Rent or buy real estate - let's have a debate

[Twentyonepaylots]

I would rather rent a house than take out a loan through a mortgage. Renting allows you to avoid the financial burden of high-interest bank loans and offers flexibility in choosing properties strategically located to save time and fit your lifestyle. your. Furthermore, if you decide to buy a home, buying it with cash can be a wise financial decision. This will avoid mortgage-related interest, save you money in the long run, and potentially give you a higher return on investment.

Depends on what would work on you better. If you cannot pull out huge amount to buy your own house, then you'd be left no other option but to rent. Indeed you don't need to go far from what you can provide.  If you will be able to buy a house then you'd be safe from monthly rent, that you can save and spend on other things. But as we all know, not everyone has the capability to do so. The other option is to rent; which would give you or should give you an enough space to save up and buy your own afterwards. Conflict may arise if you are not doing anything to reach your goal. Perhaps you are renting to save money atleast for now, but if you aren't doing so, then your goal won't be achieve. What's more practical is to know what would best work on your lifestyle and capacity.

[Oasisman]

I have been debating about it with couple of my colleagues whether stay on rent or buy a property.

Let's assume, you are well capable enough to buy a new property through bank loan. Your income supports the mortgage payment so banks are willing to lend you money.

What will be the best route to take? Buy the property or stay in a rented place?

The usual appreciation rate of your property value is around 10% owing to the development work that are ongoing. For rented property, your rent increases by 15% every year.

What's the better option for you and why?

Buying a property via bank financing would always be better as the properties are becoming more and more expensive as years passed by, so it would always be better to buy it as early as possible. Though there are certain things to consider before taking a loan. Do you have stable job? Does the nature of your job offers constant promotions? Do you still have enough money left after you pay for the mortgage? These are just some basic things to consider before you sign that paper and take the loan.
No matter how long the term is as long as it is going to be your property once you paid it in full is always better than just renting a space.

[CageMabok]

I would rather rent a house than take out a loan through a mortgage. Renting allows you to avoid the financial burden of high-interest bank loans and offers flexibility in choosing properties strategically located to save time and fit your lifestyle. your. Furthermore, if you decide to buy a home, buying it with cash can be a wise financial decision. This will avoid mortgage-related interest, save you money in the long run, and potentially give you a higher return on investment.

The advice you give does sound wise enough for those who still don't own a property like a house, but there is one more solution that might also be wiser if someone can't buy a house in cash. Those who want to buy a house but don't have enough money for a house unit can also make a way with a home developer by paying it off every month.

This of course will not be related to the bank because the home developer himself will handle this as long as there is a clearer agreement from the buyer. However, if the buyer feels that this is quite a burden, then the solution to renting a house can also be used by those who don't own a house, even though the level of burden is not much different even though the rental fee is only considered once a year.

[Fakhrulenclix]

I would rather rent a house than take out a loan through a mortgage. Renting allows you to avoid the financial burden of high-interest bank loans and offers flexibility in choosing properties strategically located to save time and fit your lifestyle. your. Furthermore, if you decide to buy a home, buying it with cash can be a wise financial decision. This will avoid mortgage-related interest, save you money in the long run, and potentially give you a higher return on investment.

The advice you give does sound wise enough for those who still don't own a property like a house, but there is one more solution that might also be wiser if someone can't buy a house in cash. Those who want to buy a house but don't have enough money for a house unit can also make a way with a home developer by paying it off every month.

This of course will not be related to the bank because the home developer himself will handle this as long as there is a clearer agreement from the buyer. However, if the buyer feels that this is quite a burden, then the solution to renting a house can also be used by those who don't own a house, even though the level of burden is not much different even though the rental fee is only considered once a year.

Making an agreement with a developer is not that easy, no developer wants to accept monthly payments except with a large initial amount or linked to bank credit.
if you have a steady job I prefer to buy even if it's on credit because renting is a waste especially since home is the most important place in life (a must have) and also the price is increasing every year.
Buying on credit is a little expensive because there is interest, but when compared to renting for the same year, the results will be more profitable buying on credit, that's an advantage in the future, so it's worth thinking about.

[Patrol69]

House rent is paid in full debit. So if you can buy land and build a house without paying house rent, you will save the amount of money you used to spend on house rent every month, and if you can build a little bigger house, you will be living in your own house. You can rent out your house so that you can get certain amount from house rent every month which will play a big role in increasing your future savings. I think every renter has an idea of when they will be able to own a house because no one wants to pay someone a certain amount every month. So I personally think that building your own house is much better than renting a house.

