The decision between buying and renting a house depends greatly on your family’s financial situation. Each of these options has its advantages and disadvantages. Both options are acceptable. Everything depends on the needs you have. So, buy or rent? We will see what is the best option in your case.
If you can not pay in cash … Intuitively we believe that the best option is to buy a house. We think that renting is throwing away money, but to buy a house most of us also “rent” a large amount of money monthly.
If you acquire a mortgage, and pay interest, then you rent the money from the bank.
If we see it from this point of view, and add to this the different scenarios of life, the choice is not always as simple as it might initially seem.
So, what to do? We go for the most detailed way where I will see the advantages of each of these two options.
At the beginning we will see what makes so many people want to buy their own house or their own apartment. What advantages will you get by buying?
You acquire something of your own – have a property, your unique place where you can always return is definitely a beautiful sense and a dream of many.
You can make all the repairs and modifications you want – each person would like to build their house according to their tastes or modify the one they already have, which is not possible with the rental contract.
You will not pay for your whole life – if you rent a house, it is necessary to do so. Because it will never be yours.
In general housing prices grow in the long term – so buying your own apartment would not be a waste of money (although if you buy it to live there I think it is not an investment, you can read it later)
You have a house that has its value – even if we buy with a mortgage, after a while we pay it and we will be absolute owners of it. In the case of rent at the end we are left with nothing.
The house offers a sense of stability and security – often changing one place for another can disturb the peace of our family, especially if we have children.
You can generate passive income – if one day you decide to move, you can rent the house and get income for it. If it’s a big house, you can also rent a part of it.
A mortgage forces you to save “automatically” – an important argument if you are a person that money runs away between your fingers, paying for fees will be sure you do not consume this money.
Rent as indicated by bcn barcelona apartments:
Well, now that they think about this the people who support the option to rent. What are the advantages of renting the house compared to your purchase?
You do not need an initial fee (down payment) to rent a house – lower costs to start and live in a house, you can also move in a better area or area where you would not be able to buy a house but to rent we have enough money.
You can change places in case of problems – in the case of rental you can easily solve problems such as: annoying neighbor, noise outside the window, not being able to have pets, etc. Just look for another apartment. In case of buying a house, you spent a lot of money and therefore the decision to move, although not impossible, is more complicated.
Flexibility and mobility – this is very important for people who continuously change city, for those people with an adventurous heart who go from one place to another. Also for people who, due to their employment, need to move around the city or country.
You do not have debts or bank mortgages – if you run away from debt, this would be a good option, it saves you the pressure of having a mortgage and of not having money to pay the monthly payment and to be homeless.
You have no worries of repair – a house always requires repairs over the years, as well as modifications. With a rent you avoid the worry of having to make these expenses.
You are not risking losing everything – in the event of a real estate crisis or not having money to pay off the mortgage.
Renting can be a quick and effective option – you do not need so many paperwork to acquire a place to live. It is an easy way that helps most young people leave their parents’ home to start their independence as said on aparthotel barcelona.