Topic: Buying Vs Renting a Home- Which is the right move? - page 3. (Read 845 times)

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.

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.

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.


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.

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.

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/

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.

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.

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.

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.

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 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.

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.

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. 

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.

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.

This matter basically depends on the person whether he buys or rents the house. If one buys a house he can undoubtedly own a fixed asset. Buying a home does not require a person to spend the same amount of money that they would have to spend on renting a home. If we consider it from the investment side ‍a person needs lots of money to buy a house. If he doesn't spend that money on a house instead of investing in bitcoins and spends some money on home improvements, he can buy another house in the next few years. The investment is suitable for those who have relatively less money.

When you do have some money being saved then if you are someone who is projecting some good goals and plans about being that successful person then you would be  thinking on trying to make those amounts to grow or simply would be finding some income flow or stream of profits on which you do know that it wont really be that a problem on the moment that you would be finding yourself on such condition
in speaking about stability or sustainance on speaking about income. On the moment that you had achieved such condition or state then you wont be able to find yourself having no problems and could be able to buy or build your own house without any financial problems just because you had already saved enough. This is why those people who do have those kind of plans will eventually be saving up that money and would be making use of those on investing or building up some business first or trying to make it roll.