Should you buy a home or continue renting? It depends on your financial goals and lifestyle.
Buying
Pros
- Asset creation and capital appreciation.
- Sense of ownership and stability.
- Tax benefits on home loans.
Cons
- High initial down payment.
- Commitment to a location.
- Maintenance responsibilities.
Renting
Pros
- Flexibility to move.
- Lower monthly cash outflow compared to some EMIs.
- No maintenance headaches.
Cons
- No asset creation.
- Rent increases over time.
- No control over the property.
