Rent vs EMI: Pay EMIs or rent every month? Find out which will save you more money...

Renting offers initial relief because you don't need a down payment or a loan. However, rent increases every year, ultimately costing you lakhs of rupees, which don't build any wealth. Renting is cheaper in the short term, but it's a drain on your wallet in the long run.

The EMI may initially seem higher than rent, but with each installment, you're building your wealth. After a few years, that home becomes your capital. If the property's value appreciates, this investment becomes even more profitable. EMIs are today's expenses, tomorrow's earnings.

If you have a stable job and a steady income, paying EMIs makes more sense. However, if your job is uncertain, you have to move cities frequently, or your savings are low, the EMI burden can be overwhelming. In such situations, renting offers flexibility.

The tax benefits on home EMIs are a significant advantage. You can avail tax exemptions on both the interest and principal on home loans. Renting, on the other hand, doesn't offer such flexibility, but you don't have the hassle of selling or maintaining your home if you move cities or change jobs.

If you own a home, renting it out to pay EMIs can be a wise move. You can live in an affordable rental while protecting your investment. This way, you maintain your property and reduce your monthly expenses.

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