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This topic has come up quite a few times over the years on this board.  A lot of the discussion around it has mostly been others opinions.  I found this neat little graph online (instagram) from the New York Times that compares the two.  Now keep in mind one's location will certainly have an effect on which one might make more sense, even in what part of you own country you're in.

https://i.ibb.co/q7Ltjx3/IMG-4098.jpg (https://ibb.co/fqVhFQz)
https://i.ibb.co/ckMPpQh/IMG-4099.jpg (https://ibb.co/8NTJR9g)

it really matters when you plan of how long you are going to stay in a certain place. if you have a kid and you give importance to his childhood friends and that he could have a life long friends, i guess buying would be better for he can have a place to call a home town.

if you are just in the place where you are called because you have a job. i think its best to just let your kids visit from time to time and just rent a place when you know you won't be staying for a long time.

It all depends on a person's finances, and I'm sure everyone if they have enough money will definitely choose to buy a house. Because they have their own house, they will feel safe and comfortable without thinking about having to pay every month if they rent and this problem will become a burden for them when their finances are unstable or when they have no money. And what you need to know, almost everyone who rents a house has high hopes of owning their own home, but they just don't have the ability. Apart from that, they also think about what if they don't have the ability to earn money or are no longer productive if they still rent a house.
However, if we talk about whether it is more profitable to rent or buy a house, it is indeed more profitable to rent, but that doesn't mean you don't have a house for the rest of your life. And if you don't have the means to buy a house and if you have a stable income that is more than double the price of renting a house, you can use some of your money to invest. And with this in the long run you can own a home if you do it consistently and put your money in the right investments. And this is in my opinion and whatever the reason, owning a house is much better and more comfortable than renting.

If we are really that trying out to make those calculations then we can really tell that renting will really be saving you up more bucks rather than on building your own home which if we do speak about
being wise or practical then we would really be heading into this option but we do know that there's a feeling or security and having that feeling of contentment on the time that you do be able to buy your own
house or something that you are mortgaging into. Yes, it would be a long term payment but you do know at least that you do own the house. You wont really be needing up to find or look for another
place which is really that happening when you are renting a house which it is one of the cons of it but of course it will really be just that depending on the financial capacity of a certain individual in the end of the day.
Yet, there are still those who do able to afford on buying up a house but still ending up on renting out on which we do have those personal reasons but in overall i would really be liking on having my own house
on which you can confidently say that you do really own it.

err... where's the link? the one mentioned in your pic. because that "neat little graph" of yours is useless without context.
why post such a thread if you can't provide the actual data?

You have said it all. Location is all that matters. Buying a house in New Jersey, the price will be different from Georgia and will be different from buying a house in Alabama, the cost of living and development affect the cost of purchasing a house also the renting.

Your activity also will determine if you will need a house or rent a house. If you are living in an environment for work and no family involved, you might want to buy because there is no use in buying a full house when you will not be needing all of them, an apartment is what you need and not necessary full house, this will save you some money.

The amount you earn also determines if you can afford to buy one or rent one. You can get employed in a city where your annual salary might not be able to cover half of what you earn, you will have to settle for rent apparently.

Buying a home is the better action for the future because, even though renting a place seems cheaper, you are never assured that the rentage rates will remain the same over the years. The amount can actually increase from the original amount that you know to an amount that you may not be able to predict.

The benefits of buying a home are too numerous to count.
If you are staying long, you spend money once and never have to worry about keeping up with your rent; the money you spend will just be for maintenance or to add some more facilities to your home to make it more comfortable.

 If you also do not have plans to stay long on the property, there is also the possibility of earning money by renting it out to other people for a certain amount of time. When you buy a home, you are also the owner of the land, and you can decide to pull down the structure.

I'm certain that this thread does not call for our opinions to count but at least we have to contribute a little with our knowledge. Perhaps our opinions will be so much biased based on individual experiences and geographical location which @Op already mentioned.

From my own biased perspective, buying a house is only reasonable if your idea is long term based or even permanency but if it's a temporary location then it's ideal to only rent a home. Although in Africa we call a home permanent home if only it's your locals or your "village" that it's when you can certainly have your own home so you would minimise the cost of renting a home in your home town.
But some times people buy houses in towns / cities to certify their guts or to answer a house own, while some acquire them for investment purposes as even if they have left that location for another if rented out too it could fetch them some kind of extra funds while away.

The important point there is buying a house is for the permanent, while renting is for the temporary.

Financial muscles, location or locality etc are determining factors on whether to buy or continue to rent.
However, psychologically one would love it that that beautiful apartment rented is their own making ownership better off coupled with the confidence it'll bring..

You can be in a place that your pay can't afford a building with at least little comfort, but can afford in other places, it becomes a matter of choice and future targets that one has.

I would like to start with some questions to find the appropriate answer for this question.

Why do you buy a house, just for the sake of living, thinking it as asset then renting is far better cause it give you flexibility when you want to move from one to another but we can't really take the rent will be growing at this same rate, it can go on higher than expected that we never take into an account.

But if you buy a house, simply because you can then just buy it.

Yes, those annual increase will surely be put up with those landlords or those owners on which they would really be definitely doing such thing on which we know that inflation is on the works, so expect something like this. Just like the rest been saying that the beauty that you do have your own house is that you do have that kind of confidence that you wont reaslly be kicked out, also it would really be that being that too comfy
on sleeping into something that you do know that you do own it and there's no one that would be having the rights on what you should be doing. For me, it would prefer on having my own house and i do rather choose on having that 1 time purchase or payment rather than on paying up on monthly. Yes, it might be something more expensive but it is really just that in one go rather than on having that lifetime renting
on which you dont even know on how long that property would be lasting or wont be sold totally or some other possible things that could happen.

If you have the money buy the house and stop renting. Remember even though you are renting a house you have to do some maintenance work in the house to you taste and not everything you will like to involve your landlord to come and do it for you buy a house, you can design your house the way you want. There are some kind of things you won't do in the rented place but you can do it in your own house.

It is not even advisable for a grown up person to rent a house when he has the money. There is nothing like personal home.

I have grown in a home where my parents believed that it's better to own a home (for some reason). That it's just something adults do. But when i grew older i started to see the costs for that. Constant maintainance and renovation. And people tend to think it's a good investment, but that investment doesn't have much liquidity if something happens to the neighbourhood or you happen to get mold or something like that. If markets aren't favourable for selling or renting houses in that area, you are pretty much stuck with it. Like holding an NFT in illiquid market, except it costs way more to take care about house then a private key.

Compared to that, renting is just flexible and carefree.

     Currently, I have been renting a house for 8 years now, and now, while I'm in the crypto space, I'm doing trading that somehow gets me earnings, and I'm also looking for other sources of income that can supplement me via the internet on different social media sites such as Facebook, YouTube, and more.

     Because in truth, I am not yet capable of buying a house right away because I don't have any cash, so my option at the moment is a housing loan, payable in 25 years, and now I have only had a down payment for 3 years, and I haven't moved yet because I still need to renovate it a little before moving in, and this is what I'm saving up for so far. While I'm in the rental house, my target is to be able to move in before the end of this year to save on cost. Because I'm tired of renting.

If you plan to settle on an specific area then it's best to buy a home there and have it mortgaged depending on your income too. But if your job is a typical field and you roam everywhere you're deployed, obviously it is best to rent. There are cons and pros for each of it. One cons for renting is that you won't be having the property even if you stay there for the long run. Compared to buying a home, someday it will be yours once the mortgage is paid. But one pros of renting is you can move freely everywhere you want to go and you are not subject to the repairs, taxes and maintenances but it depends to the setup but at most times, it is shouldered by the landlord. With buying, the appreciation of the land is on going and if you want to liquidate it, that's your investment that has increased in value and you can also give it as an inheritance to your kids.

Rent  (https://youtu.be/1vo38fwODUY)unless the house prices are going up especially or you have cash to hold in property that would be usefully deployed that way.   Some people will always buy the housing then themselves become the landlord and let it to others.   If you have the skill to do up old housing with some good trades skills of either your own or just good friends who are tradesmen perhaps or make the most of property in a variety of ways beyond just owner occupation then you can make something of a business of it all and the question changes substantially.

There's an upcoming real estate crash worldwide. We've seen it happen in China and it would follow everywhere.
The price of real estate are artificially inflated. Most people can't afford to buy a land and home with their life savings. There are agents and people who have multiple real estate as investment while there are not enough wealthy people to buy at their rates.
The population decline has started in the developed world. People would now require less homes and less land. 4 grandparents have now just 1 grand child. There are two extra homes that could soon be empty. It would be wiser to wait now and stay in rent. I and my wife too are saving for a house and we are waiting till it crashes and we get a house at 50% in cash savings. That would happen in next 5 to 10 years.

The fear on real estate crash are sometimes manufactured as well so the optimist in me says this is a good time to buy and put it up for rent. You'll get it cheap and live rent free while someone else is helping you payout the housing loan or other expenses. You can get a two-story and live on one floor while renting out the other. If you find that too costly then you have the option for a two or three bedroom.

The need to cut cost of our expenses is because we don't have enough fund to our savings.
Actually buying is the better than renting because you can use it as many times you wanted without that reminder that times running out to return it and every single hesitation of return has tendencies of paying more which Could never had been on budget and besides you could need it multiple times which is over and over. The stress of picking and returning would be much.
Let's also consider possibilities of damage which you'd be expected to replace it.
Although buying would be much expensive so like I said, you can go for buying if you can afford it and also consider your income if it can handle the purchase.
Renting can actually save you chances to manage your income and make certain savings While you're renting since the funds are not going in bulk. So by algorithms it'd be economical for an average earner although you'd spend more than who buys.

I'm not sure, but it probably depends on the policy where you live and your needs to decide.

