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Does Renting Make Sense?

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  • sandrajames
    replied
    Some of the time.


    Your answer will frequently rely upon the land showcase in your general vicinity. Once in a while, it very well may be less expensive to purchase a house than to pay lease, because of low financing costs, low gratefulness or devaluation, and different elements.


    I was in the market for a house in 2004. Costs were expanding quickly around then (pre-crash). One house that I considered to purchase would have taken a toll me $2,250 every month for a house installment, in addition, to support costs, protection, and so forth.


    As it would turn out, I wound up leasing that same house for $1,250 every month. All things considered, I spared well over $1,000 every month by NOT purchasing that house.


    In different markets, it might be a superior plan to purchase a house than lease, if the interest for investment properties is higher than the interest for new buys.


    With respect to your unique worry about what is appropriate for you, it appears that you have addressed your own inquiry. I would prescribe to you the accompanying site passage that I thought of a few years prior, which will assist you in preparing for your first house, and also other real buys.

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  • Don't believe the Hype
    replied
    Why not do both? - work out where you want to live and the cost to rent there. Buy investment property/s with the rent from them enough to cover the rent in the location you want to live. Both tax effective and sound investment strategy as you can invest in rentals based on strong fundamentals. Where you want to live may not necessarily be a great place to invest.

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  • k1w1guy2
    replied
    Rent was $1 cheaper than mortgage payment ... no brainier for me - Owning is awesome!

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  • sordki
    replied
    I think it depends also on country where you are. For example I'm from Belarus. Property to buy is very expensive. But to rent is quite easy... So it makes sense to rent property here.

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  • Moses Opondo
    replied
    Renting makes sense when you plan on not staying in one location for long time and you can't afford the home or it's maintenance costs.However buying is good if you want to gain equity on your home and enjoy the advantages of living in your own home.

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  • Keys
    replied
    Makes better sense to stay at home with Mummy and save. Keep your legs crossed so that there is no little one involved. Don't buy a pet so that your chances of renting (should you need to) are increased. Keep out of jail. Stay in school when you are young.

    A lot of things assist with home purchases. Not just accommodation. It is never "just" renting. Never "just" saving. It is way too complicated for one "simple" solution.

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  • jummy125
    replied

    Yes it does make sense when you can't afford to buy your own house. While you are renting you should also be saving as much as you can so that later down the track you can buy a house. Renting pays off to the landlord but leaves you with no asset in the end.

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  • Alliee
    replied
    Renting make sense only when there is no enough fund to support buying a home. Because of low interest rates and home prices that have risen more slowly than rents, buying is now cheaper than renting.

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  • Rabia
    replied
    Well it totally depends upon your budget. It you are able to pay lump slum amount then buying a home is good option. But if your budget does not allow you then renting is a a better option. For any thing you could sale out, first you have to invest in it.

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  • jimO
    replied
    Originally posted by Keys View Post
    And I posted a reply but removed it.

    Something along the lines that you must be stupid (can't you see my avator).

    But then, ........
    cant you see mine?? im a tattooed pikey

    Leave a comment:


  • Keys
    replied
    And I posted a reply but removed it.

    Something along the lines that you must be stupid (can't you see my avator).

    But then, ........

    Leave a comment:


  • jimO
    replied
    mine was aimed at keys...........i wasnt making excuses thats what happened

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  • spaceman
    replied
    RLY???




    Dude you started it


    Cheers
    Spaceman

    Leave a comment:


  • jimO
    replied
    har....

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  • spaceman
    replied
    No need to make excuses.... Some boys are just very fond of their mothers.... Nothing wrong with that


    Cheers
    spaceman

    Leave a comment:

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