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.
Topic: Buying Vs Renting a Home- Which is the right move? - page 3. (Read 815 times)
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.
Buying a home is the better action for the future because, even though renting a place seems cheaper, you are never assured that the rentage rates will remain the same over the years. The amount can actually increase from the original amount that you know to an amount that you may not be able to predict.
The benefits of buying a home are too numerous to count.
If you are staying long, you spend money once and never have to worry about keeping up with your rent; the money you spend will just be for maintenance or to add some more facilities to your home to make it more comfortable.
If you also do not have plans to stay long on the property, there is also the possibility of earning money by renting it out to other people for a certain amount of time. When you buy a home, you are also the owner of the land, and you can decide to pull down the structure.
The benefits of buying a home are too numerous to count.
If you are staying long, you spend money once and never have to worry about keeping up with your rent; the money you spend will just be for maintenance or to add some more facilities to your home to make it more comfortable.
If you also do not have plans to stay long on the property, there is also the possibility of earning money by renting it out to other people for a certain amount of time. When you buy a home, you are also the owner of the land, and you can decide to pull down the structure.
The decision starts from your financial status initially,renting can be cheaper than buying a new house or an apartment.However,the financial benefits of buying a house can also be a relief.For those that just got married recently,it very important to ask yourself questions before you take a final decision,because the decision between renting and buying depends on finances,your lifestyle and future plans.
Most of all,having/buying a home is Equally necessary especially when you're financially capable.Life becomes sweeter when you're able to meet up with certain lifestyles.From when you're single,getting married,and for those with young children putting down some of the risks that would be involved.
Renting is best for sub five years because of all the legal fees to take on a property and the debt that goes with it. Buying is best for 10 years or more if you are quite happy to stay in one place that long its the best to purchase gradually though not as cheap as it might appear to begin with its still cheaper then renting almost always.
Some of the best renting deals I got were including local taxes and water rates within the rent. Those are two of the largest bills a home owner will have to pay every year on top of the property cost and finance itself.
Also usually renting works where the area is not popular or you are able to provide a steady income to someone who doesn't want to worry about bad tenants. In some cases rent from private landlords can be cheaper if they feel secure in your circumstances being ideal for their house, a good track record etc.
Some of the best renting deals I got were including local taxes and water rates within the rent. Those are two of the largest bills a home owner will have to pay every year on top of the property cost and finance itself.
Also usually renting works where the area is not popular or you are able to provide a steady income to someone who doesn't want to worry about bad tenants. In some cases rent from private landlords can be cheaper if they feel secure in your circumstances being ideal for their house, a good track record etc.
Buying a house might be expensive but I think that no matter what, it will always be your best option, because with renting, you can always expect to get evicted out of nowhere especially if you've got a landlord that's stupid and a leech, you will never be able to rest easy because you're going to find that you will always need money to cover for it or you'll end up losing that house and you don't want that, renting a house is only good for the short-term so make sure that it's going to be that you're still saving your money to buy a house, pretty sure that there are housing loans in your country, that's a good way to jumpstart your home ownership.
Renting can be a good outlet to save you from huge expenses at the current, but if we are considering long term saving here, buying a home could be more advisable. You won’t imagine yourself renting a home forever, that’s even a waste of time and money, although not totally wasted since you also get to benefit the unit. But if you have the funds ready to buy, I don’t see any reason why you’ll turn it complicated. Buying a house is an asset, most especially if you plan it to be your source of sustainable income in the long run, or your retirement home. 
The right move in this case won't be the same for every individuals. It's all about your personal cronogram, objectives and perspectives. Renting isn't that bad considering a scenario where you are going to start an investment in Bitcoin meanwhile, right before a bull run starts. So with the profit made with your BTC investment, maybe you can acquire two houses instead of buying only one if you didn't decide to invest in Bitcoin.
