Renting vs owning a home, this is one of the biggest financial decisions of your life. Is renting a complete waste of money? Is buying always a smart choice? Not necessarily. It all depends on YOU. Let's find out which decision is right for your goals, finance, lifestyle and accordingly we can make sure the best decision for you whether to buy or rent your dream home. 

Here is what Ashish Sharma CEO of LiveUp Solutions shares his view.

1. Lifestyle of renters and owners:

    

    

   • Renter’s: They have freedom to move whenever and wherever they want without any hassles of selling a home. Renters usually don’t pay maintenance costs. But leads to higher monthly payments. But they don’t have control over the home for any modifications or renovations as such so there is a limited stuff that can be done by a renter.
   • Homeowners stay in one place and have no plans of moving out soon than your average renter. They have more control of the modifications to their homes than do renters do so if your into decorations or renovations or any such modifications.

1. Finances:

• Renters: Monthly payments are often more for renters, but these payments rarely include additional expenses which associate with home ownership. It varies if there are any damages that the renter has done and has to pay accordingly to that.

• Homeowners: They have lower monthly payment but have to deal with responsibilities to maintain their home, so generally there are more maintenance costs and a owner has to be ready to face such situations where they are financially strong which will not affect their daily expenditure just by maintaining their homes.

1. Pros and cons:

Renting:

Owning:

Still confused on what to do? Here is a simplified solution based on different parameters in a format which will enable you to make better decision. Refer this table to make things easier.

To buy your dream home please visit www.liveupindia.com

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