As I know in some countries real estate is very difficult to access, and a job designed as a desirable home will also use up most of the main financial budget even at an average income level.

But the problem will easily happen if you are really rich enough to have many choices, after all we always assume that everything we own will be ours forever :) But it has to be like that wrong that the seller wants to limit the mode of telling everyone. Renting a house is also a unit that I think would be suitable, but the paperwork surrounding settlement will also have some things that we have to measure. Anyway, it is everyone's need, so depending on your financial ability, you must decide accordingly.

im more in the opinion of buying home, when you buy home you have an asset that you can resell, if your property location is strategy the value of the property you bought gonna increase.
meanwhile renting means you just working for the landlords and owns nothing at the end i mean yeah its more affordable but I see no value in doing that where my financial condition will just become stagnant at the end of the day.
but this kind of decision also depends on the financial strength of an individual, if it seems that the housing market is already so over valued to the point where you can be working for half century and still couldn't afford a house then there's no choice but to rent.
so my idea is that, if you have the money or at least can strive to have the necessary money enough to buy a house go ahead and buy a house, its an asset that you can sell later on if worse come to worst.
the biggest wall that most people nowaday can't break through is the capital needed to buy a house, thats it.

When discussing whether it is better to buy a house or not, it depends on where we live, because we cannot generalize housing prices in a country, because usually house prices in suburban cities and the city center can be very different. And also we need to consider financial capabilities, a person's job, and whether the person needs a house or not. Because if the person has a job that doesn't stay in one city, then renting a house could be the best choice. However, if he has a permanent job in one city, but does not have enough income to buy a house, then it is better to just rent a house or buy a house on the outskirts with easier access. So there are many considerations for someone buying a house, because renting a house could be more profitable or conversely buying a house could be more profitable.

I agree that it depends on location, country, and personal finances. In my country, houses are very expensive, even those far from the city center. Most people need to take out loans and pay them off over more than 10 years. This can be a significant burden for those with average incomes.

Therefore, if you have an average income, renting might be a better option. Renting provides more flexibility to choose a house close to your office, minimizing commute time. Additionally, it allows you to move easily when changing jobs. You are not tied down by long-term loan payments.

Considering these factors, I would choose to rent over buying a house in this situation.

This is a very long consideration for us to decide whether we will buy a house or just rent. In my country, most people work outside the city and it requires them to leave their hometown, in such a situation it is more relevant to rent a house, because they do not have a permanent job or they only work as contract employees who do not know when their work period will end. whether they will get a contract extension or not.
The cost of paying for a house or renting in installments is also very different, of course it will be a burden in itself when they have to take out a loan over a period of many years. Not to mention that the income will not be commensurate with the expenses later. This goes back to our respective abilities, and this must be a careful consideration.

It really depends on your lifestyle. Only you will understand better what your position will be after 10 years. Also your purchasing power and your daily life routine will influence your decision making. I would definitely prefer buying a house over renting a house, if you have enough it's definitely better to buy a house. You can buy a house that you can rent out to others and live there yourself. In that case, if you calculate the house rent, after ten years your invoice will come up to more than half. On the other hand government employees have to transfer to different places, if you cannot stay permanently in one place for work, then a house rental will be the right decision for you.

Its case to case basis since it will matter depends on your needs. Since if you are low income earner type of person then for sure that you can't afford to buy a house on urban areas since the housing cost there is so expensive and you will only go with renting option since this would be quiet convenient for you and you can access everything you need especially your job if you want to be near on that place.

But if you are in province then I guess its better to build a house since everything their is cheap and there's available resources around which can help to lower the cost of your spending's.

Overall it really depends on the demand or what people need since for sure there's a reason on every decision made by people. But if there's really a choice that a person is capable to do things that they like for sure they would choose to build a house where they find safe and comfortable especially if this is near to malls,hospital and their work place.

If you have the means to buy a house, then buy one. It's hard for a family to move now and then because all you do is rent all the time. The only reason why a family doesn't buy a house is if one doesn't like living in the place, either the father or the mother is undecided.

One parent thinks of going to live close to her/his parents and the partner doesn't want to live close to the partner's parents.  This is something that both have to decide really.

If you already have money, it is better to buy a house because for the future the house is everything.
I think a house can't be compared to anything, although there are people who still think that when there is money it's better to invest it first before buying a house but I don't think that's the case, in this life the most important thing is the house so no matter what the condition is we know must go home.

Regarding differences of opinion in determining a place, I think it's a normal thing, every couple definitely has differences of opinion that can compare for more for both of them.

It all depends on your financial conditions. At the moment, homes are way too expensive for a person doing odd jobs or earning an average income. If you have kids things get more difficult at times. From an investment point of view, it is a good option to buy a house because over time rental and property value will increase and the ROI will be less, of course. You can also explore other options of investment i.e. stocks or BTC. Let's say you have $500k, and instead of buying a house you choose to rent and invest your money in stocks and bitcoin. Your money will increase many folds after a few years. If I have to choose between the two options, I will go for renting a home rather than buying the property.

Exactly, the need right now is indeed a place to live. It's impossible for us to always go with our parents. Every human being definitely wants to build their own small family and live happily with the people they love.

I agree with your statement, but is buying in this context the same as building a house? because there are 3 options
namely buying, building or renting. Of the three, it is more appropriate to build it in your hometown, that's what you mean. However, if you buy, depending on the location and your child you will have to adapt differently. Having offspring is certainly ideal for building your own house because it will be a legacy for your children, a place to return to as your hometown in the future. Nowadays, no matter how far we travel, no matter how long we are in another country, home is still the most comfortable place to return to. Even though it is simple, even a house in your hometown will have a very valuable history.

If you want to live for good for that certain place considering a lot of aspects, then buy if you have all the means to buy. After all, if ever you change plans in the future, you can still have someone rent it as long as the unit is conducive by all means.

However, even if the are is not totally developed but you have seen some good potentials for progress in the future, then you can always buy it and probably resell it in the future for a higher price. At least your capital has doubled or even tripled its price.

I agree, the OP's question is too general and difficult to answer accurately because as you said, whether to rent or buy a house depends on many factors.

Personally, I come from a developing country and owning a house is much more economical than renting. Not to mention, owning a house or real estate can also bring us a source of passive income. Meanwhile, many people choose to rent a house because they do not have much money and many people think that: with the total amount of money they use to rent in their whole life. They can own a house and after they pass away, that house can be left to their children. That is one of the advantages of owning a home in my country and that is why everyone dreams of owning real estate.

Just like what Dave Ramsey said, those that can't afford to buy a home can temporarily rent until they think they can. I am in the same opinion as Dave here. Be prepared before you purchase your dream home or even not your dream home but your home where you'd stay until your retirement or for a long time. Renting doesn't mean you're broke but it allows you to become free from many obligation although your main obligation is to rent and pay that monthly rental.

https://i.ibb.co/KVCgDQQ/441710293-1515536469176974-2085727672746565923-n.jpg (https://twitter.com/DaveRamsey/status/1787926802523890151?lang=en)

I think everything is connected. In my country, you can buy a house, but where my husband's brother lives, you can only rent a house with this money. Which would I prefer, or most people? Naturally, if you have a good financial cushion, owning your own home is always smarter. You belong to yourself. In your home, you are the master, and no one can tell you any rules, which cannot be said about rented housing. I think this amounts to a business working for the owner, which is different from working for the boss.

I believe anyone who have the money and haven't have their own house yet will do that. It only needs a basic thinking. They know that they can save more and it gives them a peace of mind. They can also customize their house freely because it was their own.

Those who currently rent a house, they do this because they don't have a good budget yet but I'm sure that one of their dreams is also to own their own house. If we are renting, I think the maintenance for the house is already an obligation of the land lord/lady. AFAIK there is no rule if what age can rent or own a home but it only depends on our financial capabilities.

For me, I'd rather buy my own house in the most possible ways because there's a lot of offers so you can have your own house just like housing loan or even the government housing fund, but it depends on your financial capacity because there's a requirements before you approve on your requested housing loan, some people cannot afford to fullfil the downpayment that's why they enduring renting because that's what they only afford but who doesn't want to have their own house? Nothing. right?

I love this pic as it says a lot. I even somewhere that renting an apartment could contribute to making one wealthy because they have little cost of maintenance to incur, except for bills that need to be paid.

I for one have lived in a rented apartment for sometime now and know how depressing it could be to stay in one place for a very long number of years. It is unless I choose to settle in a place I consider developing and urban and safe to a very good degree, I would rent and save up while I also look for investment like cryptocurrencies to invest and make returns from in the meantime, before buying a house/home where I can raise children and love a good wife.

Yes, in this case it will really depend on a person in preparing for their future and the way they manage their finances, if they can use their income well of course they will be able to easily save and buy a house for their future, however if they have a small income but have a luxurious lifestyle, of course it will be very impossible to buy a house.

Everyone will of course choose to buy a house where they live because if we continue to rent a house of course every year we have to think about the cost of renting a house which continues to increase and it would be better for us to be able to buy a house if we have enough savings. save, for government employees who have jobs that are not permanent of course they also want a house to live in and usually they choose a place where they live and if they work outside the area they of course have to rent a house or live in an official residence they.

Actually, there's more to that tweet and that's just the first two lines of his tweet. And that is true, you have only to think of the monthly rent or whatever is the setup with you and the land owner and as well as the bills that you are obliged to pay.

For me, I have no problem staying to a certain place for a long time as long as my needs are there and I am living comfortably there. Forget about those people that are saying that are living in their comfort zone won't grow. We're different in kinds of living and living in comfort zone is king to be honest. So, while you're renting, all of us have the goal to own a house someday and that's part of your plan that you will rent for now until you are prepared and have got enough money to purchase the property that you have been dreaming of.

