Which is better option , buying a house or to live on rent?

We all need house, now choice has to make by us that whether we want to stay on rent or want to purchase. Both the option has their unique set of cost attached. So we have to evaluate the option accordingly.

These days the difference between the EMI and rental is the minimum. Moreover real estate price are stable these days. We can expect further rise in real estate but no decline for coming few years. If an individual stay on rent, he could be paying good amount of money which in short get wasted. On other hand if one choose to buy a house by taking loan then after stipulated period he will own a house. Own house is an asset and serve as security for old age and also good investment.

Sometimes people resort to wait and watch situation but if real estate price start increasing, about what the chances are high, those people won’t able to purchase a house as it will get much costlier which their pocket may not afford.

So, purchasing one’s own accommodation makes sense in these times.