8th November 2019

Rent vs Ownership: What should you choose?

As per society, every person strives for some basic necessities, like food, clothes and shelter. Out of these necessities, while searching for shelter may seem like an easy task considering the number of real estate companies in Kolkata, most people spend their lifetimes trying to find the perfect home. This perfect home can be rented or owned. The decision of which one should be chosen depends on various factors.

Renting Vs. Ownership

Renting and owning a house are vastly different from each other. The planning involved, finances required, relocating, etc. are different when it comes to each.

Category Renting Ownership

Initial Investment

The initial investment in the case of renting is less. Generally, it is the rent of the first and last month as a security deposit. For ownership, the initial investment is high. It requires financial planning, especially for figuring out the mortgage, loans, etc.
Cash Outflow There’s a constant outflow of cash in the form of rent. The amount of rent might also change in the future, with rising inflation. After the initial investment, the outflow of cash is only valid for a specific period of time.
Repairs It is also much easier to get repairs done when renting a place. However, making changes or adding a personal touch to the living space could be forbidden by the owner of the home. Repairs, maintenance and any renovation is entirely on the owner and can become a hassle, financially.
Capital Asset

While there is no capital asset, relocating becomes easier when you’re renting out a place.

The value of any home fluctuates and is counted as a capital asset that can generate personal wealth if required.


What should you choose?

Choosing between rent and ownership will depend on a  lot of different factors. For years, people believed that renting is cheaper than buying but it has proven to vary on many factors like a person’s finances, location, property rates at that point in time, future plans, etc. In the long term, it makes more sense for a person to invest in their own home if they have a steady income and fewer chances of relocating to a different city. The Pradhan Mantri Awas Yojana, established in 2015 also provides affordable housing to the poor and aims to build 20 million houses by 2022.

For a healthy, happy future with your family, secure home is a must, which is easier with an owned home in a gated community. Be it with the support of home loans or with savings, owning a home can change a person’s life for the better, especially in a city like Kolkata where real estate rates are reasonable. To buy a home and call it your own, check out these projects by one of the leading real estate companies in Kolkata, Srijan Realty on this website -

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