The first thing you have to pay attention to is whether you have enough money to buy a house. If not, you can rent a house until you have enough money. Don't force yourself to borrow money from the bank even though you are sure you can pay the debt every month.

The price of the house will depend on its location, so if you are ready and have the money, you can choose the house you want. Everything needs careful planning because we are talking about a lot of money. It also depends on your financial condition, especially since you still have many needs that must be met.

For now, renting a house is a good decision as long as we are still trying to save. Everything has positive and negative sides, so we have to be careful when deciding whether to buy or rent a house.

Buying a house is the best but not everyone can afford to buy a house, and this is where renting a house comes in play, because everyone needs a roof over their head. Whoever cannot afford to buy a house due to his financial status should rent and have plans of buying, but if as time passes by, and you still cannot afford to buy one for yourself there is no need for worries.

Those who bought houses have already conquered accommodation problem for their generation, because their children will inherit the house and might not need to think of renting. It is also way of investing because you can rent the house, or sell it if you don't have kids when you are old.

It depends on how much money you have and how much you earn.  If you want to buy a house, you will need a lot of money.  And if you want to rent a house, you have to pay the rent every month or at regular intervals as per the agreement. the money you are spending on house rent is wasted. But if you can buy a house, you will live there for free, this is a plus point for you, on the other hand, the value of your house will increase as time goes by. So in this case you are taking the advantence of living free as well as investing in a strong asset. So I would say if you have enough money you should buy a house instead of renting

There's no harm in choosing a mortgage because you're bored of renting a house. Have you read carefully the bank's payment system, usually many people are stuck (confused) or don't read in detail about the bank's fixed or floating rate payment system or scheme as if in the first or second year until the final payment such as renting a house. As far as I know, in the third year or so, it will usually be affected by the bank's floating interest rate. Usually every 3 years the floating rate will have different additions. Please correct me if I'm wrong.

I agree with what you said above by looking for additional income, but not by trading on the crypto market, there are still many other ways to make money. If you are looking for income from trading, you should be careful in what you do, this will make your finances worse.

It is very certain that if we have enough money then buying a house is the right decision. I think if financial resources are sufficient then the logic is that you can not only have one house, you can even get more than that. Of course it is very strange if someone has money but he prefers to rent a house, in my opinion it is just a joke and very unreasonable. Except some people do speculation like that (renting a house) because they want to have a place close to their office or place of work.

The main answer here depends on the tax on the location compared to the rent cost. I'm not familiar with the taxation of your country but there’s some state in the US especially the popular city has a high tax rate for owning a house that’s why many preferred to just rent a house since you will save from tax and at the same time low maintenance cost since you can just change an apartment anytime you want.

In my country, owning a house is much cheaper than renting since we don’t have high tax on real estate properties. You can already purchase a house if you will save all your rent.

If you live in a place where you work, then you must consider how long you work there and how much you earn per month. If the duration is short term, renting a house is the best choice. But if you get a long-term contract with an above-average salary offer, buying a house will be much better for you. Don't push yourself too hard to get something beyond your capabilities, life is a choice, you can choose something that is profitable and won't be a burden in the long run.

It doesn't matter where anyone is, I think it's a similar thing everywhere... it's the location that matters. The better the location, the higher the price per square meter both when renting or buying. In my opinion, it's better to buy a property, even with credit... after 20-30 years you will have your own house, and with renting after 30 paying for rent all that time you will still not have anything.

I decided to buy a house 8 years ago... I'm still paying it off, but if I had been paying rent all these years I would have nothing of my own.

This topic has appeared several times here. But I always don't get bored of listening and participating in discussions in it. Because sometimes in discussions like this our insight can increase by reading and thinking about every answer submitted by other users. I even reflected a little on the part shared by the OP.

And actually, in this case, there are some people in an area who prefer to rent rather than buy. for various reasons, whether for work reasons or even because they want to avoid property taxes. But I'm sure for those who already have a family such as a wife and several children, they will tend to buy it as their main choice. But for business people who don't have a family, I think renting will be a much more viable option. Because there are many choices of house rentals with low rental costs. And the other money can be used to invest in other things in the business to develop again. But what is clear is that the choice is actually the best to choose. As long as it is adjusted to each condition. And each person has their own condition.

If you cannot afford to buy a house then renting an apartment should be the first move. Meanwhile ill choose buying a house over and over again. It saves one more money because the value of rent increases exponentially, only house owners would be able to scale through such situations because instead of spending such big money on rent they would use the money for more better things. At first we may not have the money to buy a house which means renting the apartment is an option but let it be an apartment that we can afford the entire yearly rent in a month. A friend always say to me if your monthly income is not equal or greater than your house rent you are not qualified to stay in such house.

This issue must be resolved individually for each person. For some it is convenient to rent housing, but for other people it is convenient to build their own house. There is no single right solution. If you have a stable job, a family, and you like a certain area, then why not buy or build a house there? If you like to often change countries or cities to live in, then why should you build a house? This will create unnecessary problems. There is no universal answer to this question.

This always depends on the person. If you are a worker and earning a salary, spending a good portion of it to buy a house isn't a bad idea, you gain an asset, and you do not have to pay for rent without having anything. Rent goes to waste in that situation, buying a house means that you are going to pay the same amount, probably less or more but something similar, but in exchange of that you are going to end up with something.

At the same time, if you are a business owner, instead of getting a loan (or pay in cash) that much to a house, you could spend the same money to your business and in return you would be able to actually make some money that will change a lot of your future, will make you rich beyond your dreams, whereas a home won't make any changes for you.

Normally when one is financially buoyant buying a house is never a problem even if renting is cheap, one would just prefer to have a personal house own by his/her name. Buying a house takes the stress  of paying for rent every year, but for one that is not financially buoyant to buy a house, but can struggle to raise money to buy house , their are some certain aspects that needs to be look into if the property can add value to them value financially. I know some people that are doing well in a good location and after buying house in a location that house are affordable everything changed .

If renting can still keep  one going in business,  financially it is better to just rent to gain more financial strength.  Taking a decision like this , it is something that needs to be looked critically not to later be a cause to financial set backs in life. For those who have the money to buy house in any location it is a good plan but for those that are trying to build good financial strength it is something that one needs to think about it properly.

Depend on your financial condition between how easily to manager buying or renting home, actually most people right now buying home with credit getting bigger loan interested almost 50% to 100% of basic price home. Its not worth if having not stable financial condition buying with not fully cash behind how many property companies giving us bigger loan interest have to pay around 15 years later based on in my country happening right now.
I think although not worth with renting its not much problem and has moment for saving money to buy home with cash one day later, I think just taking around 3 to 5 years later for us saving much money and has chance to buy home with fully cash without pay much loan interest every years or month.

These calculators that say you save up on rent don't take into account all the aspects of owning and renting. When you own a house it's yours, meaning that you can remodel, modify it, shape it as you like it, but when you rent it you have to maintain it and make it look the same as when you got it, which may be hard after 5 years of living in it. When you make it look better, improve it, you have to remember that this improvement will stay while you leave to live somewhere else. There's also a matter of being thrown out. The owner can always another plan for the house. He can divorce and be forced to sell and divide the property or give it away and you can't do anything about it. What about price appreciation of the property? When you own it you can sell it for more after 10 years, but when you rent it you will actually lose more money if the house gains value because the landlord will want more money for it. Renting is not that much better than buying.

I will rather get a home for that price than renting a house and save that amount for a period of ten years. My reasons are very simple and straightforward but others might have a contrary opinion to my reasons but this is based on where I live and the economy situation of my place overtime.

If I can get a house for that price today, I will gladly buy a house than rent because in 10 years time that house will not worth that price again and I would have to pay x10 of what I would have bought now in that 10 years time. In that 10years time, that same house would have also worth x10 of what I’ve bought it or let’s just say x8 since it won’t be a new house at the time. It is very clear that I would benefit more than buying a house rather than renting a house to save money.

The only reason why I prefer to buy a house is because my country doesn't have laws that favour tenants. Even in areas where these laws exist, they are hardly enforced. Landlords have so much power that they can even eject a tenant from his house without any court order. So I would prefer to own my own house to protect myself and my family. However, renting a house is cheaper for me in where I live currently.


Owning your own house gives comfort and freedom but you have to consider the expenses of maintaining a house which include repairs and tax. I heard that some countries charge high property tax which can consume someone's earnings. So in that case renting a house will be the best option. But if one has the money to cover these expenses, the best option will be to buy or build a house. The cost of owning a house is also expensive and most people might never afford it even with their lifetime savings.

This graph is really meaningless and does not reflect the actual reality of renting vs home ownership. Renting is definitely useful for certain people, especially those who are younger or need to be mobile when searching for work. Not being tied down to one geographic location is very useful and it is the only thing that certain groups can afford. Home ownership comes with it's own set of benefits and responsibilities however. You are ultimately paying off an asset each month and will end up with ownership of a very expensive asset at the end of it, you're not paying for someone elses house. There is also the inevitable debate about the ability to "make yourself at home" as many renters are restricted in what they can do, but sometimes benefit because the landlord may have to keep a certain level of upkeep for them.

Totally depends on where your home is located on, because there would really be those properties that doesnt really appreciate that much in terms of its value overtime but of course if its really that located on something on the city or nearby then you could really be able to assume out that its value will really be that having some appreciation and this is something which you would definitely be preferring into.
Also, i do agree on most points that if i were really that making up some choice then having my own home is really that better, not really just that for the sake of talking about aprreciation of value or
having that kind of savings then its really that totally different if you do live on a house on which you do know that you own it rather than on having that renting kind of condition but well it would be just a matter of preference in the end of the day.

If you have enough money, it is better to buy a house than rent it, even if you intend to live in the city for only a few months or years. Because buying a house is the same as investing. Meanwhile, if you decide to rent, in my opinion it will only cost you every month, especially if you intend to stay for a long time.

