Renting or owning a home?

Over the past decade, a lot has been debated on whether we should own assets, more specifically, a home or should we rent it out? In the recent past and in the wake of the Covid pandemic, opinions, analysis, emotions and data have changed to give a mixed response. Closer to home, in Kerala, over and above Covid, we had to go through floods of different magnitudes and incessant rainfall as well over the last few years. So let’s look at some of the driving factors that would help answer one of the most baffling questions.

Stability over Uncertainty

We as humans and the entire world are foraying into unprecedented times. Climate change and political unrest is a constant in our news feed. And in these unsettling times, it is of utmost importance that we have financial stability more than anything else. While fixed deposits help with the liquidity front of financial security, it’s important that we have assets that have an appreciation far greater than what a bank interest would give us. This is where owning an apartment would come into the picture.

An apartment when owned takes care of the aspect of investment in real estate. A good apartment from a reputable builder will always give better returns as an investment and guarantees you a shelter any time. Community living, security and other amenities come as added perks when buying an apartment. In this regard, you can trust one of the best construction companies in Trivandrum, Cordial Homes to build the dream home for you. Their recently launched project, Cordial Layam at Sasthamangalam, Trivandrum has 2 and 3 BHK format apartments in its plan and promises an elevated standard of living and value for money.

Long Term Benefits over Short Term

When it comes to choosing a place to stay, it all boils down to two choices: should we own the home that we are going to stay in or should I rent it out? While renting seems to be the easier choice amongst the two, it could be a short term strategy especially looking at the horizon of time that you will be spending in that city. This is considering that you would have decided to settle down there. Having said that, owning a home comes with its own financial stress but perks too. Let’s dig.

To buy a home of your choice, as you already would know, it’s not required that you pay the entire amount upfront. A down payment usually to the tune of 20-25% would suffice to secure your dream home. Bank loans come into the picture and help you finance the rest of the amount at nominal interest rates that can be paid up as EMI’s [Equated Monthly Instalments] across a period of time of your choice. Some of the best home builders in Trivandrum like Cordial Homes can also assist you with the bank loans and help strike a good deal that would meet your budget and income.

Unlike yesteryears where banks would sometimes double up as ‘loan sharks’, loan interest rates have dropped phenomenally such that it makes more financial sense to borrow money than to spend up all your hard earned saved money. Furthermore, you can save up on the taxes paid as well. Income tax claims under Section 24, Section 80 and Section 80 C all can be made at the same time and some repeatedly as well every financial year hence making it all the more financially viable to buy a home rather than rent one.

Expected value of land

In a promising city such as Trivandrum which has huge growth potential, the land prices are expected to shoot up exponentially over the next decade or more. The Vizhinjam port is expected to change the way the world perceives Kerala, more specifically, Trivandrum. It’s expected to bring more economy, jobs, manufacturing and other industries to this rather small yet vibrant capital city.

When the above mentioned is true and is a reality, one can expect that there will be a huge demand for housing and will thereby be the primary reason for the shoot in the price of real estate. Securing an apartment and adding it to your fixed assets investments will give its multifold returns in the long run. As mentioned earlier, while renting might seem like a viable option right now, rentals that are growing at 10% annually would eventually end up being more than the loan interest amount.

Cordial Layam which is situated at Sasthamangalam, Trivandrum is strategically located and in closeness to MG Road, Kowdiar etc and at the same time to places like Technopark and Lulu Mall as well. The project offers some of the best 2 and 3 BHK budget friendly apartments in Trivandrum with optimal layouts and affordable pricing.

Your choice, your rules

Finally but yet very importantly, a house is never really a home without hundred percent freedom. At a time and age when you have decided to settle down, you do not want someone [read landlord] breathing down your throat or overlooking your shoulder saying you cannot fix nails in this house or move the sofa to the other side of the hall. Taking permissions, following up on the plumbing leakages et al just soaks up all your energy.

What would have been better is a home that is fully owned by you and your family and get it customised to your liking and taste. Be it the paint or wallpaper you want for your walls or the kitchen cupboards, everything can be done up to your liking and satisfaction.

Consider Cordial Paradise, an apartment complex by Cordial Homes which is easily one of the top ten builders in Trivandrum. You can choose from the eight layouts that they have across 2BHK and 3BHK apartments. Interiors can be customised to your choice and Cordial Homes will happily accommodate all your needs. The choice is clear and it’s always to buy a home especially in the context of Trivandrum where you get great quality homes at really affordable rates and at the same time have huge potential to be multibagger assets in the long run. Let Cordial Homes be a partner in your apartment investment plans and growth. Book your visit now to Cordial Layam and secure your future.