[Adbitco]

I don't really see this to be a thing of debating over just a common sense you will know that there is nothing much into it. As a worker and you had the chance to take a loan then is better to have it to buy your own property and pays it off gradually being that staying in a rented apartment increase 15 percent every year. It's better to own a property than being in a rented apartment and you don't think of having your property is waste of life, there is no increase in your property possession rather you would waste your time and money living in rented apartment without you having your personal property. Even if i had the chance of taking a loan i would go into using that money to utilizes my landed property which after i finished the whole process that same landed property could be farming out money for me which i would used some of them to speeding to pay off the loan taken from bank. 

[RockBell]

I have been debating about it with couple of my colleagues whether stay on rent or buy a property.

Let's assume, you are well capable enough to buy a new property through bank loan. Your income supports the mortgage payment so banks are willing to lend you money.

What will be the best route to take? Buy the property or stay in a rented place?

The usual appreciation rate of your property value is around 10% owing to the development work that are ongoing. For rented property, your rent increases by 15% every year.

What's the better option for you and why?

I think if I had the money I would preferably go for real estate and keep modernizing my house to my taste, and I don't know about your region but the price of houses for rent is really going up, and if I have my own crip I would not bother wasting money on rent the best thing is to own a house but most people have the money to build themselves a house but some the nature of work they do does not really give them that opportunity to own one then they will reconsider once they retire which I think is the best.

[bayu7adi]

House rent is paid in full debit. So if you can buy land and build a house without paying house rent, you will save the amount of money you used to spend on house rent every month, and if you can build a little bigger house, you will be living in your own house. You can rent out your house so that you can get certain amount from house rent every month which will play a big role in increasing your future savings. I think every renter has an idea of when they will be able to own a house because no one wants to pay someone a certain amount every month. So I personally think that building your own house is much better than renting a house.

The dream of owning a home holds greater significance for someone who desires to have a family and raise children. However, for an individual living alone without a family, their dream may not be as grand. They find contentment in simply renting a house or dwelling that meets their needs. Essentially, as long as they are living alone, working, eating, and maintaining their living space, renting remains the simplest option. Considering the demands of the working world, it would be impractical for them to handle gardening, fixing a leaking roof, or repairing aging walls.

Their perspective changes when they find their life partner. This signifies the beginning of having a family that requires a permanent place to live, just like a typical home. The wife can reside in the house and take care of it, while the husband can work to support their family.

[uswa56]

House rent is paid in full debit. So if you can buy land and build a house without paying house rent, you will save the amount of money you used to spend on house rent every month, and if you can build a little bigger house, you will be living in your own house. You can rent out your house so that you can get certain amount from house rent every month which will play a big role in increasing your future savings. I think every renter has an idea of when they will be able to own a house because no one wants to pay someone a certain amount every month. So I personally think that building your own house is much better than renting a house.

The dream of owning a home holds greater significance for someone who desires to have a family and raise children. However, for an individual living alone without a family, their dream may not be as grand. They find contentment in simply renting a house or dwelling that meets their needs. Essentially, as long as they are living alone, working, eating, and maintaining their living space, renting remains the simplest option. Considering the demands of the working world, it would be impractical for them to handle gardening, fixing a leaking roof, or repairing aging walls.

Their perspective changes when they find their life partner. This signifies the beginning of having a family that requires a permanent place to live, just like a typical home. The wife can reside in the house and take care of it, while the husband can work to support their family.

Almost everyone wants to have a family, this is about the future and in my opinion, whether you have a family or are still single, a house is an asset that everyone should have.
renting is a delay before having your own, it's okay to continue renting if it helps you to be close to work or something else, but you still have to think about the future, namely having a private house.
And this will also cause a lot of people to be constrained by money. In my personal opinion, any path will be taken if we already have a strong desire, even if it has to be done in installments or taking bank credit.

[LogitechMouse]

For me, it isn't debatable anymore. Buying is always better than renting when it comes to real estate.

You know that feeling where you are secured when you own that home. The sense of security I think is enough reason already to say that buying a real estate is better than renting. In renting, there will always be a chance that they will get that home for you for various reasons. If you bought that home, you have total control of it. When you have a family, you can make your family secure because you own the home. The privacy as well where you can just do anything you want to do because it's your home.

You also said that the price or rent increase by an average of 15% yearly. Just imagine paying that rent at a higher price next year, and the fact that inflation is also there to eat away the buying value of your money adds to the problem. In the long run, having your own home would always be better because you will not think of paying the rent on a monthly basis anymore.

Why buy a house using bank loan? I'd rather pay it cash to save money as much as possible.

It depends on the person.

There are some who doesn't have straight cash on hand, but really wanted to buy or build their new home thus, they are resorting to take a loan on the banks. Yes you can save a lot of money if you have enough cash already, but like I said, there are some that for some reasons really wanted to have their own home, and live independently. As for me, if I have enough cash to build a house then why should I borrow from banks.

