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Rent or Buy House?

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Nov 28, 2019
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Life can be pretty unsettling latley with corona and other stuff. So you can see that renting is a bit difficult these days. And so buying the house is one decision that I have not taken. So I am thinking about such option between the two.

What is your approach in such case? Which one would you choose?
 
I think every area is different (think LCOL area vs. HCOL), but ultimately it depends on peoples situation. Renting is easier and smarter for some. For most though, buying is the smarter long-term game. Eventually, the house will be paid off. The mortgage should stay mostly the same as inflation rises. Mortgages are also cheaper per month (most cases, see comment above about HCOL areas).

The biggest benefit? Equity. When I sell my current house, I'll walk away with $200k to put to the next house.
 
For me i have rented for many years making landlords money, so several years ago we decided it was time to invest in something that would give us return, was the best decision we have ever made and should have done it sooner.
 
I am looking to buy currently but this market as been crazy and we've put in over 5 offers and have lost every single time.. It's not fun right now, we are currently renting.
 
I am living in Government offered house and it is very small, but for my financial issues have to stay in that. I tried long back to buy a plot, but this gone a problem and left it due to non developed area.
I am currently looking to buy with plot, but the prices are sky rocketed here, however year they would rise double.
 
You may try to buy a house if you want, but I would suggest starting a business. This is because when you have insufficient amount of capital, then how will you deal with daily expenses after buying the house? You can rent a house right now and start business to bear your expenses.
 
Rent or buy a house. It's not okay feeding, clothing and shelter are very significant in a humans life. There was a big man that I know, he works in a multinational company ,he rented a duplex worth 2.5millions per annum. He has been in that house for more than 15yrs after landlord needed some huge amount for a project and he was asked to quit with notice. Latter he knew house is for sale, that was when he requested for a loan at his working place before he could afford to buy it. Having a house saves money while renting incure more money.
 
It depends on your financial capabilities, buying a house is alot more better than renting one, as you would not have to worry about paying of rent in the future and you can use it for whatever purpose you want but it would definitely cost more than when you rent a house.
 
In my opinion, if you are financially stable, i would recommend buying a house for you. Once you buy a house, you will have peace of mind because you won't ever think of paying rent.
 
We rented an apartment for 2 years then we moved to a rented house for 5 years before we had the opportunity to be granted a housing loan by the bank. The monthly installment is almost double the amount of our rent so we had to cut down on expenses. After 2 years our finances got back to normal.
 
If I have the money I am going to buy a house. the house I am going to buy more stuff for the apartment which I can rent out to make more money. Renting a house is a liability and it is one of the ways to drain your pocket faster.
 
I would suggest buying a house or building whichever suits you because renting would mean that you would still have to be paying rent dues and other expenses.
 
For me I would say buying a house would always be the better option unless there's the case of war where such investment are prone to destruction other than that buying a home is more efficient than renting one
 
To my opinion, buying of house will be the most wisest decision a person will ever take rather than renting a house. Renting some of the apartments most especially in some areas are very much expensive if compare to buying house it will be better.
 
It may depend on the country where you live and its tax laws. In my former country, for ex., it's better to rent rather than buy, when it comes for apartments (a house would cost approximately between 500.000 euros and various millions of euros). As apartments come with too many incidental expenses, sometimes the owners find themselves in a curious situation, where they must pay amounts as they were paying a rent, in addition to the mortgage expenses. Tenants don't pay ancillary and various incidental expenses, so they often get benefits from the rent.
 
Renting or building of a property is depending on the capacity of the person. The reason of renting is the ability of having a anough financial capacity. I prefer to buy a house that to rent if I have the opportunity of buying.
 
It all depends on a person's financial ability. You surely can't tell a person with little money to purchase a house. Just do what you can do, paying rent does not mean you are an underachiever. Just don't be stagnant.
 
If I am bringing enough financially I am going to buy house outright. There is no point in renting when I have the capability to buy it out. but I see some people being mistake over here spending a lot of house rent when it can easily acquire one for themselves.
 
Most definitely, I will prefer to buy the house to renting it. Buying It save me lots of expenses and I have automatically bought comfort for myself. The landlord could be tiresome sometimes.
 

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