What will you prefer; bought a house on Monthly installment or rent a house?

[Abbas007]

The overall cost of homeownership tends to be higher than the overall cost of renting. That is true even if the monthly mortgage payment is similar to (or lower than) the monthly rent. Here are some expenses you'll be spending money on as a homeowner that you don't have to pay as a renter: Property taxes.
Renting does not overburden one with EMI payments, house tax and other legal issues that are part and parcel ...
So what will you prefer for living renting a house or buy a house on MI?

I think if you are earning well or are involved in good business then you should buy your own house then if you like it better in cash or installments but you have to leave the rented house eventually if five years If you are leaving later, estimate how much you will have paid in terms of area.

 

[eojo2401]

I would have bought house on monthly installment than pay high rent rate here in my place of residence but there's no provision for such here. Buying house in installments is a good thing and I will keep on looking for such opportunity.

 

[idhans]

The overall cost of homeownership tends to be higher than the overall cost of renting. That is true even if the monthly mortgage payment is similar to (or lower than) the monthly rent. Here are some expenses you'll be spending money on as a homeowner that you don't have to pay as a renter: Property taxes.
Renting does not overburden one with EMI payments, house tax and other legal issues that are part and parcel ...
So what will you prefer for living renting a house or buy a house on MI?

it is much cheaper to own a house in Nigeria because nobody will tax you for owning a home. It also depends on your level of income. Low income earners would prefer to rent an apartment instead of buying a home.

Post automatically merged: Feb 5, 2021

The overall cost of homeownership tends to be higher than the overall cost of renting. That is true even if the monthly mortgage payment is similar to (or lower than) the monthly rent. Here are some expenses you'll be spending money on as a homeowner that you don't have to pay as a renter: Property taxes.
Renting does not overburden one with EMI payments, house tax and other legal issues that are part and parcel ...
So what will you prefer for living renting a house or buy a house on MI?

it is much cheaper to own a house in Nigeria because nobody will tax you for owning a home. It also depends on your level of income. Low income earners would prefer to rent an apartment instead of buying a home.

 

[Bkoks]

If my income is very steady and I fell in some couple of years, there will be no set back, then I can buy a house through installmental payment. Then I have to look at the quality of the house, if it worth installmental payment or I go build my house. I think it's better than living in some ones houses provided all the risks are taken care of .

Post automatically merged: Feb 5, 2021

If my income is very steady and I fell in some couple of years, there will be no set back, then I can buy a house through installmental payment. Then I have to look at the quality of the house, if it worth installmental payment or I go build my house. I think it's better than living in some ones houses provided all the risks are taken care of .

 

[Ryeetar]

I would prefer buying a house, because renting means you not the owner of the house so as such the owner can decide to send you packing anytime even after signing an agreement. Paying installmentally could mean you have to pay for years as long you both agreed in with the owner. Also the house ends up becoming your own or you can even decide to sell it out unlike renting.

 

[Diamond07]

I think I'll prefer to own a house on monthly installment then rent a house because at the end of the day, i know if already belongs to me. Though might be more expensive but it's still a wise choice

 

[Debola]

The overall cost of homeownership tends to be higher than the overall cost of renting. That is true even if the monthly mortgage payment is similar to (or lower than) the monthly rent. Here are some expenses you'll be spending money on as a homeowner that you don't have to pay as a renter: Property taxes.
Renting does not overburden one with EMI payments, house tax and other legal issues that are part and parcel ...
So what will you prefer for living renting a house or buy a house on MI?

Renting: You pay less up front. ... Owning: Most mortgages require a down payment, and you generally get better terms with more money down. You may also need to pay closing costs. You can usually customize or update your home with renovations (some of which may boost your home's value).

 

[Ifective]

As long as you have a place to rest your head, buyinh a house and paying in installments monthly is a great idea. Renting a house might seem cheap in the short run but it isn't in the long run. Renting a house for 10 years might be equal to buying a house. It means you will keep living in the house for free if you decide to purchase the house instead

 

[Erik4150]

The choice all comes down to the financial strength of the individual. Some people want to own a house and are willing to pay installments to get their dream house. I also like paying by installments.
But when there is not enough money, I could rent a house.

 

[Kamon c4]

This decision depends solely on my income. Though I prefer mortgaging a house in every possible way. This is similar to renting a house but you get to own the house fully after you’ve completed payment for the property.

 

[sam386150]

Buying a house and paid installmentally is the best, because most of the people who lives in rented apartment knows that it is not an easy task to cooperate with landlord demanding.

 

[Gilead]

A rational business person or just a person per se will most definitely prefer to buy a house on an installmental payment scheme than to rent a house on a rental basis. It's an investment that benefits a rational person that he or she pursues .

 

[Bart Simpson]

Renting a room would not make it because I regard the house as my own. I would rather to buy the house on the installment by paying it in monthly installments. This will cause the person to be in pain at first because the money should be used for another reason. Despite my anger, it would later be worth it, because you would have inherited the home. I like making small payments over a longer period of time.

 

[Shahzaib37]

The overall cost of homeownership tends to be higher than the overall cost of renting. That is true even if the monthly mortgage payment is similar to (or lower than) the monthly rent. Here are some expenses you'll be spending money on as a homeowner that you don't have to pay as a renter: Property taxes.
Renting does not overburden one with EMI payments, house tax and other legal issues that are part and parcel ...
So what will you prefer for living renting a house or buy a house on MI?

It is totally depends upon money if i have money a want to buy a house.
Second if i am a worker i want to use instalment method this is also easily to by a house.

 

[Caali]

None of the above because the two choices is so hard...you always pay for your sleeping...having a own house is good,.you don't worry for the monthly payments

 

[shakky2]

between the two options it is better to rent a house on monthly installment than renting a house if you have a reliable source of income where you can always deduct the monthly payment.the house automatically becomes yours when you are done paying the money and this is an advantage for yourself

 

[Taiwoayan]

I will prefer buying the house with monthly installment payments

 

[Michaellee]

I'd rather rent a house than buying and paying in instalments . renting a house, one would know the particular amount he or she will pay the the house power yearly, buy if one intend to buy and started paying little by little , what if some went wrong later in the years ,the one of the house would claim is property back bcos it still belongs to him .

 

[Ralphjoe]

I would prefer to buy a house and pay on a monthly or instrumental basis for the house than renting a house because buying a house I'm paying monthly instrumental will lead to my taking ownership of the house after paying for the house through the instrumental method while renting a house will never make the house mine.

 

[Defaith]

Buying a house and paying on installment is good than renting a house, you will own the house you bought on installment one day and it will become yours forever unlike a rented apartment