Topic: Buying Vs Renting a Home- Which is the right move? - page 2. (Read 845 times)

it is absolutely true that even if a person has a job that requires him to travel a lot, at least he must have a permanent home where he can safely place his belongings or those of his family. because it will definitely be very complicated when he has to move his things again when he is in a different city every month, especially when he has children, his children need a permanent home which allows him to go to school or have friends for longer.

It depends on your needs, if you want to stay it's better to buy because the benefits are long-term, but if it's only temporary (for example because of work) renting is better because it's only temporary. in my area building a decent house costs around $20k (not including land) and if the rent is around $50 (depending on the condition of the house).

     There are only two types of people: those who are capable of buying a house and those who are not yet capable of buying a house. Of course, if you are capable, you have a stable income that can afford your own house, either through a housing loan or cash to buy your own house.

     There is a stable income, but it is not enough to pay cash for a house that can be called our own, so the failure is to rent a house, but it is used as a stepping stone to save to apply for a house loan for a few years, as long as you don't just be a spendthrift on things that are not that important.

There used to be a difference of opinion regarding owning a home and renting a home. In a simple calculation, a person living 65 years of age on average spends $50k paying rent, which is based on the minimum rent spending in my country. For the same amount, it is possible to construct a good home for a family. The difference is with the spending. During construction or owning, we spend as a whole or go for a loan and pay interest, whereas on renting, we'll just pay little by little. After the death of the father, other members of the family were able to use the home. In a family, if the family is depending on the father for the rent and something happens and they lose him, what will be the situation of the family members?

I don't have much idea how people from other countries consider owning a home. In my country, it is much more connected to emotions. The same makes them prioritize owning a home over seeing it as a form of investment. For that reason, more than 90% of the population prefers to own a home to rent one.

One of the first goals of many people is to find a job and then save money to become a homeowner. It can be difficult to realize this desire in times when economies are so bad and inflation is increasing day by day. Improving economic conditions and making savings is no longer as easy as it used to be. It's important to keep trying because the economy can change. Your economy, which is bad today, may be good tomorrow. What matters is the work you do to improve your economy.

The topic title asks what the right action is. The general answer to this question is to buy a house, but some people can use the money they will use to buy a house in different businesses and increase their income. It's partly about where we are and our plans.

On the moment that you would be buying your own house then it would be a one time big time payment specially if its cash purchased but that would only stop on there and next of that then you would be that free of monthly payment or wont really be having that responsibility on paying up something but we do know that not all people would be having that finances that they could afford their own house.
If you do then you are lucky or consider yourself on a good position because building one doesn't come cheap and only a few could be having that capability on doing so. We are all hoping and wanting on having our own home but there are really indeed instances that due to lack of funds or cant be able to afford then we would be ending up on renting out. Just like on what Fatunad said above that it will really be situational
basing up on what are the condition that you are into. If you do find that you could save up money on renting or really that near on your workplace then it would be common sense that you will be renting instead on making some commute specially if your home is really that too far. It would be impossible that you cant be able to assess yourself on what are the things that you should gonna do and stick out on where you could be able to save more.

I decided for myself that I would most of all like to have my own private house. Yes, it's expensive, but it's cool. It's your own plot, with a terrace, where you feel most comfortable. No one comes and dictates how you live. It's a thrill.

Both are dependent on ability. To buy a house, you need a large amount of money. Which is not possible for many. But if you can buy your own house, it is definitely better. Then a person has his own residence. Many people have income but do not have the opportunity to save.  Rent stays at home.  It's not bad either. But renting someone else's house is not so convenient. Here you will have to pay for everything.

Having your own house is indeed the dream of many people, because by having your own house we have a place to rest after a long day of work because if we have comfort in resting it will certainly make us enthusiastic about doing our work and of course this will give us the opportunity to earn income. that we can invest in, as you said by having a house that we can rent out and this will give us additional income too.
If you can't afford to buy or build a house, of course you have to be more active in looking for work that gives you a decent income and you can save to buy a house, because by renting a house of course we have to always prepare funds when the house we rent is ready. until it's time to pay.

I do not deny that whether to rent or buy a house will depend on each person such as the nature of the job and many other factors. But like I said , I don't think long-term renting is more economical than owning a house. Personally, I lived in a rented house for more than 10 years while working away from home and I found that with that 10 years' rent , I was able to own a small house in my hometown. But because the economic conditions at that time were quite difficult, I could not buy a house and had to rent a house . If at that time I have enough money to buy a house and return to my hometown after quitting my job , I will even make a large profit from that house by renting or selling that house . That's why I disagree when people say renting a house is more economical than owning a house.

It would really be something that will be depending into someones needs and preference because there are really people who are really that loving on having their own home and there are ones who do love to rent due to various reasons like the location of their job and something that do talks about practicality.It would really be just that depending on how well you would really be that making yourself that goes with your preference.
When it comes to savings then it would really be something that renting would be saving you up rather than on having that your own house. It would really be that situational and just like been said it would really be affected with several factors on which we know that this could really affect your decision making.