What I would like to point, though, is that in most cases it will be always interesting to go for buying houses on long run, even if in the present moment it looks more interesting to rent one (for different reasons you might have in mind). By purchasing your own house, besides not being necessary to pay a monthly expense anymore (rent), you can also start making an income from it by renting your house to others, what means extra income.
What I would like to point, though, is that in most cases it will be always interesting to go for buying houses on long run, even if in the present moment it looks more interesting to rent one (for different reasons you might have in mind). By purchasing your own house, besides not being necessary to pay a monthly expense anymore (rent), you can also start making an income from it by renting your house to others, what means extra income.
Just renting might be much convenient. Although I would argue it could depend on how or what the housing situation is in your country. If it’s much cheaper to just rent and there is not much houses to build anyway then just rent. I think it’s also convenient in a way that when I want to move out, it would be a lot easier than having a whole house to my name and not being able to move out at any time I want to.
This is where the whole issue lies. It's not just about having money to build house or rent an apartment, the situation at a time plays an important role in your decision making in case like this. No one would be interested to be paying for a rent when they are capable to buy and own a house but the situation might force you to go for the renting instead of buying. Some jobs are the type that reshuffle their staffs often and as an employee, you can not be buying house in every place that you have been transferred to even if you have the money to buy one. In a situation like that, renting will definitely be your best choice in order to save cost. Buying a house if you have the measn can only be favorable when you are sure of your longevity in a particular place.
Maybe some people will save consistently to be able to get what they want. I myself would rather buy than rent, even though I have enough income to pay all the bills including the house rent if I rent a house, but I won't do it, because I think it's better to have a house that you really own. we alone. but indeed, for those who are more comfortable with renting, it is not a problem because it is their individual right.
It's not just about making a choice, it's all about having means to make a choice. Everyone will definitely go for buying if it's that easier. Paying bills is a must in whatever category you belong either as a house owner or a tenant so that should not be an issue. I don't think it is the wish of every tenant to continue paying for house rent but we should realize that not everyone is capable of buying a house. A two or three years rent money can not afford to buy a house.
Op, this comparison does not align in my opinion, it is suppose to be buying a house and building a house.
Just renting might be much convenient. Although I would argue it could depend on how or what the housing situation is in your country. If it’s much cheaper to just rent and there is not much houses to build anyway then just rent. I think it’s also convenient in a way that when I want to move out, it would be a lot easier than having a whole house to my name and not being able to move out at any time I want to.
Not only that, of course this also depends on each of our own perceptions, because I think there are people who think it is better to buy than rent and have to pay every month. because I think they must be unhappy with having payments that might be an additional burden for them, because every month they are guaranteed to pay their electricity and water bills, and there are people who have financial problems so they can't. pay the bill.Maybe some people will save consistently to be able to get what they want. I myself would rather buy than rent, even though I have enough income to pay all the bills including the house rent if I rent a house, but I won't do it, because I think it's better to have a house that you really own. we alone. but indeed, for those who are more comfortable with renting, it is not a problem because it is their individual right.
Usually it is really that pertaining about real propery tax on which this is something that needs to be paid annually which do really sucks but if we do tend to see the amount then it isnt really that much.
This is why i dont really believe much about it to be an excuse for you to avoid on getting a house due to this very reason on which we know that this isnt something that could break your bank or would really be
that a huge amount for you to avoid on getting one. When it comes to amount or comparing and being that practical then we can say that having that renting will really be saving you up for long term in compared when building your own house on which we know that it wont come cheap. I dont know on whats the mindset of some people on why they do make out such consideration on making up such decision
but well we do have our own decisions in life on which we do seem that it would really be giving out that advantage to us on which its a common approach or decision that we do need up.
