Renting vs owning a house?
February 19, 2009 by Builder Wong
Filed under Maintenance & Repairs
Which do we consider is best? we am in use full time as well as in attendance college full time, though we am formulation upon staying in this area. we have already been renting for 6 years in this area. What do we think? we am only disturbed about a something starting wrong in a residence as well as a combined probable losses of upkeep as well as repair.
Every finacial expert will tell you its better to rent while you are in school for a wide variety of reasons. Mainly just because your life is very up in the air and you never know when you will have to move or change your lifestyle. Unless you have a large sum of money sitting around where you can easily buy a house. But thats very rare for any student.
If you had purchased 6 years ago you would be much farther ahead now financially. There is no reason to believe that 6 years from now the situation would be any different.
There are two keys: don’t buy a place you can’t afford; and don’t buy the best house in the neighborhood.
Sit down with a real estate agent – it is free – and get them to show you some houses. Then go talk to your bank manager, figure out how much you can afford – then do your homework. See every house you can – make your agent work for their money – and when you’ve found the house of your dreams don’t skimp on spending $300 or so on a professional house inspection.
Yes, there are additional expenses involved in owning a home but if you can qualify for the financing home ownership is like putting money in the bank every month.
You can avoid the possibility of major expenses for repairs by buying the right home. A home inspection will tell you if there are any anticipated problems with the property.
Work with an experienced Reator who will help you find just the right home for your needs.
The tax benefits alone make it worthwhile.
Owning Is almost always better than renting. As long as you can afford to pay the mortgage repayments the value of the house will always go up fast enough for you to easily pay for any repairs with the increased equity of the house.
I recommend you read “Rich Dad Poor Dad” by Robert Kiyosaki. Good Book!
That’s a hard decision. My Husband and I are getting ready to make that decision to. We have been renting for 3 year and ready to buy our own home. But We like the renting because we can get stuff fixed when it breaks down or something. If you own it you can’t call anybody. Another thing is that you need to know if your job won’t relocate you. You would hate to buy a house and then have to relocate. There’s a lot of factor’s you need to consider before moving. I would like the freedom of be able to paint and fix the house how you wanted to . That’s a plus.