buying a property pros and cons | insta property

Buying a property is a long-term investment that offers you benefits that may last you for years and helps you settle down in a place or locality of your choice; it is a commitment for years that you choose to make. Investing in an Apartment / Flat: residential space or investing in an office and retail space: commercial property, which is more beneficial for a buyer?



Now let’s get into the pros and cons of both of these real estate transaction options starting with

Buying a property


Pros of buying a property

Cons of buying a property

1. Home for life: buying property enables you to permanently stay in a locality of your choice and enjoy the benefits it has to offer you.

1. Relocation issue: once you buy a property in one place you don’t have an option to relocate unless you rent a different property or buy a new one.

2. A great investment: buying a property makes it a great investment option as it enables you to create an asset for yourself that is not perishable and will last for a lifetime.

2. Property value: buying a property is a great addition to your assets, but there is no guarantee that your asset will yield profits. With an amount of uncertainty lurking, you never know when the value of your property might increase or decrease.

3. Options of home loans: nowadays there are numerous home loan options available that you can apply for to support you in your investment choices.

3. % of interest on loans: taking out a loan is a great option until you have to pay a % of interest rate on the loan you take over the course of several years and it can be a pain point sometimes if you aren’t able to pay off your loan on time.

4. Liquidating option: there is always an option of liquidating your property whenever needed, and getting a certain amount of money for encashing your asset.

4. Property values fluctuate: although there is an option for you to liquidate your asset and sell off your property whenever you want, it may not always yield a profit for you as the market value of a property has scope for dips and peaks.

5. Rental income: With the option of owning your property, you have the option of renting your property out for supplemental income. This way you get more out of your investment without putting much into it.

5. Wear and tear: renting out a property makes it prone to wear and tear over the years, especially when you can’t keep a constant check on how your tenants are maintaining your property.

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