What makes more sense – Rent or Buy?

There is a simple way to judge whether you should buy a property or lease one now. When you find a house you like to live in, which is close to your office or conveniently accessible from there, then buy it. But remember that on your property, the Equated Monthly Instalments (EMI) should not exceed 40 per cent of your monthly salary. You’d be happier paying it back this way. As your personal contribution to the purchase you need 10-15 per cent of the cost, as banks do not lend 100 per cent.

Please think about buying if you are paying a monthly rent that would make up more than 75 percent of your EMI. (Check out the MB Buy Vs Sale Calculator that can act as a strong guide of whether to lease or purchase).