However, when you decide to buy a house, buy a house that is strategically located, because this allows the land and buildings you buy to increase in price. So this is quite a profitable investment, and even if you have no intention of selling it again when you leave and move to another city, then you can rent out the house to other people, and this will provide a profit for you every month.

And even if you don't have enough money to buy a house, if you intend to stay for a long period of time, rather than renting it, it is better for you to take out a home loan with low installments. Because when you rent, regardless of how long you rent it, the house still belongs to someone else. Meanwhile, when you decide to take credit, within a certain period the land and building will become your property.

As a smart person it would be wise to face half a building or a property that you own before you decide to rent. You can make the smart move of owning properties in places and locations where there are no property tax laws, and then rent in places where there are to avoid the laws.
Owning a property is an investment because whenever you decide to sell off the property you would still make a lot of gain because of the increase in the value of the land.

Actually in this case I agree with some people that in the end before deciding to choose the best between renting and buying, we need to look at the location that is indeed our current residence.
For some big cities in big countries maybe buying a house is difficult because the cost is indeed very difficult to reach so renting is a good option but in some other countries especially for countries that are underdeveloped or still in development then it will not be too applicable even though in the end rent will still be much cheaper but on the other hand for developing areas at least when we buy then we will get a situation where the house and the place we have becomes an investment as well just in case.

I now live in Indonesia but in an area that is still considered remote and underdeveloped and when choosing whether to rent or buy then I will serve to buy for the first option unless it is still difficult for us to buy then rent can be done while collecting money to buy because indeed as I said earlier this can be a good investment material especially for places and buildings that we buy in my country over time will be increasingly valuable and that I can feel from a few years ago until now the price is always increasing.

If someone is capable of owning houses in multiple places then I don't even think they will consider that paying property tax as a burden for them cause they are rich and they know how to cover those taxes with their business. Property taxes works different to countries as well but that's not really the point cause here OP is considering owning house for living which mean its liability not an asset in the means of technical knowledge I got in this field.

Location is indeed a major factor in considering this kind of decision. If you are staying in a highly urbanized areas, for sure, the prices are high. And that means, you will only rent on that place and not buy a property. But if you are seemingly in a remote area, high likely that that real estate properties are quite affordable. And you can justify buying one because it is not too hard from your pocket and besides, as you mentioned, the value of the property will further increase.

I have a few friends in America and they all told me that when you own a house, you still have to pay a monthly fee for it, so they prefer renting a house unless you are a millionaire. I also have some friends in Europe and they told me the same, it isn't worth buying a house if you are not a millionaire. If we keep in mind that when you buy a house, the house still needs maintenance and repairs often and you have to pay for it out of your pocket, then we can say that renting is a good option. It gives you flexibility which is a big bonus. If you need to move to another city or country, you can easily just rent a new house and don't have to worry about anything. The problem with the rent is that more than half of the time you work only to pay rent and when you own a house, you don't have that burden on your shoulders, owning a house gives you a calm mind.

Logically I'll wonder how I can afford to build or buy a house, instead I'll go ahead to rent, it doesn't make financial sense to me, unless I'm in an area where I'll be staying for a short period of time, even at that, I can still move and sale the house or put it on rent. Real estate is one of the best investments that anybody can go into, it's physical asset that appreciates as time goes on, so if you have the money to buy or build, it doesn't matter whether you're going to live in it or not, just have the property and someone else will rent it and pay you money.

Usually it is really that pertaining about real propery tax on which this is something that needs to be paid annually which do really sucks but if we do tend to see the amount then it isnt really that much.
This is why i dont really believe much about it to be an excuse for you to avoid on getting a house due to this very reason on which we know that this isnt something that could break your bank or would really be
that a huge amount for you to avoid on getting one. When it comes to amount or comparing and being that practical then we can say that having that renting will really be saving you up for long term in compared when building your own house on which we know that it wont come cheap. I dont know on whats the mindset of some people on why they do make out such consideration on making up such decision
but well we do have our own decisions in life on which we do seem that it would really be giving out that advantage to us on which its a common approach or decision that we do need up.

Actually this concept will be depends the term of goals. If you have a money now and would like to buy a house you can easily do it but of course, there's a lot of things need to be considered like the title, ownership transfer, other fees and etc. next is the house is ready to use now or you want to build on your own design and criteria but if you don't know yet you can rent at least so you have a shelter can be used while wondering about your house at low cost of course, people sometimes do the same thing they bought a land, rent for a while and get worked hard until their house finished. Of course most of us would like to have at least called their owned house.

Between buying or renting a house, i will rather prefer going for building one, when we put in the cost for buying a house, we will see the difference in building one for ourself that its more profitable for us to build than when we buy, also considering renting a house, i see it a bad idea but many couldn't afford building one, therefore they have to rent where they can leave in and survive through, until they have the capacity of building their own.

There's no reason to buy house, even you're already married and have a kids.

The housing price is ridiculously high recently, it's not worth it anymore. Even you have $500K which mean you can afford to buy house, but after you own it, now you will start from beginning to build your wealth.

But if you choose to rent, you can use the $500K to invest in Bitcoin, you only need to earn 10% which is $50K, you can use the $24K to pay your rent cost and re-invest the $26K. Actually your $26K isn't a profit, but it's only to hedge against inflation.

This might be true in some places but not everywhere. To be able to keep that "home" word in your mind at ease, you need your own house and not a rented one. Someone might want to RV their life out there in the USA but in developing countries this is out of the question, you will get robbed in the middle of the night on the streets.

Figures might show a lot of things but reality comes out to be much different. Consider being in a rented apartment when the pandemic had hit, your tenants could easily have kicked you out.

Dont forget that your house is also the one your kids are going to inherit as property. They might need it in future to live or sell.

I am a firm believer that you lose money when you rent a house especially if you consider it long-term.

The problem with renting is if you plan to stay in that house long-term, then it will definitely hurt your financials the more you stay there. If you plan to stay at a place for more than 8+ years, then it is better to really purchase the home instead of renting it.

In the Philippines, the average rent of condominium units is around $270-$350 per month on a studio unit. If you purchase a unit, it will probably cost you around $60,000 - $70,000 depending on the condo and its location. That is the reason on why your plan is essential in making a decision whether you want to rent or not.

You plan to stay temporarily in such area? Better rent;
You plan to stay at least permanently on that location or at least for a long time? Better purchase the lot/unit.

It's great that there's a calculator, but it's clearly just for the US market, right? I think the answer to buying vs renting depends strongly on where you live, whether you have access to a reasonable mortgage, and whether you can buy accommodation where you actually want to live/have work/have relatives or friends nearby.
My country has some of the highest mortgage interest rates in the world, and mortgages are generally uncommon, very restrictive, not very accessible. So when people buy, they usually save up enough to pay the whole sum, but that's only possible after working for, I don't know, 10+ years at a very high-paying job and ideally also having a partner in a similar situation with whom you're saving up together.
The rent, on the other hand, is very cheap in my country, and it's easy to find a place to rent (I mention it because I know it can be a huge challenge in some countries because they have a housing crisis). So an obvious and often the only real option is to rent, and then if you're planning to buy, you usually need to save up while renting.
But all that only applies to my country.

Yes, I agree we should consider how long do we plan to stay there, if it is the place where we want our kids or family to grow, then it is better to buy instead of renting out, at least it would be under your name, and you could renovate or redecorate it however you want.
Buying a house would also secure our place when we want to retire or start our own business.

If you aim to be profitable in the future, you should work on buying and owning a property even if it means paying responsibly your property tax. I guess buying a property comes with paying its tax accordingly. But you can always make a good returns out of your property if you decide to sell it in the future for a more expensive price. However, if you are not thinking on having good properties to provide an income years after, then it’s okay to stay renting. Renting is good as well and it can make you big savings after all.

If you are staying at the place for a long time or for a few years, then it’s just better that you easily buy a house instead of renting. When you are relocating from the place, you can easily sell the house, and I am sure you will be making your money back. It’s going to save you the amount that you will be spending on rent. If you can acquire a house without having any effect on you, then it’s better you do that, but if you don’t have the financial capacity, then it’s just better you rent an apartment, you don’t have to pressurize yourself.

I don't understand why you shouldn't buy with the help of a housing loan when you are already capable of paying it monthly. It's already a good opportunity assuming location and all other conditions are favorable to you. You have to deal with the interests and other financing costs but wouldn't that still be better than paying for something that you'll never own in the end?

Thats the point because in the end, one thing that definitely happens is because when a location becomes important in a price so most likely everywhere not only in one country when we live in the city, everything will be more expensive because there are several reasons to support why this happens such as easy accommodation that makes a plus that makes the value in the city higher in the end .

So in this case when talking about houses, especially with facilities that can be considered comfortable, it will certainly be very natural when we have to be smart in seeing the situation considering that buying and renting definitely have their own advantages and advantages so that all perspectives must be considered and I think that in the end it becomes one of the considerations whether we should buy or rent a house in the end .

It's all depends on your location, the country you are coming from and the kind of work you do. Things are very different from country to country, what is obtainable in your country could be something totally different in another country. Some people are not sure that they are residing in one state or country or location for more than 2 years. They keep traveling and moving from one state to another till the retire, that kind of person is not supposed to build a house until they are retired. Some people do not bother to leave properties for their children if they die because the government has a way to take care of everyone. In your country people live properties for their children and it appears that it is something that is compulsory and that is why you will advise everyone that has money to build even if and the long run they are losing because it will be an access to their children unborn. In conclusion I think this decision just fit well in the country you are and the amount they pay for rent and the amount that could be used to build a house.

