discuss What is the best decision: Renting or buying a house?

[Zani]

Both individuals and couples are always faced with the question of whether it is economically sound to buy a home or focus fully on renting one. When it comes to making this decision, mortgage opportunities, finances, and job prospects are always considered. Do you feel okay buying a house or prefer renting one?

 

[lens]

For now, due to my budget, renting is still a better option. I wouldn't have to worry about the maintenance cost plus the fact that I can easily move to a new location if I need to. Buying a house is a big commitment and it is something I'm not just ready for yet.

 

[Pete Griffin]

Renting is seldom the better option. I’m sure there’s the odd situation where it suits a lifestyle, but from a financial perspective owning is the way to go. Why pay someone else’s mortgage when you could pay your own?

 

[Shortie]

I have never felt comfortable buying a home or at least not yet and renting a home makes more sense for me, especially in the world we live in today.

In the world we live in now and the prices houses are, it makes sense for many to rent rather than buy their own home and it is guaranteed security as well without getting yourself into further issues with debts if you choose to take out a mortgage to pay for the home you buy.

I feel with the help some governments give to those on low incomes helps a lot when it comes to renting.

 

[Shawn]

Renting is a good option if you don't plan on staying put.

If you're young and you plan on being where you are temporarily until you move on, then rent. Don't buy something because it might make you want to stay later in life, and you could miss your opportunity to go somewhere else.

If you are where you want to be, don't pay for nothing, which is what renting is. Start buying a home to call your own.

 

[Pete Griffin]

don't pay for nothing, which is what renting is.

This is exactly the point I was making. I know that it is difficult to get on the housing ladder for some people. I know that some people are paying more in rent than they would pay for an equivalent property on a mortgage. And I know that some banks - and we all know banks are bastards - will refuse people on affordability scales when a mortgage would be cheaper than the rent they have paid without fail for years.

Rent if you like, but you're paying for someone else's investment. My kids will be supported to get on the housing ladder as quickly as they can.

 

[Shawn]

Rent if you like, but you're paying for someone else's investment. My kids will be supported to get on the housing ladder as quickly as they can.

Rent only if you don't plan to stay around that long but don't end up staying around and let all that rent money go to waste.

 

[Apsara]

If you are under 40, rent it and the use your money to make investments. If you are above 40 buy it so that you cane live a secured life in old age.

 

[Pete Griffin]

Or….

If you are employed buy so you can pay off your house faster and live rent/mortgage free in later life.

 

[Jason]

Make sure there is some written contract because I had someone unexpectantly sell a home that I was renting.

 

[Pete Griffin]

That's the other issue with renting. Good point by @Jason - if you own your house you own your home. If you don't, then always prepare to be evicted with very little notice. You could spend years making somewhere yours and then, poof, it's gone.

 

[Jason]

I'd like to own property out in the country, but I wouldn't want to buy a city property, because I like rural living, especially in the mountains.

Urban areas are good for employment, though.

 

[Fidelia1]

For me, nothing beats owning your own house. You are free to do anything in your house. When renting a house, you are restricted to the whims and caprices of the landlord. I desperately desire to own my house.

 

[Pete Griffin]

You are free to do anything in your house.

Except things like murder, but I do get your point.

 

[Jason]

For me, nothing beats owning your own house. You are free to do anything in your house. When renting a house, you are restricted to the whims and caprices of the landlord. I desperately desire to own my house.

It's not too bad to rent. You just gotta be very clean.

 

[Maina]

The best decision depends on your financial situation, long-term plans, and lifestyle. I prefer to rent

 

[Jason]

People who own homes (totally paid off)pay yearly taxes on them, and there's also home insurance. Is home insurance required?

 

[Yama]

Do you want a good return for your money? Do you want financial security? Well, in both case buying a house is better than renting a house. Even when you have a mortgage, you can use the same money that you would be using for paying rent to pay your mortgage. House is the most secured investment.

 

[ActionAce]

Well, I prefer buying a house but based on my financial situation, I am still living in a rented apartment. It gives you freedom and autonomous power but it doesn't give you all the flexibility you would normally get when you rent a house. In a nutshell, what I am saying is that your choices depend on your preferences and financial situation.