1. Factors that majorly influence a young earner to buy a home early nowadays are:-
a) the oft misplaced fear that he may not be able to afford a suitable home later as residential prices will always keep climbing,
b) a notion that interest rates on a home loan will also always keep on increasing,
c) the fact that both developers and lenders are better geared to push sales and loans faster to young earners,
d) thinking that renting out, even after buying, is good return on investment, besides long-term appreciation, and
e) the fact that joint family concept of living is waning for various reasons.
2. While buying a house does help in building an asset, it may not always make financial sense, and should therefore be decided dispassionately.
3. If both property price and rent are increasing every year, cost of renting will be higher from second year, so buying a house to reside in it can save money in the long run.
4. If property price remains flat for some time, while rent keeps rising, then renting a house is cheaper for most of the term.
5. If property price is reducing every year, while rent is rising, then too renting a house is cheaper for the entire term.
a) the oft misplaced fear that he may not be able to afford a suitable home later as residential prices will always keep climbing,
b) a notion that interest rates on a home loan will also always keep on increasing,
c) the fact that both developers and lenders are better geared to push sales and loans faster to young earners,
d) thinking that renting out, even after buying, is good return on investment, besides long-term appreciation, and
e) the fact that joint family concept of living is waning for various reasons.
2. While buying a house does help in building an asset, it may not always make financial sense, and should therefore be decided dispassionately.
3. If both property price and rent are increasing every year, cost of renting will be higher from second year, so buying a house to reside in it can save money in the long run.
4. If property price remains flat for some time, while rent keeps rising, then renting a house is cheaper for most of the term.
5. If property price is reducing every year, while rent is rising, then too renting a house is cheaper for the entire term.