Renting has also made out some possible considerations specially if its in connection to work on which if you do find out that the location of your work is too far from your own home then you would really be considering on having that renting out instead on creating one on which i could say that this would really be something relevant. There are really such conditions or situations or moments in life on which you would really be needing out to adjust because of these circumstances. If we do speak into other angle on which generally in torn to choose in between renting or owning a house then it would always falls down into someones interest if we do speak into this in regard. Renting could save up money practically in compared on having your own house to be built but we know that once those rentals having some issues or whatsoever then you would really be having the hassle to vacate into other places on which you would really be needing to adjust again in other places which it is really something that i dont like. Whereas, if you do have your own home then no one has
the rights on what you should gonna tell and also i do agree on some points that it is really that more convenient and cozy that you are sleeping on the house on which you do own.

If we ask buying a house or renting a house, which steps should we take? Of course, this all depends on our respective finances. If you have more money, buying a house is also important because a house is where we live in old age or for our children and grandchildren in the future. However, if our money is limited then renting a house is a good step.

If we have the money to buy a house, it's a good idea to just rent a house because by renting a house, the remaining money can be used for business so that it can generate income. So, from that income we can buy a house someday if we manage to collect the money without having to reduce the money we have for business.

Basically my advice, if you have the opportunity to do business, it's better not to buy a house yet. but if you don't understand how to do business, then invest in gold and bitcoin.

Not a financial advice but if you have the financial capability to buy or build yourself a house then this would be better. If the idea is to generate profit with a large amount of money, which is why others choose to rent, well price of a property continuously increases over the years. But if you don't have this stretch on your budget then of course renting would be a better alternative. Bottomline is long term and short term views. There are also rent to own properties which could be an option as well

But I do also like the idea of renting an apartment or house. If you're in an apartment, you could leave the house for a vacation and just advice the landlord to make you free of worries. Another is if you are having a bad neighborhood, you could just move to other rental properties. Lastly, since you will be having enough financial margin, you will have an edge to engage with investments and if it will be profitable, you could plan of purchasing a property of your own afterwards.

This is what I am thinking if I'll rent a house. It is going to the right place, my money is being paid off and the house will be mine even it is going to take a while. I don't mind getting such hardship through the period of time as long as I know that I can survive with that.
So with renting you get nothing and the landlord is still going to rent it out with another renter while getting the profit. Well, that's an investment, a passive income that they've also planned all along.

Buying could be more appropriate if you plan to keep the place for good, like you have future plans there for investment or businesses. But if you are just here for some vacation or business, I do think renting could save more your money than buying the house.

However, if you have all funds ready to buy so you can finally own it and come back any time, I guess that would be better also. Once the ownership belongs to you, you can do everything about it or even selling it in the future for a much better price.

There are many things one needs to consider before deciding on whether they should buy a home or keep renting. The first and foremost is of course whether you can afford to buy a house or not because there is no question that if you don't have the funds to buy a house, you will have to rent out a place to live your life if you don't earn enough to pay the mortgage and you don't have enough savings to buy a house, no other option in this case.

But in case, a person thinks they have enough funds to be able to buy a house, they need to think of what their plan for the future is, whether they want to spend the rest of their life in that location and want their family and extended family to live their lives there as well, then they should go for it because your own house will have more advantages and it is not always about money. But if someone plans to move somewhere else in the future, there is no point in buying a house unless they know the market and think they can earn some profit if they buy one now and sell it later.

 I will prefer buying of the house, it those not matter if you are living there the rest of your lives or not, buying of the house seem better to me because if you are to buy the house you can easily come back anytime you want, even if you rent it out before 20years you most have made a lot of profit from it so any ways buying the house is more advisable

In my opinion, if I had the capacity to buy a house I would. Instead of renting out a very expensive one, I’ll just buy one for myself at least I do not have to worry about the lease every month. Plus, I think it would be a good investment

Real estate just becomes more and more expensive over time so I know I can sell my house when I need to move for a higher price than the one I got it for.

Buying a house will be a good investment for the future if you have the financial ability to claim the house as yours. Renting is only limited to temporary ownership as long as the rental period is still active, after that you will spend more money to extend the rental period. Of course everyone will choose the option of buying rather than renting, apart from being able to increase investment assets for the future, you also no longer need to worry about where to live. Buying is more economical than renting, even though you will spend a lot of money buying it, this amount is more economical than renting it.

It’s better to buy a home than rent but it depends on your circumstances. If you’re working in a city you don’t plan to be for too long then renting is fine. In normal circumstances though I think it’s better to buy because eventually you will own the house with no mortgage payments & your cost of living will be pretty cheap. If you don’t buy, will your pension be enough to pay ever increasing rent when you retire?

I guess the ideal thing would be just renting place or an apartment for the sake of work so that we don't commute too long and get tired when we get home and then save whatever money left for retirement and buy a house in the country side since we all know that buying home in a city is just not a truly good option anymore, the housing price sky rocketed, the average people couldn't afford a small house but we can still afford home in country side or rather to be frank remote country side where we gonna be far away for the facilities, too unfortunate but the housing price force to, even that plan is with big requirement that we have enough salary to cover for rent and still have many left to save up and to buy foods.
since from the news rents nowaday take up 70% of our salary its already ridiculous seeing from the perspective of someone who want to build wealth its just not possible anymore owning property through being an employee unless working in FAANG which known to be rather magnanimous with the salary or fortune 100 companies otherwise owning property is just a dream.

In the country where I come from, if people have enough money, they preferred to buy a home. When someone doesn't have enough money here, they will rent a home and live there for several years but if they have money to buy their home they will. The reason is because they believe it's better to live in your personal owned home because you can do what ever you please. If it is a rented apartment, the owner have the right to ask you to leave if there is any issues between the both of you.

One thing about people from my country is that, we also want to buy or build a house that our kids can own to their self after we have passed on. There are many reasons why people in my country wants to personally own their home.

That's one of the main reasons why a person should have a home of his own. Renting might be okay, you don't need to spend a lot of money and you can get a house to live in even if you are not earning a lot of money, but the problems that one faces when renting a house must be considered as well.

What if you lose your job, and don't manage to get a new job very soon? Some landlords might be good and give you some time to pay the rent, may wait for another month so that you can earn some money and pay the previous dues as well, but some wouldn't do that, they would ask you to evacuate and shift somewhere else, and that is one of the worst things to do if you ask me.

Let's take every circumstances into account first, If you are financially buoyant, and have a business I would rather go for renting a house rather than Buying a house beacuse at some point the house you are living are going to be needing some maintenance, such as painting keeping the compound clean, fixing plumbing works, huge electricity bills Beacuse you own the place, so isn't gonna be shared with anyone which happens in a rented apartment and reduces the cost, secondly at some point in life a place becomes so bored for us to live when we spend so much time in that area,  So I rather use the money buy house that I will use for running of business such as hotel or a bar.

I agree, if I had the money to buy a house outright or start a business, I would prefer to start the business, real estate is severely overpriced all over the world, and it would not surprise me if another crisis related to it brought the whole world economy down once again, besides I do not like the idea of having most of my wealth tied to a piece of land that I cannot bring with me in the case I have to leave in a hurry, a thing that I love about bitcoin as you can move it all over the world with you and no one will know what you are doing.

When you do have some money being saved then if you are someone who is projecting some good goals and plans about being that successful person then you would be  thinking on trying to make those amounts to grow or simply would be finding some income flow or stream of profits on which you do know that it wont really be that a problem on the moment that you would be finding yourself on such condition
in speaking about stability or sustainance on speaking about income. On the moment that you had achieved such condition or state then you wont be able to find yourself having no problems and could be able to buy or build your own house without any financial problems just because you had already saved enough. This is why those people who do have those kind of plans will eventually be saving up that money and would be making use of those on investing or building up some business first or trying to make it roll.

This matter basically depends on the person whether he buys or rents the house. If one buys a house he can undoubtedly own a fixed asset. Buying a home does not require a person to spend the same amount of money that they would have to spend on renting a home. If we consider it from the investment side ‍a person needs lots of money to buy a house. If he doesn't spend that money on a house instead of investing in bitcoins and spends some money on home improvements, he can buy another house in the next few years. The investment is suitable for those who have relatively less money.

Nobody wants to live on rent but most of the people cannot afford to buy their own homes that's why the only way to live is to accept houses on rent. Buying a home requires more money at once while renting requires a minimum amount on a monthly basis although the amount needed for rent is more if we compared it with buying a house because we live on a rent until we buy our own house but accumulated money is not present with every person to bear the burden of buying a house.

It is all about the affordability that we will live on that source which we can easily afford. In previous age people were living together but now every single individual wants to live an independent life in another house so a single family needs lots of space to live a satisfied life and the whole family cannot live together in present age so they will mist choose a renting house for spending their life.

Of course, it will depend on several things that influence someone to decide or decide to buy a house or rent a home temporarily.

1. Money
Money is the main reason why someone decides to buy or rent a house, if they have enough money and it meets the criteria for the house they want, it would be better for me to buy a house immediately, because the further you get here, the more the property price will rise. However, if you don't have enough money, it can't be helped, renting a house might be an option. There are indeed ways to buy a house using a credit system or a loan from a bank, but not everyone wants to do it or not everyone can do it and is approved to do it for several reasons.

2. Period of residence in the current area of residence
So, the period for how long you will occupy your current domicile will also have an influence. If it's possible that it won't take long, it's better to rent a house first rather than having to bother taking care of other things to buy a house in another place.

Personally, buying a house is actually one of my main targets besides a vehicle because it is for the benefit of the family. If you have settled down, the money is ready, and there is a house that is really suitable and the environment is suitable for us, then that will be my reason to buy it immediately.

That's right, the best moment to buy a house is when you really have decided to live long term in an area, if not then renting is the only wise way, I'm currently still renting a house, because it's still a small family that belongs to me, I had a long discussion with my partner and we both agreed to buy a house when we had decided to stay long term in an area and our children were adults, so that when they went abroad, we didn't feel burdened, the point is, don't force yourself to buy a house when the money you have can only afford renting at the moment.

