Rent versus buying a home:
First time property buyers face the dilemma of whether it would be more prudent for them to buy property or continue living on rent. Indeed it is cheaper to rent a house for a lesser amount than the EMI. You could invest this difference between the rent you pay and the EMI, let it grow and later on buy a house. On the link below is a calculator that allows you to compare the two options and see which one is beneficial for you. https://www.ppfas.com/research/ereports/week/110711/rent-vs-buy-calculator.xls . For most young couples buying a house will always be the better of the two options even if it means paying EMIs over long periods of time. The benefits of owning your home are -You are investing in a growing asset -Your income will eventually increase and accommodate the EMIs far more easily than they appear to in the beginning of the loan period -Finding new apartments to rent every two to three years is time consuming .The inconvenience caused to family specially when there...