This blog will explain why you should buy an affordable home rather than renting. Owning a home is a never-ending desire for everyone, especially in India.
As famously quoted by Oprah Winfrey, “I will forever believe that buying a home is a great investment, whether for security or a sense of accomplishment. Why? Because you can’t live in a stock certificate. You can’t live in a mutual fund.”
It is not easy. It requires a significant investment of capital, financial stability, research, and many other things.
The Government however has bought into the Affordable Housing schemes.
The advantages of this strategy that you should know before deciding whether to buy an affordable home or rent a place are as follows:
Affordable home Buying better than rent: Secured investment
Having your own house is something that you will always treasure.
The government has already determined the rate, size, and duration of the project with the assistance of the Affordable Housing Policy.
As a result, the likelihood of any kind of fraud or discrepancies is reduced. Therefore, it is safe to invest in affordable homes under government schemes.
In contrast, if you are renting a place, you could have to vacate the premises now and then.
Home Loans for Affordable Home:
Recently, under the AHP, the bank loan is accessible for up to 90% of the entire sale price of the property.
This facility is only intended for the ownership of houses.
Stability when you own a home rather than Rent:
Living in a rented place can never give you stability as living in your own home.
When you rent a home, there is always the chance of being asked to leave, the owners are more concerned with the rent and raising the rent than with any maintenance expenditures that may be incurred by them, and there is always the unrealized desire to own a home.
Look out for affordable homes for sale, to find that stability in life.
Many Advantages of Home Loans in 2025:
The 2025 budget has positively impacted the middle class and lower middle class, facilitating their ability to purchase affordable homes.
In the government scheme, the reserving process involves the payment of 5% of the total sale price. Then, 20% of the total service fee (TSP) is due at the time of allotment issuance. The installments of 12.5% are paid after every sixth month, six months after the letter of allotment is issued. Consequently, there is no financial burden.
In conclusion, while renting offers flexibility, owning an affordable home provides significant long-term financial benefits and a sense of stability that surpasses any rental arrangement. With government initiatives like the Affordable Housing Policy and supportive loan options, homeownership is becoming increasingly accessible for many. By carefully evaluating your financial situation, exploring available options, and taking advantage of government schemes, you can make an informed decision and embark on your journey toward homeownership.
Looking for an affordable home on sale? Contact us!