Buying and renting a home involves many considerations, including your current location, social amenities, family status, job, and many more. 

When we are talking about location, it depends on the country that you are in because in some countries, you, as the owner of a house, most likely pay a tax to the government, while in other countries, it doesn’t work like that. So, if you are in the country where, as the owner, you most likely pay a tax, renting a house will be better because you won’t pay that tax, and it will save you a lot of money. 

I know many will be wondering why I brought social amenities. Yes, that is also included because if you are buying a house, that definitely means you are reliable to stay there for a long period of time, which is why the social amenities that are available within that location should be considered when buying, but when renting, you don’t need to consider that much because you can leave any time you wish to. 

Family status is simple: are you a parent or not? Because if you are a parent, leaving a rented apartment is not always recommended because you can leave at any time, and frequent changes in the environment for the children can make him adopt many behaviours and lifestyles that might affect him positively or negatively. 

You’re right there. Renting could be the best option if you still don’t have the means to buy, or if you want to reserve your funds for other purposes like building a business or investment first and when it profits, buying a house will be one of your goals. However, not all investments come into flourish and progress that you might end up with a wrong investment and lose all your funds. The reason why some who have all the means to buy prioritized buying their own house first before they will try to engage in investments where risks are inevitable.

      Not all people are capable of buying a house when they will use spot cash to pay it in full right away. Because many people, especially regular employees, are not capable of paying it in full, they go into housing loans held by government agencies in a program they hold, even in the private sector, where the interest is just too high.

     That's why the others just save for a few years, then they look for a rental house that they can't afford to pay monthly. This usually happens in our country because if you go directly to the housing loan, there are too many requirements. then the strictness of the policy and rules. So most have no choice but to rent anyway.

Just renting might be much convenient. Although I would argue it could depend on how or what the housing situation is in your country. If it’s much cheaper to just rent and there is not much houses to build anyway then just rent. I think it’s also convenient in a way that when I want to move out, it would be a lot easier than having a whole house to my name and not being able to move out at any time I want to.

Buying a house might be expensive but I think that no matter what, it will always be your best option, because with renting, you can always expect to get evicted out of nowhere especially if you've got a landlord that's stupid and a leech, you will never be able to rest easy because you're going to find that you will always need money to cover for it or you'll end up losing that house and you don't want that, renting a house is only good for the short-term so make sure that it's going to be that you're still saving your money to buy a house, pretty sure that there are housing loans in your country, that's a good way to jumpstart your home ownership.

In my opinion, in this case it really depends on a person's income, if they have sufficient sources of income of course they will prefer to buy it compared to renting it, because if we rent a house then every year we have to prepare costs. to rent a house, but if the life we live If we don't live in one place of course we have to choose to rent it, as you said, so that it is easier when we want to move and don't have to think about what will happen to the house we leave if we bought the house.

If we are wrong in choosing the house we rent, of course we will feel what you say and it could be that the house we rent will increase the rental price because they don't want us to live in their house anymore and I agree. with you, if we rent a house in time to prepare ourselves so that we are ready to buy the house because if we continue to rent it it will certainly be very troublesome when we want to extend the lease, the home owner can increase the rental price if within reasonable limits it is not a problem, but if the price what is being offered is unreasonable, of course we have to look for another house that we can rent at a price according to the money we have.

Basically property tax is nothing if you compare it to the rent, and when you are renting you should compare the rent price to loan you would have to pay. In a world where you need to pay 1100 dollars per month for mortgage, and about 100 per month on tax, that means 1.2k, if you are paying 2k on rent right now, that means that getting the home is a lot better and would make more sense.

However, once again, that all depends on if you can't use the money on something else that would make you even more money, if you could make even more money then I would say use it for something else and get rich, however if this is the best way to use your money then I would say it still makes sense because you are saving and still have an asset to show.

Having your own house is like a long term investment because as the time goes by, the value of a land appreciates just like in gold, so if you're having enough fund to use for downpayment of the land then go, you can have a housing loan with small interest and offers small monthly ammortization, in that way, you will exert an effort to work hard or to find additional income so that you will be having a money for your monthly bills and your money goes to your own property.

Not necessarily. The price of house and land appreciates when there's an increasing demand. When the demand starts to decrease, the price would keep getting lower. The increase in demand till date has been due to the rapidly increasing population. As we move towards platue and eventual downfall, the price of land and house would start to decrease.
It can already be seen on countries that have a decreasing population. There recently have been a real estate crash in China. The price of land and house in Korea and japan are mostly on decrease with exception to a few cities. The same can be seen on most European nations. The price in large cities still holds while on smaller towns, they have started to decrease.

Europe
https://www.ft.com/content/fbdb5271-c35c-40cd-b301-eed9d7c6f57a
China
https://www.reuters.com/world/china/chinas-new-home-prices-decline-fastest-pace-since-2015-2024-04-16/

Not only that, of course this also depends on each of our own perceptions, because I think there are people who think it is better to buy than rent and have to pay every month. because I think they must be unhappy with having payments that might be an additional burden for them, because every month they are guaranteed to pay their electricity and water bills, and there are people who have financial problems so they can't. pay the bill.

Maybe some people will save consistently to be able to get what they want. I myself would rather buy than rent, even though I have enough income to pay all the bills including the house rent if I rent a house, but I won't do it, because I think it's better to have a house that you really own. we alone. but indeed, for those who are more comfortable with renting, it is not a problem because it is their individual right.

This is where the whole issue lies. It's not just about having money to build house or rent an apartment, the situation at a time plays an important role in your decision making in case like this. No one would be interested to be paying for a rent when they are capable to buy and own a house but the situation might force you to go for the renting instead of buying. Some jobs are the type that reshuffle their staffs often and as an employee, you can not be buying house in every place that you have been transferred to even if you have the money to buy one. In a situation like that, renting will definitely be your best choice in order to save cost. Buying a house if you have the measn can only be favorable when you are sure of your longevity in a particular place.


It's not just about making a choice, it's all about having means to make a choice. Everyone will definitely go for buying if it's that easier. Paying bills is a must in whatever category you belong either as a house owner or a tenant so that should not be an issue. I don't think it is the wish of every tenant to continue paying for house rent but we should realize that not everyone is capable of buying a house. A two or three years rent money can not afford to buy a house.

Op, this comparison does not align in my opinion, it is suppose to be buying a house and building a house.

The right move in this case won't be the same for every individuals. It's all about your personal cronogram, objectives and perspectives. Renting isn't that bad considering a scenario where you are going to start an investment in Bitcoin meanwhile, right before a bull run starts. So with the profit made with your BTC investment, maybe you can acquire two houses instead of buying only one if you didn't decide to invest in Bitcoin.

What I would like to point, though, is that in most cases it will be always interesting to go for buying houses on long run, even if in the present moment it looks more interesting to rent one (for different reasons you might have in mind). By purchasing your own house, besides not being necessary to pay a monthly expense anymore (rent), you can also start making an income from it by renting your house to others, what means extra income.

Renting can be a good outlet to save you from huge expenses at the current, but if we are considering long term saving here, buying a home could be more advisable. You won’t imagine yourself renting a home forever, that’s even a waste of time and money, although not totally wasted since you also get to benefit the unit. But if you have the funds ready to buy, I don’t see any reason why you’ll turn it complicated. Buying a house is an asset, most especially if you plan it to be your source of sustainable income in the long run, or your retirement home.

Renting is best for sub five years because of all the legal fees to take on a property and the debt that goes with it.   Buying is best for 10 years or more if you are quite happy to stay in one place that long its the best to purchase gradually though not as cheap as it might appear to begin with its still cheaper then renting almost always.


Some of the best renting deals I got were including local taxes and water rates within the rent.  Those are two of the largest bills a home owner will have to pay every year on top of the property cost and finance itself.

    Also usually renting works where the area is not popular or you are able to provide a steady income to someone who doesn't want to worry about bad tenants.   In some cases rent from private landlords can be cheaper if they feel secure in your circumstances being ideal for their house, a good track record etc.

The decision starts from your financial status initially,renting can be cheaper than buying a new house or an apartment.However,the financial benefits of buying a house can also be a relief.For those that just got married recently,it very important to ask yourself questions before you take a final decision,because the decision between renting and buying depends on finances,your lifestyle and future plans.

Most of all,having/buying a home is Equally necessary especially when you're financially capable.Life becomes sweeter when you're able to meet up with certain lifestyles.From when you're single,getting married,and for those with young children putting down some of the risks that would be involved.

Buying is the best move, renting isn't going to get you anywhere, I mean what happens to that apartment or house that you're renting when you're out of job or you don't have a job anymore or you're retired? Pretty sure that the landlord wouldn't really mind evicting you out of the apartment, it's probably for the same reason that you'd want to struggle with paying for your own house rather than renting because then you'd own something that yours and at the end of the day, you will be thankful that you did struggle because you will leave something behind for your kids if you've got any, what matters in terms of shelter is the permanence.

Buying a house is better than renting a house if you want to live in a place permanently. Especially the people of the village they live there permanently for which they buy or build houses there. Moreover, I find renting a house inconvenient because if you rent a house, the monthly salary you have to pay to live in that house will not be the same every year, the rent will increase every year. Due to which you may face financial problems later.

Those who have enough money buy the house according to their choice because it will be their own so they are dependent on others i.e. they don't want to rent other's house. And those who are government employees change their place every few years for which they never want to buy a house they just want to renting the house.

For convenience, of course buying a house is an option because we no longer need to set aside money to pay rent, but it also really depends on a person's financial capabilities. If it turns out that their income is not sufficient to buy, of course it is better to continue renting because buying through a bank loan is not a safe thing, because with the economic conditions in every country are as uncertain as today, we can lose our jobs at any time and end up not being able to pay bank installments, so you could lose the house and end up renting again, and actually there are many factors that we have to consider before deciding to buy or just rent.

