Buying Vs. House Rent In Guwahati: What’s The Best In 2024?

Should I buy a house or instead invest in house rent in Guwahati? What will be more beneficial for me? Am I financially ready for either?

Well, asking ourselves these questions isn't out of place, especially at a time when real estate is growing rapidly in Guwahati. Builders in Guwahati are focusing on offering a comfortable yet luxurious experience to its residents. It is all the more reason to focus our attention on real estate.

And, if you are facing the dilemma of whether to buy a house or invest in house rent in Guwahati, you must look at the advantages and disadvantages each offer, before making the final call. Here's breaking it down for you:

Buying flats in Guwahati

There is a lot attached to the idea of buying a house. It provides a sense of stability and is one of the most valuable assets one can invest in. So, if you buy a house, you will not just invest in a place to live in but also in long-term financial security.

Advantages

Long-term investment: If you plan to buy flats in Guwahati against house rent in Guwahati, then there is scope for a long-term investment. Real estate in Guwahati is on the rise, and with key players like Uttarayan focusing on infrastructure development, it will continue to remain on the growth trajectory.

Opportunity to personalize: When you own a home, you have the freedom to design and modify it according to your preferences. One of the simplest differences between buying vs renting a house is the opportunity for customization. There is the freedom to modify according to taste, and what's more, this can be done as frequently and in as much detail as possible.

EMI instead of paying rent: To be honest, if you ask me, I would any day prefer to pay EMI instead of rent year after year. House rent in Guwahati isn't cheap, and every EMI we pay brings us closer to fully owning our home, unlike rent. Over time, your property will appreciate in value, turning into a valuable asset.

And if you are looking for luxury flats in Guwahati, that are budget-friendly and boasts of modern-day amenities, offering comfortable living, then check out Uttarayan's latest projects here.

Challenges

Initial costs are high: Yes, it is true that despite being a long-term investment opportunity, the initial costs of purchasing a home are high. Down payments and closing costs can be challenging, but preparing well in advance and keeping 30-40% of the total price ready beforehand can make a difference.

Maintenance and repairs: As homeowners, you would be responsible for ensuring timely maintenance and every kind of repair activity.

Choosing to opt for house rent in Guwahati

While buying a home is an appealing option, renting may better suit some people's lifestyles or financial situations.

Advantages

Flexibility: For people, who have to frequently relocate and are more comfortable with no long-term commitments when it comes to living, then renting offers the flexibility to move without the pressure of selling a property.

Low upfront costs: Anyone with a tighter budget can look forward to house rent in Guwahati as it requires less initial investment compared to buying. It only requires a security deposit and a few months' rent in advance as your guarantee.

Opportunity to explore: If you haven't decided yet where you wish to settle down in Guwahati, then renting can be a great opportunity before settling down permanently.

Challenges

Rising rental prices: House rent in Guwahati isn't getting cheaper by the day, and rent is expected to increase. This is a factor to keep in mind if you are juggling between whether to rent or buy flats in Guwahati.

Lack of asset building: With renting, there is no opportunity to build equity or gain ownership of a property. Plus, there is very little scope for making modifications to living style in case of any difficulties.

Luxury flats in Guwahati might sound expensive, but Uttarayan offers the best options at affordable prices.

What's the Best Choice in 2024?

The conflict between buying vs renting a house can be challenging, but ultimately, the decision should be a balance between your financial situation, lifestyle, and long-term plans. It must also align with your personal goals.

In Guwahati's evolving real estate market, buying a home offers long-term security and investment potential, while renting provides flexibility. So, whether buying a home or opting for house rent in Guwahati, remember that property prices are on the rise, and 2024 might be the perfect time to invest in a home.

Explore the latest properties from Uttarayan, one of the best builders in Guwahati, here.