Do you think it is good to rent a house or buy a house for managing your personal finance? I think renting is better as you can use your money to invest in the market instead of paying for your house. A house is a liability, in most cases.
Renting Vs buying a house
- Thread starter nomad
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I would rather buy a house than paying for rent. A one time payment is always more financially sensible than having recurring expenditures.
I can agree more. It is one of my biggest dreams in life. When we moved out from the family house, I felt the sad part in my life. So, I am working hard for it.
I do not think that it would be a really great idea to get a loan and buy a house. Unfortunately, this is what many people do. If you have spare cash, then you can buy a house and rent it out.
If only I had the financial means, I would prefer to obtain a house rather than renting one. Accomplishing that would bring me a great sense of fulfillment. Besides, there is potential to generate income from it in the future. I could rent out a room or the whole house to earn some extra money.
If you don't have stabile work or long term contract, then choose rent. But if you have long term plans in that area then live in rent for a year and then buy something. Today rent price is almost as loan but even with loan you can later sell house in case you change your mind.
Also there is no point in spending money in rent , it's better to use this money on the installment against the bank loan.
If I have the means to pay off my monthly amortization I will do that instead of paying it monthly basis.
I am done renting an apartment now paying off the house I got.
I am done renting an apartment now paying off the house I got.
True, after paying it's yours so you can always do whatever you want with it without having to worry about rent and all that. The money for rent can be used for something else.
