Once you get settled with your dream career option, the next important thing that will keep beating your head is to buy a home or rent? Since you are leaving outside for your job, this question is question is quite natural that whether you should invest on a home or should rent one. And deciding the right one is quite hectic as investing in this field is the biggest financial decision one can ever made in their life.

Applying for mortgage or rent?

Planning to buy a home is great investment planning hence along with deciding a right place of the home and other staffs related with a well being, there are also many facets that one can achieve.

Advantages of owning a home:

  • Since you have a plan to buy home, you also have other related plans that you need to apply for a mortgage for the financial backup. However, while you are paid off with the debts, your home will then be completely yours and by the time of your loan clearance the rate of the possession will turn up more costly than you actually paid for it to the lenders.
  • By the time of your loan tenure, if your home value gets increased then you can use the equity of your home to invest on any bigger project. Mainly do this in terms to form a property chain to enjoy in your retired age.
  • Once you get retired, you won’t have the resource of money to keep paying the rent, provided if you stay as tenant. Therefore, your buy a home and by the time of your employment if your clear your mortgage off then you can live as rent free.

Downside of owning a home:

  • Since you are lending money from a bank and that took a lump sum amount you are commenting something very big. Hence, you need to be sure whether you can carry forward those debts.
  • The interest rates of loan always keep floating up and so your repayment will rise up with it. Hence it is mandatory to ensure your limit of your repayment capability.
  • If you have taken mortgage in the name of others and spilt up, the process of clearing the loan could be more problematic.


If you just have stepped upon your career ladder and planning to make it stringent by investing on home, then it is the time to think cautiously all the positive and negative aforementioned points. Compare between these two facets then judge whether you should start searching homes on website of real estate or take rent.