a property differs from person to person. Buying property comes with its own sense of security and sentiment. In fact, real estate is considered the safest investment after gold and fixed deposits.

The post-lockdown situation has again created a sense of urgency for buying houses and hence, more and more people are looking forward to taking advantage of the readily available housing loans. Note that when you have your own property, its value also appreciates over time.

On the other hand, the Covid-19 situation has made the rental value of the property agreeable to the budget too. What you need to keep in mind is your purpose and determine the relevance on the basis of it.

Process

The process of buying or renting property is time-consuming and often requires professional guidance. This process requires full involvement and often, home-buying takes more time than renting. Moreover, a stable home can cause a hindrance to your job prospects if you are in a job position that requires you to move places every now and then.

Costs

Calculating the costs involved is the ultimate factor that decides whether buying a property is better or renting. A common thought is that when the EMI of a house equals the rent amount in some cases, why should you not buy a house. People who believe this often neglect the fact that in the long run, you end up paying a significantly large amount when you buy a property on loan.

On the other hand, when you rent a property, there is a chance of saving a big amount of money required for the downpayment of your dream house. In such a case, you will not end up losing big amounts of money in the long run.

Conclusion

Try to calculate the immediate and gradual profitability of your potential investment before finalizing your decision. If you plan and research well enough, you can find the property of your dreams in Gurugram.