For me on which having your own house will definitely give out that kind of peace of mind and having that confidence since you are living on your own house which you wont really be needing to pay up some rent
but still you would really be needing to pay up those monthly amortization on which this is where people would be that skeptical on making up decisions because they dont really like for these things to be happening because they dont have the money or having not have the plans on paying up big for a long term amort on which i do really that seeing this stuff on where people do come into a point or consider
about speaking with practicality but of course it would really be still that depending on someones preference.

Home is an asset and most people would prefer to have their own home. It will disclose his identity and citizenship and can get a certain amount of house rent per month from the house if he has a spare room or apartment in addition to his residence.
I haven't built or bought a house yet because I haven't raised enough money to buy or build one. So financial consistency is a very important factor in deciding whether to buy or rent a home. Those who can buy a house must show interest in buying a house otherwise, they will be helpless and live in a rented house like me.

There is nothing bad in buying a house or renting it, doing both, your plan and purpose for doing such matters. At times, you may not have the money to get the kind of house you want to buy, in this case, surely, you will not sleep outside or do any magic, you will have to be patient for a while until you are financially stronger enough to buy a house. In some cases, it could be a situation of relocation where you can't immediately settle for the buying of the house, and of course, you will have to rent.

Again, there are some people who have bought or built houses at some disadvantaged location, they do not have a choice, and they might still opt to rent a house for the time being. If they calculate the proximity-caused issues like the convenience of getting to work, resources to be wasted due to and fro daily, and safety, they would surely resort to renting a house in most cases. So, the two are no big deal, as safety, purpose, plan and convenience are key here.

Even if your job requires you to travel a lot, at the end of your life you still need to rest, you cannot work until you die. Besides, what will happen to your family and children if you cannot own a house and move around all your life? Therefore, I think that owning a house always has advantages and advantages in the long run. People who use the excuse of having to move frequently for work are those who do not have a family and do not have enough money to own a real house.

Not to mention, even if you have to travel a lot for work, if you own a house, you can also rent it out to create a source of passive income. There are so many benefits for those who own homes and real estate.

IMO, if you have a lot of money to buy a house, then I recommend buying a house. This is because it is also an investment, and can be used for your future descendants. In fact, you can still sell it in the future at a possibly higher price. There are many advantages to owning a house, and you don't have to think about paying rent every month. This will be felt when you are old. If you can't afford to buy a house, then for now the only way is to rent a house. However, the worst thing about renting a house continuously is, when you don't have a job and can't pay the rent, then you have to leave the house.

The right steps and choices really depend on your own interests. I'm not at all interested in renting a house and tend to be more interested in building it myself from scratch. It doesn't take $500k to build a luxury house in my country, just $20k - $40k is enough to comfortably live in the long term.

Renting a house tends to be wise for anyone whose job forces them to move around. If they have a permanent job, then it may be wise to own their own home well that's with buying or building it from scratch. So in conclusion, I think everyone has their reasons for buying, renting or building their own house, it all really depends on interests, work or other things that are taken into consideration.

Everything really depends on our money, I think most people want to buy a house for reasons for their own future in old age and also for their family such as children or grandchildren and the problem for people who haven't bought a house is because they don't have enough money so they choose to rent.

To advance a business, maybe that's quite good, but to start a new business, I don't agree with that statement because it's full of risks, so there's the possibility of losing everything.
I think we can use all the money we have depending on the priorities we set and I think money to buy a house will be different from other money because it is included in the main priority in life.

For young people, this is good advice, but not for people who are older and have families.
A man is responsible for providing a place to stay for his family so for future it is better to buy a house even if it is small in size.

For convenience, of course buying a house is an option because we no longer need to set aside money to pay rent, but it also really depends on a person's financial capabilities. If it turns out that their income is not sufficient to buy, of course it is better to continue renting because buying through a bank loan is not a safe thing, because with the economic conditions in every country are as uncertain as today, we can lose our jobs at any time and end up not being able to pay bank installments, so you could lose the house and end up renting again, and actually there are many factors that we have to consider before deciding to buy or just rent.

Buying a house is better than renting a house if you want to live in a place permanently. Especially the people of the village they live there permanently for which they buy or build houses there. Moreover, I find renting a house inconvenient because if you rent a house, the monthly salary you have to pay to live in that house will not be the same every year, the rent will increase every year. Due to which you may face financial problems later.

Those who have enough money buy the house according to their choice because it will be their own so they are dependent on others i.e. they don't want to rent other's house. And those who are government employees change their place every few years for which they never want to buy a house they just want to renting the house.

Buying is the best move, renting isn't going to get you anywhere, I mean what happens to that apartment or house that you're renting when you're out of job or you don't have a job anymore or you're retired? Pretty sure that the landlord wouldn't really mind evicting you out of the apartment, it's probably for the same reason that you'd want to struggle with paying for your own house rather than renting because then you'd own something that yours and at the end of the day, you will be thankful that you did struggle because you will leave something behind for your kids if you've got any, what matters in terms of shelter is the permanence.