Should I rent or buy a house?

There is no single right answer; it depends on your finances, city and plans.

Buying makes sense if: you plan to stay in the same city for many years, have stable income, can afford a 20 percent down payment plus costs, and the EMI is comfortable (many advisers suggest under about 30 to 40 percent of take-home pay).

Renting makes sense if: you may move cities for work, are early in your career, or property prices in your area are very high compared with rents.

In many Indian cities, rent is much cheaper than an EMI for the same house, so renting and investing the difference can be financially smart. Owning a home, however, brings stability and peace of mind that many value highly.