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Why owning a house in Chennai is better option than renting a house

Looking for a house or apartment in Chennai? In this article, we explain why it is considered the best option to buy an apartment over renting a house. Chennai is witnessed as one of the best cities in India to buy an apartment in Chennai due to its huge population, raise in capital investment and especially the growth in employment sectors. Everyone’s idea of dream home may differ based on their budget and need.

Cons of Rental house

Most of the people moving to Chennai because for their career growth or employment. Changing from the renter to house owner is a little bit difficult one in terms of financially as well as emotionally. There is a number of new projects in Chennai launched in recent years which increases the interest among the people who want to buy a dream house. Here are the factors you have to consider before making a decision of buying or owning a house.

Got Cash

In the popular areas of Chennai, the price of 2 bedroom apartments is 48 Lakhs. However, if you stay in a rental house the amount which you pay as rent is not less than 20,000. Every year the rental amount should be increased by 5%. You have to keep all those in mind before owning a house.

People think that buying an apartment is an expensive thing. But the fact is you can get 80- 90% home loan by the lending institutions. You can simply arrange 10 to 20% amount to make a down payment. Apartments in OMR are the best option to invest in Chennai property.

Other Expenses

When buying an apartment in Chennai you need to know about the other expenses like property tax, maintenance cost and insurance. Make sure you know that, you have sufficient money to manage all those expenses?

Mobility

When you think about buying an apartment in Chennai you have to look for the mobility. You can easily move to a different place even your office location changes. You can also do area analysis before buying a flat or residential property in Chennai. You can choose the best builders in Chennai to make your dream comes reality.

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