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Rent?

Buying with FabX is cheaper than renting. Here’s how -

Statistics reveal that tenants in Mumbai live an average of 2 years in the same house (even if they didn’t plan to). Minimum rent agreement is for 11 months. Below is the comparison between renting & buying for a 1 BHK apartment for 1 year.

 

Cost calculated for furniture package which includes
sofa set, centre table, chest of drawers, Solid wood Queen Size bed, 6*5 feet mattress, double door wardrobe

1 BHK

Rent* Refurbished
Condition Refurbished Refurbished
Actual price ₹60,000 ₹60,000
Tenure 6 months 12 months Lifetime
Rent / EMI ₹5,200 ₹5,200 ₹5,600
Deposit ₹5,200 ₹5,200 N.A.
Net upfront payment ₹10,400 ₹10,400 ₹5,600 (with EMI)
Tenure cost 5,200*6 + 5200 = ₹36,400 5,200*12 + 5200 = ₹67,600 ₹60,000
Deposit / Buyback ₹5,200 ₹5,200 ₹24,000 (40%)
Total Cost ₹31,200 ₹62,400 ₹36,000 (₹43,000 with EMI)
Ownership option

*Source: Rental packages from well known online portals.

Don’t be - "penny wise, pound foolish". Don’t rent.

 

Buy refurbished and resell.