The question that a lot of consumers are asking in these times of economic crisis is: buy or rent a house?
The answer is not that simple.
Everyone gets told that renting a home is a waste of money and that you are better off buying a home. This is not quite true.
In these times of crisis, a lot of people are losing their homes because they can't pay their mortgage anymore. People are scared of that, they don't want to lose a house. A good option to avoid that is to rent one.
Also, if you like to change from time to time, renting has an advantage. If you don't like your current house anymore, you can just wait till the lease expires and move out. This is a lot harder when you bought a house.
These three tips can help you decide whether to buy or to rent a house.
- The 28% cap. Housing shouldn't take in more than 28% of your monthly income.
- Stay for five. If you want to buy a house, you should stay in it for at least 5 years. If you can't do that, you might want to consider renting one.
- Ownership requires work. Bear in mind that if you buy a house, you have to keep it in good condition. Like for example: painting, fixing problems,... . You can also add certain parts to your house, those items are very expensive and can be very time consuming. If you don't want to do those things, you might want to rent a house.
I think renting a house is surely worth a shot, but I rather buy a house.
When you own a house, you can change whatever you want, you can add like a garage or make an extra room. If you rent one, you have to ask permission to the landlord.
If you own a house, you are also pretty sure you can stay there. If you rent one and your landlord wants to do something else with the house, he can just kick you out at the end of the lease.
But I think that the above tips can help you decide whether to buy or to rent a house.
Written by Dieter De Smet
Source: http://www.americanconsumernews.com/2010/04/should-i-rent-or-buy-a-house-3.html (April 27th, 2010)
I think buying a home is the best you can do.
BeantwoordenVerwijderenWhen you have to pay every month for renting a home it's still not yours. It's true that you can move out and rent another one.
But when people are scared that they can't pay their rent than they have to find a way to make it work by spending less money on other goods.
When you pay every month your mortage than after a few years it's yours. than you can do with it what you want. Than it's still your money. But when you buy a home you give your money to other people.
I won't rent but directly buy one. It doesn't have to be a big house. A small one is good enough. But first you have to save a little bit and ofcourse you have to work otherwis it will be hard to do it.
sofie lamon
I agree but i think it's better that you rent a house for a short period and you buy one when it's forever
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