renting or buying and why?
2007-08-10 00:30:09 · 11 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
If you will only be in the house for 2 years or less the you should definitely rent. If you will be there five years or more you should certainly buy.
In between you just have to go with your gut.
2007-08-10 00:34:25 · answer #1 · answered by glenn 7 · 0⤊ 0⤋
Usually buying a house is the best return on your investment. Most of the time you'll get your money back when you go to sell the property, but in these times...If I were to buy a house, I would definitely low ball them with an offer, big time so if the value of the house goes down, you'll still be at least near to the price you paid for the property. You'll also be building your credit reputation while paying your mortgage, which is a good thing if you pay on time, all the time. If you're a first time home buyer, there are some great deals if you ask around retailers, banks and mortgage lenders to help you get into your first place. If you also buy a property that needs 'TLC", then you can fix the place while you're living there, and when you want to sell it, you should make a profit. Well, that's my two cents. I wish you luck there! As for renting...what do you have to show after a year or two or three? Nothing! Go for the buy.
2007-08-10 00:41:57 · answer #2 · answered by Anonymous · 0⤊ 1⤋
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2016-07-19 04:36:59 · answer #3 · answered by Trisha 3 · 0⤊ 0⤋
Buying is most certainly a better investment even if you are going to be living there for only a couple of years. You can build up equity in your home by doing little things to it and even landscaping raises the appraisal values on homes. In renting you have nothing to show at all for your money that you payed out to live there other than a place to stay. Owning a home outweighs renting too for reasons like the only real way you could lose your home if you own is to just not pay your payment. But in renting you could find more issues with the owner not fixing things that needed repaired in a timely manner, they could decide to not rent it because they have been offered a price to sell it to someone, or they could be very hard to deal with as a landlord.
2007-08-10 00:41:10 · answer #4 · answered by Jason 3 · 0⤊ 1⤋
Hey wish it was that simple but believe me it's not. It depends just like anything else on the going rate at the time. When property values go down you really loose money on your house and visa verso. Look at market value and where the property is located and what state it's located in. All these things come into play, Then there are all the pros and cons, for example: 1. Up keep, remember all the things that can break down and need to be repaired over the years. Electrical System, Plumbing System,Heating System,Air Conditioning System,not to mention all that back breaking yard work and snow removal if you are in a Northern state. (smile). Got those great shade trees, don't forget about those Autumn leaves. 2. Remember you can't call management or your real estate or your landlord, cause You Are the landlord and all of this is on you! 3. It's a lot easier to pick up and relocate if you don't have a house to worry about selling or renting out, which brings up another point, if you are ready to sell how long will that for sell sign stay out in front? 4. Property taxes usually go up, never down, and oh yes don't forget about the security devices you will need, cause if you are in a bad neighborhood you'll need lots of protection, and if you are in a up scale one you will need it even more. The first to keep folks "out" and the second to keep all your great stuff "in". 5. Neighbors. Pros: 1. You can paint,decorate add on to tear down restyle to your hearts content. 2. It's yours you have now (made it ) cause you are now a respected home owner (you and the bank I mean). 3. You have this wonderful blessing to leave to your wonderful kids. 4. You can have the garden of your dreams and all sorts of lawn parties and garage sells to help you pay for your wonderful mortgage! 5. Your neighbors. Now your noisy kids can whoop and holler all they want without some one complaining to the land lord.
2016-05-18 21:28:41 · answer #5 · answered by ? 3 · 0⤊ 0⤋
Depends on what your needs are!
If you are settled in one location and have a good job and good credit, it seems kindly wasteful to shell out money for rent when you can have a house payment for about the same amount. Houses have good equity.
However, if your job isn't that stable, or you don't plan on being in the area for a while, then it doesn't make sense to go into debt to buy a house.
2007-08-10 00:35:39 · answer #6 · answered by Nasubi 7 · 2⤊ 0⤋
if u r going to settle down for ur life long @ the place u can opt 4 buying rather than renting..
it wil b proud to own a house of ur own..u wil hav a permenent address rite..
nd if u r nt sure u wil b @ tht place for ur life time go 4 a rented house.. tht wil b better
2007-08-10 00:37:37 · answer #7 · answered by insane 4 · 0⤊ 0⤋
Rent-To-Own Homes - http://RentToOwnHome.uzaev.com/?pzEU
2016-07-12 12:52:41 · answer #8 · answered by Esther 3 · 0⤊ 0⤋
Renting is like using your money for the fire pit out back. No return on your investment. Owning a home could provide you with tax benefits (return on your investment), increase in value (return on your investment)... how's that?
2007-08-10 00:35:43 · answer #9 · answered by Anonymous · 1⤊ 1⤋
i't better buying instead of renting. becouse when you rent a house it's never gonna be yours & you have to spend a lot of money.
2007-08-10 00:34:25 · answer #10 · answered by Kate 3 · 0⤊ 1⤋