Basically property tax is nothing if you compare it to the rent, and when you are renting you should compare the rent price to loan you would have to pay. In a world where you need to pay 1100 dollars per month for mortgage, and about 100 per month on tax, that means 1.2k, if you are paying 2k on rent right now, that means that getting the home is a lot better and would make more sense.This is why i dont really believe much about it to be an excuse for you to avoid on getting a house due to this very reason on which we know that this isnt something that could break your bank or would really be
that a huge amount for you to avoid on getting one. When it comes to amount or comparing and being that practical then we can say that having that renting will really be saving you up for long term in compared when building your own house on which we know that it wont come cheap. I dont know on whats the mindset of some people on why they do make out such consideration on making up such decision
but well we do have our own decisions in life on which we do seem that it would really be giving out that advantage to us on which its a common approach or decision that we do need up.
However, once again, that all depends on if you can't use the money on something else that would make you even more money, if you could make even more money then I would say use it for something else and get rich, however if this is the best way to use your money then I would say it still makes sense because you are saving and still have an asset to show.
Having your own house is like a long term investment because as the time goes by, the value of a land appreciates just like in gold, so if you're having enough fund to use for downpayment of the land then go, you can have a housing loan with small interest and offers small monthly ammortization, in that way, you will exert an effort to work hard or to find additional income so that you will be having a money for your monthly bills and your money goes to your own property.
Not necessarily. The price of house and land appreciates when there's an increasing demand. When the demand starts to decrease, the price would keep getting lower. The increase in demand till date has been due to the rapidly increasing population. As we move towards platue and eventual downfall, the price of land and house would start to decrease.
It can already be seen on countries that have a decreasing population. There recently have been a real estate crash in China. The price of land and house in Korea and japan are mostly on decrease with exception to a few cities. The same can be seen on most European nations. The price in large cities still holds while on smaller towns, they have started to decrease.
Europe
https://www.ft.com/content/fbdb5271-c35c-40cd-b301-eed9d7c6f57a
China
https://www.reuters.com/world/china/chinas-new-home-prices-decline-fastest-pace-since-2015-2024-04-16/
Usually it is really that pertaining about real propery tax on which this is something that needs to be paid annually which do really sucks but if we do tend to see the amount then it isnt really that much.
This is why i dont really believe much about it to be an excuse for you to avoid on getting a house due to this very reason on which we know that this isnt something that could break your bank or would really be
that a huge amount for you to avoid on getting one. When it comes to amount or comparing and being that practical then we can say that having that renting will really be saving you up for long term in compared when building your own house on which we know that it wont come cheap. I dont know on whats the mindset of some people on why they do make out such consideration on making up such decision
but well we do have our own decisions in life on which we do seem that it would really be giving out that advantage to us on which its a common approach or decision that we do need up.
Basically property tax is nothing if you compare it to the rent, and when you are renting you should compare the rent price to loan you would have to pay. In a world where you need to pay 1100 dollars per month for mortgage, and about 100 per month on tax, that means 1.2k, if you are paying 2k on rent right now, that means that getting the home is a lot better and would make more sense.This is why i dont really believe much about it to be an excuse for you to avoid on getting a house due to this very reason on which we know that this isnt something that could break your bank or would really be
that a huge amount for you to avoid on getting one. When it comes to amount or comparing and being that practical then we can say that having that renting will really be saving you up for long term in compared when building your own house on which we know that it wont come cheap. I dont know on whats the mindset of some people on why they do make out such consideration on making up such decision
but well we do have our own decisions in life on which we do seem that it would really be giving out that advantage to us on which its a common approach or decision that we do need up.
However, once again, that all depends on if you can't use the money on something else that would make you even more money, if you could make even more money then I would say use it for something else and get rich, however if this is the best way to use your money then I would say it still makes sense because you are saving and still have an asset to show.
Having your own house is like a long term investment because as the time goes by, the value of a land appreciates just like in gold, so if you're having enough fund to use for downpayment of the land then go, you can have a housing loan with small interest and offers small monthly ammortization, in that way, you will exert an effort to work hard or to find additional income so that you will be having a money for your monthly bills and your money goes to your own property.
