We all want to own a home, our dream home; your friends have it or have booked one. Buying a home entails a certain peace of mind. Bangalore city is turning out to be the hottest destinations for real estate investors and end users. As a city, it houses many multinationals and offers many job opportunities. It is a cosmopolitan city and offers good housing, recreation, hospitality, jobs and is also an educational hub. It is the silicon valley of India.
Bangalore is a good place for end users to invest in property. Bangalore is considered as a best place for living, and with a lot of NRIs investing, Bangalore market will not face any changes. Several renowned builders have launched their properties in Bangalore and are offering affordable to mid-segment to premium projects. It is better to buy outright than to rent in Bangalore.
Firstly, renting is not cheap anymore in Bangalore, landlords charge exorbitantly to whatever suits their fancies. With a lot of professionals on high salaries who are ready to pay a big rent, renting is becoming difficult. Some landlord demand ten months’ rent in advance along with deposits, so one lands up paying quite a chunk and at the end of the day the property is not yours but you will have to vacate it after your lease is over.
Secondly, Bangalore is witnessing a steady 13% annual price appreciation rate in the residential real estate sector since the past four years. Buying a property is a better option than renting one because you are assured of dividends in the future.
Thirdly, buying is a better option in Bangalore as you are sure that your property value will appreciate and more over a good investment. Using the market calculator with rents going up in a crazy manner you are not at a loss if you buy a property in Bangalore.
There are several other ways in which it is definitely a good idea to buy a home in Bangalore instead of renting one, such as:
It is a core end user market.
It has excellent climate and is a cosmopolitan city.
The city has a commercial and social infrastructure which establishes it as a ‘WORLD CITY’ with ample entertainment, hospitality and retail options
Owning a property gives you a very different feeling; you can do what you want with your home and are not answerable to anyone. Bangalore is the right place to invest in, renting has become difficult for various reasons, it seems that buying is much safer and a better option in Bangalore as you will stand out a winner at the end.
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