[michellee]

House rent is paid in full debit. So if you can buy land and build a house without paying house rent, you will save the amount of money you used to spend on house rent every month, and if you can build a little bigger house, you will be living in your own house. You can rent out your house so that you can get certain amount from house rent every month which will play a big role in increasing your future savings. I think every renter has an idea of when they will be able to own a house because no one wants to pay someone a certain amount every month. So I personally think that building your own house is much better than renting a house.

But don't forget that owning a house has to pay taxes which may increase every year according to the conditions in that country. Everything is very difficult nowadays because even if we own a house, we still have to pay taxes.

And if we rent a house, we don't pay taxes but still pay the rent. Buying a house is the best choice if you don't mind paying taxes every month.

So before deciding to buy or rent a house, we have to calculate everything. If necessary, we can ask the tax office to find out the tax costs if we buy a house.

[Unbunplease]

But don't forget that owning a house has to pay taxes which may increase every year according to the conditions in that country. Everything is very difficult nowadays because even if we own a house, we still have to pay taxes.

And if we rent a house, we don't pay taxes but still pay the rent. Buying a house is the best choice if you don't mind paying taxes every month.

So before deciding to buy or rent a house, we have to calculate everything. If necessary, we can ask the tax office to find out the tax costs if we buy a house.

When a foreigner buys real estate, he pays much more taxes than a citizen of the country. Therefore, it is not always more profitable to buy a home than to rent. Moreover, if the property is not in a very good place (and this can not always be understood immediately - sometimes you need time), you can simply terminate the lease. If the property is owned, it may not be possible to sell it at the purchase price

[Lorence.xD]

My thought about this is renting would be better if only you're planning to live in that house in just few years. Because renting might look cost you a lot of money but you won't have to think about the taxes and taking care of the papers of the houses only the rent, electricity and water this is based from my country. But if you're planning to live in that house for decades and planning to give the house to your future child then it would be a good choice despite the taxes. But personally I would invest in real estate and let people rent it and those rent would be the payment for the house. Passive income is the best but still you have to take care of the papers and problems from the house.

[Mpamaegbu]

What will be the best route to take? Buy the property or stay in a rented place?

In the face of the two, considering also that you've got a secured job capable of taking care of the loan, you should go ahead and buy the property. It's a better option on the long run than renting.

So it will be better if I take that loan, rent an apartment, and set up something that could be used to generate money so I can actually build a house of my own, rather than building a house from a collected loan. If I take a loan enough to build a house, I could possibly use that to set up a business and allow my employees to be educating my loan amount from my salary, so my business can be generating me some income, which I can use to cover up those loan amounts every month.

Most times, life doesn't go straight as planned. Things happen that can adversely change the direction of our plans. I don't want to say shit happens but then that's what it's. I've seen businesses go down and run owners into great debts instead of providing them financial liberation. I dare say there's no guarantee a business will bring anyone fortunes. However, business pays if it goes well.

[ajiz138]

The advice you give does sound wise enough for those who still don't own a property like a house, but there is one more solution that might also be wiser if someone can't buy a house in cash. Those who want to buy a house but don't have enough money for a house unit can also make a way with a home developer by paying it off every month.

This of course will not be related to the bank because the home developer himself will handle this as long as there is a clearer agreement from the buyer. However, if the buyer feels that this is quite a burden, then the solution to renting a house can also be used by those who don't own a house, even though the level of burden is not much different even though the rental fee is only considered once a year.

Not everyone can afford to buy a house in cash, most of them are renters because with this they can afford to pay monthly, of course, their monthly income must be adjusted according to their wishes.
What I know is that every house installment involves a bank, because developers also won't be able to afford long-term installments, unless by buying cash directly, the developer can do it. What's more complicated than home installments is that it takes a long time, even 10 more years, that's what will make us burdened if financially does not support, therefore the wiser advice is to rent, that is my view.

[inthelongrun]

I spent more than half of my life renting starting the day when I was born. The debate about renting vs owning is not just about finance. There are ups and downs, especially at a young age when you are renting. If money is not much of a problem then renting is cool because you can easily transfer to another place you think you might feel better.

Financially, owning a house is better than renting. Although I doubt that it is common in most places to have a 15% yearly increase on rent because it never happened to me. But 10% yearly appreciation is the same in big cities here in my country. Just imagine how much money we spend on rent and in the end, we don't own even a part of the property. Whereas even if we loan the property we live in, the loan interest rate is not that high if we are to deduct the usual 10% yearly appreciation value.