Usually it is really that pertaining about real propery tax on which this is something that needs to be paid annually which do really sucks but if we do tend to see the amount then it isnt really that much.
This is why i dont really believe much about it to be an excuse for you to avoid on getting a house due to this very reason on which we know that this isnt something that could break your bank or would really be
that a huge amount for you to avoid on getting one. When it comes to amount or comparing and being that practical then we can say that having that renting will really be saving you up for long term in compared when building your own house on which we know that it wont come cheap. I dont know on whats the mindset of some people on why they do make out such consideration on making up such decision
but well we do have our own decisions in life on which we do seem that it would really be giving out that advantage to us on which its a common approach or decision that we do need up.
Basically property tax is nothing if you compare it to the rent, and when you are renting you should compare the rent price to loan you would have to pay. In a world where you need to pay 1100 dollars per month for mortgage, and about 100 per month on tax, that means 1.2k, if you are paying 2k on rent right now, that means that getting the home is a lot better and would make more sense.This is why i dont really believe much about it to be an excuse for you to avoid on getting a house due to this very reason on which we know that this isnt something that could break your bank or would really be
that a huge amount for you to avoid on getting one. When it comes to amount or comparing and being that practical then we can say that having that renting will really be saving you up for long term in compared when building your own house on which we know that it wont come cheap. I dont know on whats the mindset of some people on why they do make out such consideration on making up such decision
but well we do have our own decisions in life on which we do seem that it would really be giving out that advantage to us on which its a common approach or decision that we do need up.
However, once again, that all depends on if you can't use the money on something else that would make you even more money, if you could make even more money then I would say use it for something else and get rich, however if this is the best way to use your money then I would say it still makes sense because you are saving and still have an asset to show.
Just renting might be much convenient. Although I would argue it could depend on how or what the housing situation is in your country. If it’s much cheaper to just rent and there is not much houses to build anyway then just rent. I think it’s also convenient in a way that when I want to move out, it would be a lot easier than having a whole house to my name and not being able to move out at any time I want to.
In my opinion, in this case it really depends on a person's income, if they have sufficient sources of income of course they will prefer to buy it compared to renting it, because if we rent a house then every year we have to prepare costs. to rent a house, but if the life we live If we don't live in one place of course we have to choose to rent it, as you said, so that it is easier when we want to move and don't have to think about what will happen to the house we leave if we bought the house.Buying a house might be expensive but I think that no matter what, it will always be your best option, because with renting, you can always expect to get evicted out of nowhere especially if you've got a landlord that's stupid and a leech, you will never be able to rest easy because you're going to find that you will always need money to cover for it or you'll end up losing that house and you don't want that, renting a house is only good for the short-term so make sure that it's going to be that you're still saving your money to buy a house, pretty sure that there are housing loans in your country, that's a good way to jumpstart your home ownership.
If we are wrong in choosing the house we rent, of course we will feel what you say and it could be that the house we rent will increase the rental price because they don't want us to live in their house anymore and I agree. with you, if we rent a house in time to prepare ourselves so that we are ready to buy the house because if we continue to rent it it will certainly be very troublesome when we want to extend the lease, the home owner can increase the rental price if within reasonable limits it is not a problem, but if the price what is being offered is unreasonable, of course we have to look for another house that we can rent at a price according to the money we have.
Buying a house might be expensive but I think that no matter what, it will always be your best option, because with renting, you can always expect to get evicted out of nowhere especially if you've got a landlord that's stupid and a leech, you will never be able to rest easy because you're going to find that you will always need money to cover for it or you'll end up losing that house and you don't want that, renting a house is only good for the short-term so make sure that it's going to be that you're still saving your money to buy a house, pretty sure that there are housing loans in your country, that's a good way to jumpstart your home ownership.
Just renting might be much convenient. Although I would argue it could depend on how or what the housing situation is in your country. If it’s much cheaper to just rent and there is not much houses to build anyway then just rent. I think it’s also convenient in a way that when I want to move out, it would be a lot easier than having a whole house to my name and not being able to move out at any time I want to.