Everything really depends on our money, I think most people want to buy a house for reasons for their own future in old age and also for their family such as children or grandchildren and the problem for people who haven't bought a house is because they don't have enough money so they choose to rent.

To advance a business, maybe that's quite good, but to start a new business, I don't agree with that statement because it's full of risks, so there's the possibility of losing everything.
I think we can use all the money we have depending on the priorities we set and I think money to buy a house will be different from other money because it is included in the main priority in life.

For young people, this is good advice, but not for people who are older and have families.
A man is responsible for providing a place to stay for his family so for future it is better to buy a house even if it is small in size.

The right steps and choices really depend on your own interests. I'm not at all interested in renting a house and tend to be more interested in building it myself from scratch. It doesn't take $500k to build a luxury house in my country, just $20k - $40k is enough to comfortably live in the long term.

Renting a house tends to be wise for anyone whose job forces them to move around. If they have a permanent job, then it may be wise to own their own home well that's with buying or building it from scratch. So in conclusion, I think everyone has their reasons for buying, renting or building their own house, it all really depends on interests, work or other things that are taken into consideration.

IMO, if you have a lot of money to buy a house, then I recommend buying a house. This is because it is also an investment, and can be used for your future descendants. In fact, you can still sell it in the future at a possibly higher price. There are many advantages to owning a house, and you don't have to think about paying rent every month. This will be felt when you are old. If you can't afford to buy a house, then for now the only way is to rent a house. However, the worst thing about renting a house continuously is, when you don't have a job and can't pay the rent, then you have to leave the house.

Even if your job requires you to travel a lot, at the end of your life you still need to rest, you cannot work until you die. Besides, what will happen to your family and children if you cannot own a house and move around all your life? Therefore, I think that owning a house always has advantages and advantages in the long run. People who use the excuse of having to move frequently for work are those who do not have a family and do not have enough money to own a real house.

Not to mention, even if you have to travel a lot for work, if you own a house, you can also rent it out to create a source of passive income. There are so many benefits for those who own homes and real estate.

There is nothing bad in buying a house or renting it, doing both, your plan and purpose for doing such matters. At times, you may not have the money to get the kind of house you want to buy, in this case, surely, you will not sleep outside or do any magic, you will have to be patient for a while until you are financially stronger enough to buy a house. In some cases, it could be a situation of relocation where you can't immediately settle for the buying of the house, and of course, you will have to rent.

Again, there are some people who have bought or built houses at some disadvantaged location, they do not have a choice, and they might still opt to rent a house for the time being. If they calculate the proximity-caused issues like the convenience of getting to work, resources to be wasted due to and fro daily, and safety, they would surely resort to renting a house in most cases. So, the two are no big deal, as safety, purpose, plan and convenience are key here.

Home is an asset and most people would prefer to have their own home. It will disclose his identity and citizenship and can get a certain amount of house rent per month from the house if he has a spare room or apartment in addition to his residence.
I haven't built or bought a house yet because I haven't raised enough money to buy or build one. So financial consistency is a very important factor in deciding whether to buy or rent a home. Those who can buy a house must show interest in buying a house otherwise, they will be helpless and live in a rented house like me.

It would really be something that will be depending into someones needs and preference because there are really people who are really that loving on having their own home and there are ones who do love to rent due to various reasons like the location of their job and something that do talks about practicality.It would really be just that depending on how well you would really be that making yourself that goes with your preference.
When it comes to savings then it would really be something that renting would be saving you up rather than on having that your own house. It would really be that situational and just like been said it would really be affected with several factors on which we know that this could really affect your decision making.

For me on which having your own house will definitely give out that kind of peace of mind and having that confidence since you are living on your own house which you wont really be needing to pay up some rent
but still you would really be needing to pay up those monthly amortization on which this is where people would be that skeptical on making up decisions because they dont really like for these things to be happening because they dont have the money or having not have the plans on paying up big for a long term amort on which i do really that seeing this stuff on where people do come into a point or consider
about speaking with practicality but of course it would really be still that depending on someones preference.

I do not deny that whether to rent or buy a house will depend on each person such as the nature of the job and many other factors. But like I said , I don't think long-term renting is more economical than owning a house. Personally, I lived in a rented house for more than 10 years while working away from home and I found that with that 10 years' rent , I was able to own a small house in my hometown. But because the economic conditions at that time were quite difficult, I could not buy a house and had to rent a house . If at that time I have enough money to buy a house and return to my hometown after quitting my job , I will even make a large profit from that house by renting or selling that house . That's why I disagree when people say renting a house is more economical than owning a house.

Having your own house is indeed the dream of many people, because by having your own house we have a place to rest after a long day of work because if we have comfort in resting it will certainly make us enthusiastic about doing our work and of course this will give us the opportunity to earn income. that we can invest in, as you said by having a house that we can rent out and this will give us additional income too.
If you can't afford to buy or build a house, of course you have to be more active in looking for work that gives you a decent income and you can save to buy a house, because by renting a house of course we have to always prepare funds when the house we rent is ready. until it's time to pay.

Both are dependent on ability. To buy a house, you need a large amount of money. Which is not possible for many. But if you can buy your own house, it is definitely better. Then a person has his own residence. Many people have income but do not have the opportunity to save.  Rent stays at home.  It's not bad either. But renting someone else's house is not so convenient. Here you will have to pay for everything.

I decided for myself that I would most of all like to have my own private house. Yes, it's expensive, but it's cool. It's your own plot, with a terrace, where you feel most comfortable. No one comes and dictates how you live. It's a thrill.

On the moment that you would be buying your own house then it would be a one time big time payment specially if its cash purchased but that would only stop on there and next of that then you would be that free of monthly payment or wont really be having that responsibility on paying up something but we do know that not all people would be having that finances that they could afford their own house.
If you do then you are lucky or consider yourself on a good position because building one doesn't come cheap and only a few could be having that capability on doing so. We are all hoping and wanting on having our own home but there are really indeed instances that due to lack of funds or cant be able to afford then we would be ending up on renting out. Just like on what Fatunad said above that it will really be situational
basing up on what are the condition that you are into. If you do find that you could save up money on renting or really that near on your workplace then it would be common sense that you will be renting instead on making some commute specially if your home is really that too far. It would be impossible that you cant be able to assess yourself on what are the things that you should gonna do and stick out on where you could be able to save more.

One of the first goals of many people is to find a job and then save money to become a homeowner. It can be difficult to realize this desire in times when economies are so bad and inflation is increasing day by day. Improving economic conditions and making savings is no longer as easy as it used to be. It's important to keep trying because the economy can change. Your economy, which is bad today, may be good tomorrow. What matters is the work you do to improve your economy.

The topic title asks what the right action is. The general answer to this question is to buy a house, but some people can use the money they will use to buy a house in different businesses and increase their income. It's partly about where we are and our plans.

There used to be a difference of opinion regarding owning a home and renting a home. In a simple calculation, a person living 65 years of age on average spends $50k paying rent, which is based on the minimum rent spending in my country. For the same amount, it is possible to construct a good home for a family. The difference is with the spending. During construction or owning, we spend as a whole or go for a loan and pay interest, whereas on renting, we'll just pay little by little. After the death of the father, other members of the family were able to use the home. In a family, if the family is depending on the father for the rent and something happens and they lose him, what will be the situation of the family members?

I don't have much idea how people from other countries consider owning a home. In my country, it is much more connected to emotions. The same makes them prioritize owning a home over seeing it as a form of investment. For that reason, more than 90% of the population prefers to own a home to rent one.

     There are only two types of people: those who are capable of buying a house and those who are not yet capable of buying a house. Of course, if you are capable, you have a stable income that can afford your own house, either through a housing loan or cash to buy your own house.

     There is a stable income, but it is not enough to pay cash for a house that can be called our own, so the failure is to rent a house, but it is used as a stepping stone to save to apply for a house loan for a few years, as long as you don't just be a spendthrift on things that are not that important.

It depends on your needs, if you want to stay it's better to buy because the benefits are long-term, but if it's only temporary (for example because of work) renting is better because it's only temporary. in my area building a decent house costs around $20k (not including land) and if the rent is around $50 (depending on the condition of the house).

it is absolutely true that even if a person has a job that requires him to travel a lot, at least he must have a permanent home where he can safely place his belongings or those of his family. because it will definitely be very complicated when he has to move his things again when he is in a different city every month, especially when he has children, his children need a permanent home which allows him to go to school or have friends for longer.

I better prefer owning a van instead buying house. The worst thing about renting is the uncertainty. The landlord can just raise your rent and you have no choice but to pay or leave.

From the experience gotten it will be far better to have your own house than renting for a lot of reason, might not be importantly because of citizenship and identity but to reduce expenditure, and believe no matter all the comfort that the house may come with it will never be the same with staying in your own house. Because staying in a rented apartment you have limitations to what you can do, and if you over pass your boundary you might even get summoned by the landlord for violating their rental agreement. And they keep inflating the price of house and the more the prices are going up the more people are finding it difficult to be able to afford a good house with good facilities.

Either building or buying a house is as expensive as hell, it’s not something you can easily access. Because even getting a loan to build a house or buy is the same time not easy, especially in developing countries that things are falling apart every single day. The system is failing, and since you have not raised enough it will be better to start saving towards building or buying. The whole challenge is having money to buy or build, it something that is very possible to archive. Plan and you can even invest the money and eventually when business starts doing well then you can buy or build then you should have gathered enough money to get your dream house. Rely on a job won’t get us any were as it is so we need to put serious effort in planning, you might even have the intention of you want to get a house but dedication in your plans will be the best.

What? I am confused.

