Why Owning Your Own Flat Makes Sense?

March 10, 2020
Why Owning Your Own Flat Makes Sense

Real estate in the island city is soon becoming a scarce commodity and finding a place that you can call your own may soon become a distant dream. With many individuals coming into the city on a daily basis and with dreams that can only be made a reality in Mumbai city, owning a flat in Mumbai now, makes more sense than ever before.

Ownership vs Rented:

While living in a rented apartment isn’t a bad thing, but when compared to living in a flat that is owned by you, the pros outweigh the cons. For one, an ownership flat gives you a sense of security, it also ensures that you are not on the whims and fancies of anyone, as in a rented flat, the flat owner can ask you to vacate the flat, by serving you an advance notice, which may or may not give you sufficient time to find alternate accommodation.

A high monthly rent:

When living in a rented apartment, arranging funds at the end of the month can be challenging and stressful, as you also need to handle the other expenses such as your power bill, etc. In a city like Mumbai, which has one of the highest real estate rates in the world, the monthly rent that flat owners demand can be exorbitant at times, and therefore, it only makes sense to look for a place you can call your own, by looking at flats in Vile Parle.

Membership Rights:

When living in a co-operate housing society, only the flat owner has voting rights in the building and the tenant has little to no say in the building. The tenant is completely dependent on the flat owner if he/she is facing issues in the building and usually, tenants are not entertained by the building’s managing committee. This should be another reason why one should seriously consider purchasing a flat, rather than living in a rented one.

While looking for flats in Vile Parle, one needs to take various factors into consideration and while it may sound like a tiring task, if one were to take the above-mentioned facts into consideration, it would only make sense to own a flat, rather than living in a rented one.