Chennai city which had recently seen exceptional real estate growth in terms of the number of new apartment projects and the cost of the properties, one needs to decide which is better, whether to buy a property or rent one? a question which comes to every property seekers mind.

if you go for the option of buying a flat, You will be Increasing the value of your asset as your property will appreciate with time, you have the freedom and sense of pride of owning your own home, with no monthly rentals payments if you are not going for a loan with EMI, No freedom to relocate as you have to think a lot about relocating, one time registration charge and higher broker charges if any and also the maintenance charges.

Or if you go with the option of renting a flat, You have greater freedom in relocating to different place, if your job nature wants you to relocate frequently. Lesser maintenance charges, and the property is not yours, its your owner property, Your stay is in landlords control if they want you to vacate, You have no other say and the monthly rentals which you cant run away from.

If you plan to buy a house, some of your expenses will be,

Property Taxes and Special Assessments, Home/Hazard Insurance, Utilities, Maintenance, Membership Fee, It may pay for recreational facilities and other services (cable TV).

Be your own judge based on your financial ability now and in future for a period of 5 years, think twice and take the right decision to buy or rent a flat.

For properties in Chennai please check, www.myveedu.com/Buying-Renting-flat-Chennai-a-62.html