You’d rather live in your van than have your own house? That’s quite concerning mate. Have you ever lived in your car? It would be extremely uncomfortable, inconvenient and not to mention quite dangerous. You won’t be really saving any money that way.
That is true but the prices should be reasonable for every landlord.

There are advantages still with renting and that depends on your goal and job. While owning a van is also what I am seeing for some people and this becomes a trend, this isn't applicable to those that are needed to their field jobs.

Those that afford to live a van life have saved their money and have a remote job. This is good for the modern and first world countries. But if you are living in a 3rd world country, you may have problem access to public bathrooms and other necessities that you have.

If I have to choose, I like to go on an adventure in van and live there but if the time comes that my kid needs to study, I'd prefer to go back to old living because I prefer face to face schooling than online for my kid/s.

Personally, I also prefer to buy a house, but only if it is within my means. However, if we don't have much finances, the alternative is to rent a place to live, such as an apartment or a cheap house. With this you can stay temporarily and collect money to buy a house in the future. I think having your own house has many advantages, especially if you choose a strategic location.

The van could get in an accident though. There are much more car accidents than home-related incidents and also, van life is really only viable if you're by yourself.

Maybe if you had a larger van you could do two people, but anything greater than that, just buy an RV or start renting.

(I haven't heard of people in third-world countries living in vans, though. In fact it is more likely for people to have an apartment or something but no vehicle.)

I believe the real desire is to stop paying rent/ mortgages and being able to drive where you want, when you want doing what you want after quitting the job. My life includes a van and a small house, one supports other. ain't find any discomforts when travelling while in van or living in a van. I think the biggest issue while in van is only when you park too long in a spot, it attracts attention and that is when people will look into the window. They want to know if you are upto no good and your reason for being in the same spot for a too long.

well camping van is comfortable to some extent but yeah not really a good thing to do for long term, its just unsanitary as the time goes. also your statement is right, the money saved not even worth the convenience, also sometime living in van can be more expensive by some reasons.
landlords are indeed annoying, but in the other hand if they up the rent prices we can just look else where, if some people are so afraid of an asshole landlord then we need to accept the burden of high housing prices.
there's no work around to this, either rent or buy a house, thats why investing and upping our income is the key, couldn't go wrong with these two.
even at the difficult economy, we still gonna be avoided of many trouble that about to come if we have saving and high income.

I do not deny that whether to rent or buy a house will depend on each person such as the nature of the job and many other factors. But like I said , I don't think long-term renting is more economical than owning a house. Personally, I lived in a rented house for more than 10 years while working away from home and I found that with that 10 years' rent , I was able to own a small house in my hometown. But because the economic conditions at that time were quite difficult, I could not buy a house and had to rent a house . If at that time I have enough money to buy a house and return to my hometown after quitting my job , I will even make a large profit from that house by renting or selling that house . That's why I disagree when people say renting a house is more economical than owning a house.

Absolutely right but the matters is if someone wants to invest in rental properties I will suggest him to buy rental house because it will give him fare on the monthly basis. If someone is living in city area ,he have to take a room or house on rent because where it will be very difficult for him to house on that place but he can enjoy city life . In cities,there are more opportunities of jobs and one can earn easily and can live happy life. In the villages, there are no or less opportunities of job and there is less comfort than in city areas. If someone is living in village area ,he should buy the house because there property prices will be low and with time the price of house will increase and will be double or triple in 10 years and that will be good investment for village boy.

That everyone wants a home is excellent. The market fluctuates. Avoid being surprised and overextending yourself to buy anything when the moment is wrong. Renting plays the long game, not fails. You have time to develop a solid financial foundation so you're not scraping by when you buy. A thoughtful, deliberate move

Think about someone who bought a house in a terrible neighborhood or couldn't afford it. The house is theirs, but is it a win? They face long commutes, hazards, and hidden costs. That wastes time and money. Smart tenants live better lives by renting closer to their needs. You should optimize your resources, not merely own anything

Real estate isn't only renting or buying. Your life and ambitions should guide your decisions. Waste reduction and resource optimization are key. Being wise, thoughtful, and strategic and avoiding hype are key

It all depends on your location and how long you plan to stay there. 

You can't travel for school and buy a house; it's always necessary to rent because you have just a period of time to stay there.

But in the case of planning to set a standard and starting a family, if you have the money, I believe you should buy a house already. Relax with your family and keep going.

This really reminds me of one of my bosses; this woman was living in a good house but not in a in a luxury apartment. But when she got a very big contract, she rented a house worth millions of naira in the same town where she has been living. To be honest, I find this not reasonable because why rent such a house when you can actually buy your own house and leave without thinking of rent?

It's better to buy in such a situation than to rent. 

Actually I often watch videos about this comparison between “Buying a house or Renting a house” this depends on each person's wishes and their financial strength of course by buying it must have a lot of money while renting you don't need to pay more expensive like buying.

Experts say buying a house is better because it will be owned and passed on to your children later.
Others say it's better to rent than buy because you don't have to worry about maintenance or anything like that and it's better than buying.

But in principle I would rather buy because what I own will be passed on to my children.

When it comes to real estate business then it is something that you would be making yourself that getting rich or wealthy. The main issue on here is that on the capital that you would really be using since it doesnt really come that cheap or would really be that something that too expensive kind of business. It is really that something which is really that significant considering that rental business is really that still in demand specially if the said property is really that placed or located on a strategic location on which it will really be that normal that it is something that been seek on with those renters.
On the renters perspective then it would really be that true that you could really be able to save up for you to rent rather on paying up monthly amortization if ever you would be getting some home loan.
If you are someone who arent sure that you could pay up those things in long term then you would definitely be opting in for renting on which it will be your viable choice of course.

To be able to buy a house, of course this will really depend on a person's income and also the way a person manages their money and if someone with the same income cannot buy a house and a different person can buy a house, of course they have a different way of managing their finances from others. Even though they both have the same income, what differentiates them is financial management.

Due to the difficult economy, of course this will make someone have to save a lot if they really want to own a house. As you said, it is very true that renting a house is not the right choice if we continue to rent in the long term and I am very sure that the house we rent will continue to increase. rental prices and this will burden us, but due to difficult economic conditions there are no other options that we can do and we have to rent because we need a place to live.

For every situation, we need to find a solution and because of high cost of housing and their monthly mortgage wherever you are living right now. Renting is the solution of it, it may sound hard to pay that obligation but that's the cost of it. We understand that the house won't belong to us in the long term but you should also plan your way out so that you've got something to own when the right time comes that you are prepared and have enough budget to own one.

People are forced to just rent rather than own a house because of these things...
 - nature of work, no permanent workplace
 - location from the city
 - financial capabilities

Honestly, it is quite expensive now to own a house which could be not a good option unless we already have a stable financial income that is enough to support. In fact, governments and banks offered housing loans but as I can see, only a few take the offer while the majority choose to rent.

But I don't think a big deal and accept the fact that not all are born rich and can easily get what they want to happen in their life.
 

In my own opinion, if I have enough money,I prefer buying a house than renting a house which i will be paying house rent whenever my rent expired instead of just owning the house and forget about house rents and that will even safe me from much thinking and save me from spending much, because if we calculate the money we spent in paying house rent, we would even use it to buy or build our own house, also if we own our house, we will live as we want, so comfortably without the fear of landlord or landlady, and we don't even have to pay for any bills, it will save us from a lot of costs and that is why I prefer owning a house.

“Financial capabilities ” is the biggest barrier that causes many people to rent a house, so I don't believe it when someone says they prefer renting to owning a house. Because owning a house brings many benefits, not only can we live in it but we can also generate passive income from it just like if someone rents the house to us.

Many people use the reason that their job requires them to move frequently so they don't want to buy a house and renting a house is more convenient. That's just a reason for people who can't afford to buy a house, because like I said, we can make passive income from it, I don't think anyone criticizes passive income.

Renting a house or buying a house, financial capabilities will be the deciding factor, there is no second reason that is more reasonable.

Most of the people are building houses and then giving them rent to earn good cash on a monthly basis but everyone cannot afford to do this because it requires lots of money. There are people with different financial systems like some who want to have their own house but cannot build due to lack of money and are living in rent while others have their own house as well as extra apartments which they have given to others to get rent in return.

Nowadays earning money has become difficult but people are working online as well as investing online so they have created another way to earn money instead of having their regular jobs. This can help them to build their own houses as well as invest in something beneficial which can provide them return whenever the worth of their investment increases.

In as much as buying a house as an independent individual look more enticing,  you can't deny the fact that their are so many factors that makes it even more complicating than renting an apartment, and one of the major challenges of buying a house is the cost, not every individual have the capacity financially to buy a house, but if it's renting am apartment, even the man with an average salary can afford it.

Another thing that makes even the rich that can afford owning their own house prefer renting in most cases is the location, in my country, their is an area called banana island, it's where the best house are located, almost all of the house there are being rented by the rich, because it doesn't just have the best house, but it also has the best environment, since the estate is by the sea side, and to be frank, you can't afford renting a house there if you are not rich, because rent there is very expensive.

So It all  depends on what you really want as a person, because you might own a house of your own, but due to the environment is not that ok for you as a person, base on the fact that owning a house in your desired location is out of your reach, you might rent an apartment there for your own use, while giving out the one you own for rent, so the decision of renting and buy a house depends on some  factors, like financial capacity, location and the desire of the person.

Usually if you rent you lose more in the long run. I'll give you an example of my friend who moved to another city. He started renting an apartment with his girlfriend because they wren't married yet, didn't know if they would be together in a year or two, so they didn't want to share a property, but sharing a rent carries no risk.
After getting married 2 years later they found out they could get a loan together and the installment would be only 10% higher than the rent, but they'd be paying off their own home and after 15 years it would belong to them, while the rented apartment after 15 years would still belong to the landlord.