Buying or Renting a House: Which is Right for You?

The answer to what is better, buying or renting, is a very tough one. People have different views on what makes sense for them based on various factors like their families, their jobs, their financial standing and their personal desires.

Recommended Reading

Best Place to Invest in Noida (2025): Top Sectors Listed For High Returns

February 13, 2025

12336+ views

Best Place to Invest in Gurgaon: Real Estate Guide!

February 13, 2025

5962+ views

How To Check the Market Value in Andhra Pradesh?

February 12, 2025

64865+ views

How To Pick Your Flat Amenities in 2025

January 31, 2025

19897+ views

5 Simple Tips to Find the Perfect House

January 31, 2025

5561+ views

But, since we wanted to understand what most people are likely to do in 2024, buy or rent, we looked at data from the NoBroker Real estate report 2019. The report has insights that have been gathered from over 7 million NoBroker customers and a survey with over 12546 respondents.

Hyderabad

Out of the 6 cities that we collected data from, renters in Hyderabad were the keenest to buy homes. Here, 69% of renters were looking to buy homes this year (2024).

Get End-to-end Assistance in Buying a Property

Zero BrokerageDedicated Property ExpertLegal AssistanceHome Loan AssistanceInterior Consultation

Buyer Benefits Worth Rs.2 Lakh

Talk to Propety Experts

Complete Property Legal Assistance

Get Legal Assistance

Get up to 90% of Property Funding

Check Eligibility

Up to 25% Off on Home Interior

Get Free Consultation

Bangalore

Here, the enthusiasm to buy homes was not far behind as 65% of renters in the city were looking to buy their own homes.

Mumbai

Despite how expensive houses in Mumbai are, a whopping 59% of renters are looking to buy their own homes in Mumbai.

Pune

Renters in Pune too, want to move into or own their own homes. Here about 56% of renters are looking to buy a home in 2024.

Chennai

In Chennai, about 55% of renters are looking to buy a home. This is not too far behind compared to the other cities.

Overall, 64% of Tenants Are Looking to Buy Homes In 2024

This is great news for the real estate industry as it means there is a chance for unsold inventory to finally be taken off the market.

When compared to last year, there is a 10% increase in people looking to move from renting to owning a home. This could be due to the various steps that banks and the government has taken to make owning a house possible such as –

• Pradhan Mantri Awas Yojana (PMAY) and Credit Linked Subsidy Scheme (CLSS)
• The Maharashtra Housing and Area Development Authority Scheme (MHADA)
• Delhi Development Authority Housing Scheme (DDA)
• Nandamuri Taraka Rama Rao (NTR) Urban Housing Scheme
• Tamil Nadu Housing Board Scheme (TNHB)
• Real Estate Regulatory Authority (RERA)
• Standardised tax rates (GST)
• ‘Housing for All’ scheme (offers subsidised interest rates on home loans)

With so many policies and so many rate cuts, there is no time like the present to buy a home. In fact, 71% of renters see the home loan rate cuts as a positive change and are more likely to buy a house because if this.

If you need assistance with buying a home, then let the experts at NoBroker help. You will be able to find a house for any budget, of any size and in any locality of your choice. NoBroker makes house hunting simple, and convenient and helps you save lakhs on brokerage when you are buying a home. For more click below

Most Viewed Articles

Top 26 Cleanest City of India: List of the Best Cities Ranking Wise in 2025

March 17, 2025

160034+ views

Auspicious Dates and Good Nakshatra for Property Registration in 2025

May 21, 2025

117031+ views

How Mivan Construction Technology Is Transforming the Art of Building!

January 31, 2025

101537+ views

CIDCO Lottery 2025 - CIDCO Starts Registration for 5730 Homes in Navi Mumbai

April 30, 2025

83572+ views

Breaking Down House Construction Costs in India: Easy Tips for Your Budget" in better way

January 31, 2025

70668+ views