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Why Buying a 3BHK+1+1 Floor in Mohali
05 Aug

By Balvinder Singh Kalra

Category: blog

Why Buying a 3BHK+1+1 Floor in Mohali is a Better Option than Renting One? No Comments

Why Buying a 3BHK+1+1 Floor in Mohali is a Better Option than Renting One?

Pertaining to the current situation, a lot of debates are currently going on regarding buying or renting a space. Most people advocate that renting allows living in your favourite place without any liabilities. On the contrary, homeowners cherish the independence of living in their own homes. Let’s have a look at why buying a 3BHK+1+1 in Mohali is a better option than renting one.

Liz Knueven expresses that though buying a home is a costly affair but it brings an emotional connection of stability that renting won’t bring. In her article published on Business Insider, she adds that owning a home not only means having an asset but an opportunity to live a debt-free life someday.

Buying a home is one of the biggest and most vital decisions that a person makes in his life. Apart from high-level planning, the decision to buy a 3BHK+1+1 in Mohali should be backed by financial viability as well as needs to be prudent. A single blip may lead you into financial distress and debt overload.

Check out the blunders you need to avoid before buying a 3BHK+1+1 in Mohali.

Have a look at some strong reasons that out past the pros of renting and make buying a flat in Mohali a perfect choice in the current scenario.

1.      Efforts By State and Central Government

With the introduction of PMAY and other central government initiatives to provide affordable housing to all, the home loan rates have been impacted significantly. The recent developments happening due to COVID-19, have further slashed the loan rates and made housing a lucrative and affordable option. Lower interest rates and subsidies by the central government have allowed more and more people to buy houses.

Apart from that, the real estate market in Mohali is significantly more affordable and luxurious than 3BHK flats in Chandigarh. This is the key reason for buying a 3BHK+1+1 builder floor in Mohali than to rent out.

2.      Office at Home

Coronavirus has deeply impacted the industries and has made the majority of the workforce to avail the work-from-home option. In such a scenario, having a separate rented office and home can double up the expenses.

With 3BHK+1+1 independent floor in Mohali, you get a separate room with an attached bathroom that can easily be converted into an office space. Or, you can also rent out that space for additional income.

Read More: 5 Essential Documents to Verify before Finalizing Your Ready-to-Move Flat in Mohali

3.      Emotional Connection

Investing in ready to move flats in Mohali strongly builds your emotional connection of stability. As there are no liabilities such as maintenance, repairs etc in a rented apartment, the tenants usually have no sense of attachment and care for the house.

A deep sense of responsibility, privacy and security prevails when you own a house. No stress and tensions of increasing rentals every year. Most of the landlords in Mohali prefer small-term tenants due to weak protection laws by the government of India. So, to avoid home hopping it is always better to stay in one place. It is easy to switch homes when you are a bachelor, but with families, you need a safe, secure and stable living.

4.      No Interference

Renting means living at the landlord’s terms. You can’t make any additional construction or live the way you like. Having your own home means no interference and complete freedom indeed!

Buying a builder floor in Mohali further simplifies the things as there is only one residential unit per floor, unlike apartments where you have multiple flats.

5.      More Stable Future Costs

The homebuyer is already aware of the EMI and home loans that are to be paid over a long duration. This makes his/her future costs more stable and predictable.

Buy a home or live on rent?

If you are young, in the early stage of your career and have long-term commitments to a particular city, it is indeed the right time to buy 3BHK+1+1 in Mohali. It may be a bit higher on your salaries and would sound difficult to manage. But, gradually as your salary increase, EMI would relatively a smaller portion of the salary as EMI will still remain the same. Adding to it, the property rates in Mohali would also have appreciated multi-folds over time. In fact, it would offer great returns even if you plan to sell/rent airport road Mohali flats.

3BHK+1+1 at [email protected] is one of the luxurious and premium housing range in heart of Mohali, sector 85. Located in the most elite and posh, Wave Estate, Canvas offers 3BHK flats in Mohali ready to move with an additional room and a capacious store. Book your 3bhk+1+1 independent floor in Canvas with an easy loan and other payment options.

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Feel free to drop your queries at [email protected] or call us directly at +91 97001 97007.

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Balvinder Singh Kalra

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