2006-09-20 17:15:58 · 15 answers · asked by ben287392 1 in Home & Garden ➔ Other - Home & Garden
I would rather rent a house...
2006-09-20 17:22:57 · update #1
I have read the other answers you have been given and there is some really good information in some of them. My personal advice is to buy, and from my own experiance which spans most of the other answers has been, I own my own home and have held on to it through thick and thin. There have been times were I had to modify my entire lifestyle and the way I lived and spent my money just to keep it, the market fell out and I still had a place to live, I have worked and lived overseas and put one of my kids in my house so I wouldn't have to sell and was able to offset most of the payment. I could go on and on with different situations, but I kept my house. I paid $80,500 for it in 1984 and through all I still have a place to live, when I move back to it from Singapore next year and it is worth over a half a million dollers now I have gained on the money spent not just spent the money. If things get tight in my retirement I can always take a reverse mortage on it to give me an income. How much value have you given someone else on thier money while you rented thier property.
2006-09-20 17:47:57 · answer #1 · answered by Doing it too 1 · 0⤊ 0⤋
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2016-07-19 01:19:10 · answer #2 · answered by Leila 3 · 0⤊ 0⤋
While buying is a great investment, it is also a long term commitment, so depending on your current lifestyle renting could be the better option. For example, say you buy a home now, and in a couple of years the housing market declines, and for some reason you are put in a position where you have to relocate or sell for any other reason, like divorce or some other loss. Being stuck selling a home when the value has gone down can really stink! You have to make sure you are ready to invest in a home, and that you are sure you will stay for many years and that you can truly afford everything that will go into it including monthly property taxes, utilities, mortgage, insurance, everything.
2006-09-20 17:23:50 · answer #3 · answered by Sam S 2 · 0⤊ 0⤋
Despite that fact that home owning requires to be more responsible, I think it's better to buy a house. If you decide to buy a property the first step you need to do is to calculate whether you can afford it or not. In case of buying a home, you need to pay for deposit, legal costs such as solicitor’s fees, survey cost, removal costs and monthly bills for gas, electricity, etc. If you can’t afford the costs right now, you should set up a savings plan, which will help you reach your goal.
So buying a home requires patience as well. But no rental can be compared with your own property, where you can change whatever you want and live however you wish.
2016-09-22 00:26:51 · answer #4 · answered by ? 2 · 0⤊ 0⤋
Every body dreams is to be the owner of a house. What r u waiting for if u had the deposit with u? If there is insufficient money, then, go a head to rent a house until u steady in financial matter.
But, how long u goanna rent a house?? Up to ur last breath!!!! Start saving money man…. To own ur dream house…
2006-09-20 17:21:04 · answer #5 · answered by Princess 2 · 0⤊ 0⤋
Thats no longer this kind of perplexing determination. Its data and figures, no longer thoughts. First, the fee of procuring for the abode, vs the fee of renting. which will fee you extra. probably the acquisition, questioning of the downpayment and taxes and coverage. next, how lots extra? Then talk to a close-by realtor and do somewhat due dillegence. How is the genuine sources marketplace interior the community? Is it flat, is it shifting up, did it bypass sky intense (thats how florida did). what's your go out plan after college. Will you prefer to sell the abode? Will you lease it, or stay there. advertising it wont be a undesirable theory, in case you have appreciation. Your widespread abode (i'm no longer giving tax advice, i'm no longer a tax expert, examine with your cpa), your widespread abode, in case you reside in it for 2 out of the final 5 years could be bought without capital gains on it. in the journey that your place is going up in fee say, 30,000 interior the 4 years you're there, purely over a 7% develop consistent with 12 months (it extremely is a respectable develop, you would be able to parent decrease)...then once you grad college and in case you hit upon a consumer, you have 30K to start your new existence with, pay off costs, or extremely, much extra constructive, use 20K to start up anew, positioned 5 ok right into a retirement account, and use 5 okay to purchase a vehicle. sturdy success
2016-10-17 09:10:39 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I bought a house because my money is there and accumulating in appreciation towards property value and the house every time I do something to improve the outside my property value goes, but so does my house.
If you rent...it's okay based on your circumstances if it is a short term lease like a year. If you plan to reside without relocating.,.it's better to buy sooner than later, because your throwing all that money in renting down the tubes.
2006-09-20 18:09:54 · answer #7 · answered by Anonymous · 0⤊ 0⤋
It's best to buy a house,it's like a savings account.
Rent money just goes down the drain. No Equity.
2006-09-20 17:21:51 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Buy it. Renting just throws your money away.
Buying a house is an investment that you can use as collateral for future loans or even sell the house and get moeny out of it.
2006-09-20 17:17:38 · answer #9 · answered by sshazzam 6 · 0⤊ 0⤋
Buy a house.
1. Realization of the American dream.
2. Tax write off.
3. Investment for the future.
4. Interest rates are still historically low.
Look at the wealthy in the US. Most made their money in real estate.
2006-09-20 17:23:01 · answer #10 · answered by ellikat21114 2 · 0⤊ 0⤋