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16 April 2012

New Approach Towards Buying Homes- Rented Living

There was a time when people used to dream of owning a home. This was the biggest and first dream every newly married couple would have, that is to have a roof over your head. Be it a one room kitchen, a two room kitchen or a two bedroom hall kitchen or a bigger flat, everyone just had to have a home of own.
Thane city ahs shown tremendous progress in terms of house constructions and with villas to duplex apartments , there is place for all luxury living here. But I have seen a change, a change for better coming up now as the rates of houses are increasing the new thought coming up is, is it worth purchasing a home?
The west has been showing constant change in values and progress financially and as we all know buying a flat in the States or any foreign country is so expensive people prefer staying on rent. There are so many advantages in this as they save on the commitment of a home loan and since the pressure of repayment is not there they can enjoy their income and save accordingly. And as the situation changes they can shift to another locality. Even in Mumbai the same trend is going on and as homes have become unaffordable and buying a home on home loan is becoming more and more of a dream unreachable.
Let us try to understand this new concept in home living. Since homes cost more than a crore and your life's most precious years go in the tied down feeling when you are bound with the repayment of a huge home loan, people are trying this new age mantra. The sum amount of a crore is too big and when you invest this sum you are assured of some income every month when invested in a good financial institution. A good financial consultant or financial planner can help you to plan your life according to the finances available. Since the future is unpredictable people are getting scared to commit for say 15 to 20 years ahead with a home loan.
The policies are changing and the rules for lending and borrowing are changing constantly and it is always understood that borrowers are always at the receiving end for any changes and they have to shell out the extra money to balance any changes in rules on loans.
So now people are accepting the way of living of the west. The culture of living in rented apartments is the latest trend going on and as many upper end companies offer good home rent it is also very easy and convenient. You save your precious finances that come into your home every month in form of monthly income and also an important part is that there is no burden of a  home loan   that  is hanging constantly over your head!
New Era in Home Living
With house rent been offered in 20 to 25 thousand rupees or more according to your post in the company people are free to choose the best locality near their work place offering posh luxury homes with fully furnished and having latest amenities on rent. Living in rented houses is no longer a taboo subject and people have accepted this new trend of living in a rented home.
It does work out fine if you are not attached with the dream of owing a home. You save every month the amount that would go into your home loan and invest this amount in a fruitful venture or investment option. Paying an EMI every month that comes to 50,000 or more Rupees for a small flat and that too for many years is just not practical now adays. With the tsunamis and earth quakes pondering every now and then the future has become unpredictable ,so just enjoy! when your home owner increases rent move on!

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