Shelter is one of the fundamental needs of human living. When that is the case, there is always an ask whether one should buy a home or stay in a rented place. If one is buying a home, should it be a villa or an apartment? As the best real estate company in Chennai, Wisdom Properties elucidates the benefits of buying a villa over renting a home.
Yes. You are the boss and owning your own villa gives you a sense of safety, security and stability. It is your space and is not only a tangible and solid asset, but also one that delivers value a s a long-term investment.
Over time, the value of your villa will only increase, providing you with an excellent return on investment. This is especially true if you invest in hot and upcoming areas like plots in Sunguvarchathiram, plots in Guduvanchery etc.
As the owner, you have the freedom to design your villa and decorate it aesthetically. You can make design and build to your style, budget and preference.
Villas offer more privacy than apartments or townhouses. They are typically detached and have their own outdoor spaces and patio. So, you can rest and rejuvenate at your ease!
As a tenant, you have limited control over the property. There are many different types of landlords and mostly you will need their permission to make changes or improvements for anything big or small.
Renting does not allow you to build equity in the property. All rent payments go to the landlord, not towards owning the property. Hence, considering the long-term, it is better to purchase a villa in the outskirts and live comfortably by paying monthly EMIs, rather than having a rented property and paying a monthly amount.
Every landlord in India will ask for an advance which may be a considerable amount. Further, they may try to drag their feet in paying back the advance when one vacates the property. Landlords also raise the rent, often annually or every two years. With increasing cost of living, it will be difficult to plan for the future.
Renting is definitely less stable than homeownership. Everything is dependent on the landlord’s whim and that can mean increase in rent, sudden requests to vacate or anything else. If the rent becomes too much and unaffordable, it will mean that you will have to start house hunting again.
Considering all of the above, it can be clearly seen that it is best to buy a plot and construct a villa in Maraimalai Nagar or any other place rather than stay for rent.
Wisdom Properties is the best real estate company in Chennai, and we have been in business for over a decade. If you are looking for plots in Guduvanchery, DTCP approved plots in Oragadam or an independent house in Maraimalai Nagar, then Wisdom Properties is the best company to approach. We have helped thousands of families and investors achieve their aspirations.
Further, all the title deeds are clear and the company has an excellent reputation. Hence, getting loans from financial institutions for eligible consumers will also not be a challenge.
For more details of projects, layouts and other details, please feel free to contact Wisdom Properties at +91 93606 93606 or just drop into their office at No.1, 5th Cross Street, New colony, Chrompet, Chennai - 600 044, Tamilnadu, India.