When it comes to renting or merely buying a property, both of them have their points. However, the benefits depend on the person and how they want to utilize their money in the long run. So, what is better- Buying or renting a house?
Buying a property includes some benefits like no yelling from the homeowner, forms a permanent asset, no rules, and so on. Then again, renting has no down payment, no home loan depth, and yes, a lot of rules to follow. Confused again?
Now, let us present an analytic view on the differences and similarities between these two. Just for the record, we prefer renting instead of buying as it provides tons of user benefits. Also, you can check our site to get all the user benefits from renting your apartment. Renting or Buying depends on where you live.
This may come as a surprise to some of you, but the benefits of buying or rending vary from region to region. For example, if you are living in a place like Dhaka, Bangladesh, or any other developing country, getting a house to buy is more user-friendly. There are many regions in this place where you have to pay a lot of money just to rent a place.
Furthermore, you are bound by rules and regulations, and so enjoying your life can be a challenge.
However, not everything has its drawbacks. On a broad scale, renting offers more benefits like no home loans, no EMI, no down payment, and so on. You don’t have to pay any immediate money or break the bank in any way.
A good business strategy
If you can buy them at a reasonable price, a property, especially in places like Banani, Gulshan, Baridhara Diplomatic Zone etc., can turn out to be highly profitable. A good business strategy, right? Well, it depends on the area entirely. For someone who has just retired can invest his life savings on a property and leave it for his kids. Then again, you can start a small real estate business by buying when the price is low and selling it when prices are high.
Real estate forms an asset, provides more freedom to the user, and of course, no rules over visitors. Turns out, the earlier you start the business, the sooner you will see the lights of a good profit. And you don’t have to pay off any taxes from the profit you earn.
Take a quick peek at the pros and cons of buying a property.
- Saves money on income taxes.
- Freedom for alteration.
- Generates passive money.
- Can be sold at a good profit.
- Needs tons of bank balance.
- Repairs and building safety is up to you.
- Have to pay property taxes.
- A lot of money needed if you rent the apartment.
And what about renting?
Either you want to buy or rent, the user experience is kinda the same. However, renting an apartment has some drawbacks like rules and restrictions or paying rent in due time. If you are a service holder, renting an apartment may be the only choice for you.
- No down payment is needed.
- Zero home loan debt.
- Short-term entering flexibility.
- Long-term leases are possible.
- Home taxes are not applicable.
- Temporary usage for users.
- Rules and regulations may not allow visitors, bachelors, or pets.
Why renting is better than buying a property in Dhaka?
Well, the answer really depends on your bank balance and how much you are willing to pay on rent or property. The price of real estate in Dhaka is hiking day by day. Buying the entire thing won’t be a good option in present conditions.
But when you don’t have that much money in your pocket, or you have to relocate frequently, try renting a house instead. You can try out our services and find the best rental space of your office or work shop.
So, try putting all these conditions in place and see what fits best for you.
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