Not a financial advice but if you have the financial capability to buy or build yourself a house then this would be better. If the idea is to generate profit with a large amount of money, which is why others choose to rent, well price of a property continuously increases over the years. But if you don't have this stretch on your budget then of course renting would be a better alternative. Bottomline is long term and short term views. There are also rent to own properties which could be an option as well
But I do also like the idea of renting an apartment or house. If you're in an apartment, you could leave the house for a vacation and just advice the landlord to make you free of worries. Another is if you are having a bad neighborhood, you could just move to other rental properties. Lastly, since you will be having enough financial margin, you will have an edge to engage with investments and if it will be profitable, you could plan of purchasing a property of your own afterwards.
You’re right there. Renting could be the best option if you still don’t have the means to buy, or if you want to reserve your funds for other purposes like building a business or investment first and when it profits, buying a house will be one of your goals. However, not all investments come into flourish and progress that you might end up with a wrong investment and lose all your funds. The reason why some who have all the means to buy prioritized buying their own house first before they will try to engage in investments where risks are inevitable.But I do also like the idea of renting an apartment or house. If you're in an apartment, you could leave the house for a vacation and just advice the landlord to make you free of worries. Another is if you are having a bad neighborhood, you could just move to other rental properties. Lastly, since you will be having enough financial margin, you will have an edge to engage with investments and if it will be profitable, you could plan of purchasing a property of your own afterwards.
Not all people are capable of buying a house when they will use spot cash to pay it in full right away. Because many people, especially regular employees, are not capable of paying it in full, they go into housing loans held by government agencies in a program they hold, even in the private sector, where the interest is just too high.
That's why the others just save for a few years, then they look for a rental house that they can't afford to pay monthly. This usually happens in our country because if you go directly to the housing loan, there are too many requirements. then the strictness of the policy and rules. So most have no choice but to rent anyway.
Not a financial advice but if you have the financial capability to buy or build yourself a house then this would be better. If the idea is to generate profit with a large amount of money, which is why others choose to rent, well price of a property continuously increases over the years. But if you don't have this stretch on your budget then of course renting would be a better alternative. Bottomline is long term and short term views. There are also rent to own properties which could be an option as well
But I do also like the idea of renting an apartment or house. If you're in an apartment, you could leave the house for a vacation and just advice the landlord to make you free of worries. Another is if you are having a bad neighborhood, you could just move to other rental properties. Lastly, since you will be having enough financial margin, you will have an edge to engage with investments and if it will be profitable, you could plan of purchasing a property of your own afterwards.
You’re right there. Renting could be the best option if you still don’t have the means to buy, or if you want to reserve your funds for other purposes like building a business or investment first and when it profits, buying a house will be one of your goals. However, not all investments come into flourish and progress that you might end up with a wrong investment and lose all your funds. The reason why some who have all the means to buy prioritized buying their own house first before they will try to engage in investments where risks are inevitable. But I do also like the idea of renting an apartment or house. If you're in an apartment, you could leave the house for a vacation and just advice the landlord to make you free of worries. Another is if you are having a bad neighborhood, you could just move to other rental properties. Lastly, since you will be having enough financial margin, you will have an edge to engage with investments and if it will be profitable, you could plan of purchasing a property of your own afterwards.
Buying and renting a home involves many considerations, including your current location, social amenities, family status, job, and many more.
When we are talking about location, it depends on the country that you are in because in some countries, you, as the owner of a house, most likely pay a tax to the government, while in other countries, it doesn’t work like that. So, if you are in the country where, as the owner, you most likely pay a tax, renting a house will be better because you won’t pay that tax, and it will save you a lot of money.
