A general idea among everyone is that buying a home is a good investment. A good investment is something that will get you more than what you paid for it. Housing is the biggest expense for the middle-class people in India. If you do not buy a house, most probably renting a house is the other option. So buying a house comes down to the following two questions: Will it fit for your lifestyle and make you happy or will it save your money over the other alternatives in a long time? Choose a house for your lifestyle so that you do not end up buying a bigger house than necessary which will make you spend more than you intended to.
If you plan to take loans for buying your house, check for the different interest rates available in the market and choose the best one. Also paying a reasonable down payment will be good while buying the house. Make all the necessary calculations because interest rate for the asset should not be a burden in the future. For example, one may want to buy an item of costly furniture so that it will serve for a long time. However, thinking of it as an investment is wrong. It is just a saving. The maintenance cost will be there for the new home such as gardening works, electrical works and we must spend some amount on fencing like pvc fence for protection where you can get it from leading chain link fence.
Buying a house is mostly considered a liability and not an asset. Because every month you have to pay for insurance, maintenance, property tax, interests for the loan you take etc., Even though you pay the full amount for the house, you will still be spending money on maintenance, tax etc., which will cause a dent in your pocket. If you are buying a property to rent it out, then it might be useful in the future. Because you get to pay the loans with the rent and the tenant will take care of the maintenance costs. In this way, you earn and reinvest or use it for any other bills or debts. There are a lot of reasons for a person to buy a home. If your priority is to earn more money, investing in the stock market would be the best idea.
Thinking about the future, retirement plans are mostly focused. Because no one can retire from a job with just having mortgages to pay. You have to create some source of income to replace the job income received. In this case, having a house to rent out will be a good source of income.
If you cannot decide between buying a house and renting a house, you can buy a house and rent a part of the house to your friend or some trusted person so that they will cover some expenses. If you happen to move out of town, you could always sell your house or rent it out to pay the bills. At the end of the day, make sure you make a good choice for the right reasons.