You might be grappling with the question of whether to rent or purchase a house. Both of them have their own upsides as well as drawbacks.
For some, soaring property prices in Mumbai might be the reason to opt for a rented house, whereas, those who earn sufficiently, can purchase their own house in affordable housing projects such as Marina Enclave Malad.
Ultimately, you need to weigh-in certain factors such as your financial health, monthly income, expenses, long-term plans, and real-estate pricing in your area. Calculate the costs that you may incur for both, buying or renting a house, and then determine whether you can arrange the required upfront for buying a house or if it is beneficial for you to opt for a rented one.
Also, consider your long-term plans and the duration for which you’ll be needing the house. It does not make sense to buy a home if you’re planning to relocate again in the near future.
Else, if you have decided to settle down with your family for a much longer duration, you can purchase an appropriate housing property that fits in your budget and cater to your other requirements.