I know many will be wondering why I brought social amenities. Yes, that is also included because if you are buying a house, that definitely means you are reliable to stay there for a long period of time, which is why the social amenities that are available within that location should be considered when buying, but when renting, you don’t need to consider that much because you can leave any time you wish to.
Family status is simple: are you a parent or not? Because if you are a parent, leaving a rented apartment is not always recommended because you can leave at any time, and frequent changes in the environment for the children can make him adopt many behaviours and lifestyles that might affect him positively or negatively.
When we are talking about location, it depends on the country that you are in because in some countries, you, as the owner of a house, most likely pay a tax to the government, while in other countries, it doesn’t work like that. So, if you are in the country where, as the owner, you most likely pay a tax, renting a house will be better because you won’t pay that tax, and it will save you a lot of money.
I know many will be wondering why I brought social amenities. Yes, that is also included because if you are buying a house, that definitely means you are reliable to stay there for a long period of time, which is why the social amenities that are available within that location should be considered when buying, but when renting, you don’t need to consider that much because you can leave any time you wish to.
Family status is simple: are you a parent or not? Because if you are a parent, leaving a rented apartment is not always recommended because you can leave at any time, and frequent changes in the environment for the children can make him adopt many behaviours and lifestyles that might affect him positively or negatively.
it really matters when you plan of how long you are going to stay in a certain place. if you have a kid and you give importance to his childhood friends and that he could have a life long friends, i guess buying would be better for he can have a place to call a home town.
if you are just in the place where you are called because you have a job. i think its best to just let your kids visit from time to time and just rent a place when you know you won't be staying for a long time.
That's right, the best moment to buy a house is when you really have decided to live long term in an area, if not then renting is the only wise way, I'm currently still renting a house, because it's still a small family that belongs to me, I had a long discussion with my partner and we both agreed to buy a house when we had decided to stay long term in an area and our children were adults, so that when they went abroad, we didn't feel burdened, the point is, don't force yourself to buy a house when the money you have can only afford renting at the moment.
This topic has come up quite a few times over the years on this board. A lot of the discussion around it has mostly been others opinions. I found this neat little graph online (instagram) from the New York Times that compares the two. Now keep in mind one's location will certainly have an effect on which one might make more sense, even in what part of you own country you're in.
Of course, it will depend on several things that influence someone to decide or decide to buy a house or rent a home temporarily.1. Money
Money is the main reason why someone decides to buy or rent a house, if they have enough money and it meets the criteria for the house they want, it would be better for me to buy a house immediately, because the further you get here, the more the property price will rise. However, if you don't have enough money, it can't be helped, renting a house might be an option. There are indeed ways to buy a house using a credit system or a loan from a bank, but not everyone wants to do it or not everyone can do it and is approved to do it for several reasons.
2. Period of residence in the current area of residence
So, the period for how long you will occupy your current domicile will also have an influence. If it's possible that it won't take long, it's better to rent a house first rather than having to bother taking care of other things to buy a house in another place.
Personally, buying a house is actually one of my main targets besides a vehicle because it is for the benefit of the family. If you have settled down, the money is ready, and there is a house that is really suitable and the environment is suitable for us, then that will be my reason to buy it immediately.
Nobody wants to live on rent but most of the people cannot afford to buy their own homes that's why the only way to live is to accept houses on rent. Buying a home requires more money at once while renting requires a minimum amount on a monthly basis although the amount needed for rent is more if we compared it with buying a house because we live on a rent until we buy our own house but accumulated money is not present with every person to bear the burden of buying a house.
It is all about the affordability that we will live on that source which we can easily afford. In previous age people were living together but now every single individual wants to live an independent life in another house so a single family needs lots of space to live a satisfied life and the whole family cannot live together in present age so they will mist choose a renting house for spending their life.
It is all about the affordability that we will live on that source which we can easily afford. In previous age people were living together but now every single individual wants to live an independent life in another house so a single family needs lots of space to live a satisfied life and the whole family cannot live together in present age so they will mist choose a renting house for spending their life.
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