Renting is much more peace of mind. Mortgage is stressful.
2006-10-25 05:48:27 · 9 answers · asked by tressa 2 in Home & Garden ➔ Other - Home & Garden
Rent money is money you'll never see again. Mortgage payment is 1) Interest which is a tax deduction and 2) Principle which is an investment in something you will one day own and be able to resell - possibly for more than you paid.
Owning provides stability and security and you can invest yourself in home improvements, making it the home you want it to be. While renting, moving is as easy as finishing out a lease so you don't have the same stability, and you can only make limited changes (like renovating etc) and have to get the landlord's permission for everything.
2006-10-25 05:53:07 · answer #1 · answered by auskan2002 4 · 0⤊ 0⤋
It depends on a number of factors for me. The interest rate, house prices, rent prices, etc. If you can get rent cheap enough sometimes it makes sense to save the extra money up while you are renting and put that towards the down payment of a house. You can probably save up that money faster than you would be putting money down on the principal if you had a house mortgage. On the other hand, with a house you can have much more space for just a little more in cost but it is a lot more stressful, especially the first several years.
2006-10-25 13:09:03 · answer #2 · answered by devilishblueyes 7 · 0⤊ 0⤋
Mortgage shouldnt be any more stressful than renting. Pay on time and its all good. IN the end though with a mortgage you end up owning something where as in renting you put your money in someone else's pockets.
2006-10-25 12:57:09 · answer #3 · answered by kimmi_35 4 · 0⤊ 0⤋
I would prefer to purchase a property. It would be a very wise investment, And as time goes by it would become more valuable. Renting is OK, But if you can do it i would invest in a place of you're own.
2006-10-25 12:55:40 · answer #4 · answered by MattMan 1 · 0⤊ 0⤋
purchase; renting is OK if that is your only option, but it's like throwing money away; in the end you don't have anything to show for all the money spent;
2006-10-25 12:56:49 · answer #5 · answered by Anonymous · 0⤊ 0⤋
depends how long you are planning to stay in that property. short term renting is fine. but long term, you are throwing your money away if u rent - you could have bought it and it's value could have increased. and any money you put into it, can be regained when you sell it.
2006-10-25 12:50:55 · answer #6 · answered by mysterious_gal1984 3 · 0⤊ 0⤋
Your basically throwing your money away when you rent a place.
2006-10-25 12:56:04 · answer #7 · answered by Frak 3 · 0⤊ 0⤋
purchase . Stressful but is mine.
2006-10-25 12:50:21 · answer #8 · answered by Anonymous · 0⤊ 0⤋
but with ownership its an investment, and you get more money back from taxes.
2006-10-25 12:53:57 · answer #9 · answered by NNY 6 · 0⤊ 0⤋