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Sites or Apartment for Buying by codingdefined

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· @codingdefined ·
$14.61
Sites or Apartment for Buying
You will see a lot of people are debating between renting or buying a house. For me too renting seems lucrative but again I do not deny a fact that you should have atleast 1 own house. Because what I have seen is that own house gives you that safety net where you can actually go and stay without worrying about anything.

![image.png](https://i.imgur.com/QYuS8oX.jpg)
PC: Pixabay.com

For example, a lot of people in bangalore comes for working. But whenever they get chance they go to their hometown because they have their house in their hometown. Similarly a lot of people cannot afford the house in the metro cities and thaus for their first house they buy it in tier 1 or tier 2 cities.

But let's say you want to stay in the metro city. What options do you have. Either rent out a flat or Buy it. Renting is easy but it has its own sort of problem. The rents in Bangalore are increasing like anything where in percentage it has increased by 50% in last 2 years. Another set of problem is that, owner can kick you out at any point of time after initial 11 months. So you have to start the search again. Whereas if you are buying it, you have to pay hefty loan and also you are stuck in one location and had to travel if your job location changes.

Now if you have overcome the above problem and thinking of buying, what options do you have. Buy a site/plot and construct a house or buy an apartment. Most of the people in Bangalore goes for buying an apartment. Because it is easy to get 90 to 95% loan on flats, you have a lot of amenities like Gym, Swimming Pool, Play area and what not. Along with that you have 100s of other like minded people. Apartment comes with it's own problem. Apartment seems to be a asset but after certain time the value doesn't appreciate much. You have to pay  maintaiance and that is somewhat ok. You cannot do much in your apartment if you like to party or other things, because there will be someone complaining about it.

Whereas site/plot value always appreciate. You can build a house and give some portion for rent too. The life of a house constructed depends on how you have built it. The problem is that site is scarce and thus you have to search for a site in outskirts of the city.

So yeah every thing comes with pros and cons and it depends on the people, that which pros they  like and which cons they can ignore.

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