Although around 20% to 25% of the property is owned by my brother, I just started living here free from rent nearly 2 years already. There are pros and cons of course. Financially it's better than renting. I love the silence and privacy in a guarded subdivision. But I am now far from the usual downtown city where I used to live. I am forced to cook my own food which is healthy but it costs me time and it is expensive if I order food all the time. I live alone and for someone that loves to travel a lot and at times even spend a year away from home, it might be difficult because you have some plants to take care of.

[Nwada001]

Most times, life doesn't go straight as planned. Things happen that can adversely change the direction of our plans. I don't want to say shit happens but then that's what it's. I've seen businesses go down and run owners into great debts instead of providing them financial liberation. I dare say there's no guarantee a business will bring anyone fortunes. However, business pays if it goes well.

I agree with you that the success of every investment is based on planning, and to some religionists, this is also applicable. Buying a house isn't a bad idea; in fact, I see every land-owned property as the right choice of investment to some point because the more development gets to those areas, the more value the property is adding over time. We all have different views when it comes to loans and how they could be perfectly utilized in other ways to be productive. Buying a house with a salary loan is not part of my successful story. Just like you have said, things happen. Not every time that we can expect things to happen in our favor, at some point we also face difficult times.
 
Before any company could successfully give out such a loan to an employee, I know there are certain criteria that must be met, such as his or her position in the company, their chances of lasting so long in the company until the loan is fully repaid, etc., which looks like a perfect business plan mapped out for the company. At the end of the day, they will get their money back. But do you also not wonder what happens if things happen like you said? If the employee gets some demotion based on underperformance, we never know what will happen. Or what if the company runs a little low in demand and, as a result, income is reduced? This will require them to reduce staff in order to fit in their expenses (this kind of situation is only possible in private enterprise).

What do you think will be the faith of those who own the company? Let's not forget that after the loan, their salary will be reduced by some percentage, which they will be deducting from their salary monthly, and the family's way of life will also reduce. And if they fall victim to demotion, I don't think it will affect their agreed monthly payable amount. What do you think will be left with the debtor to go back home with at the end of the day? What if they are being dropped from work? What will be the faith of that loan? Where will they be paying it back from? Or what if something happens in the future and the person who took the loan is no longer able to work because of a health issue or has passed away? What will happen to the loan or the property acquired through the loan?

These are all the things that I always calculate and reason about before thinking of any form of salary loan, which is why I could only possibly use part of it to set up a business that could be used as backup income for me in case things go sideways.

[lizarder]

Let's assume, you are well capable enough to buy a new property through bank loan. Your income supports the mortgage payment so banks are willing to lend you money.

It doesn't matter when people take out loans to buy property and besides they have support for mortgage payments. Precisely a decision like this in my opinion is far more appropriate than taking a loan but not being able to pay the mortgage loan costs every month.

What will be the best route to take? Buy the property or stay in a rented place?

The usual appreciation rate of your property value is around 10% owing to the development work that are ongoing. For rented property, your rent increases by 15% every year.

Let's simplify this as the idea of assigning precision values to each other. Renting is not a solution because it is not ours, whereas buying will impact assets into ours, because the context for having the ability to cover mortgage costs and is different when speculating without the ability to pay off the mortgage. The depreciating cost of property value is something that will continue to happen whether you own it or rent it, but the difference is that when you try to spend money on personal assets, it is much better than spending money on renting property.

In the long run it is impossible for us to live forever with rental properties and when the ability to buy is backed by the ability to cover mortgage loans why choose to rent? Not necessarily when we get older our ability to buy is still available and not to mention those who are no longer productive will usually lose their permanent jobs and as a result we also cannot afford to rent. But when we are still productive to make money, it's better to buy it so that the preparation for old age is much more promising.

[Finestream]

If your work is on a field and you need to go in many places then of course renting is the best. But I am sure that even if you've got that lifestyle, one day you'll be tired and you're dreaming to have your own real estate so that you won't pay anymore with rent.

And with having no property with being approved by the bank, I am sure that someone who's still young and can afford it will do that. No doubts of taking that potential approval and will buy property.

Regardless of your work location, it’s always our dream to have a property that we can call it our own. Especially for long time renters, the fact that there money only end up as nothing at the end of the year so buying a property is everyone’s dream. However, I don’t think loaning from a bank is a bad idea, I believe if you are capable to pay for that, then go and take a loan while you still have a job to that will help you pay your loaned money.

[tjtonmoy]

I like the "Buy" idea better than renting. Ok, hear me out, here's the plan. If you have the ability and situation to buy or build one for you, then go for it. But make sure you choose the one where you can live by yourself and also rent it to other people. That way, you will rent your own property to others to make money also living in that place rent-free, because you own that place.
This will not just give you a place to live, but also a place from where you can earn every month that you can use to pay off the loan. Also, when the loan payment is paid fully, if you wish to move to some place, you can rent your property and choose somewhere else with less rent than you are going to get from your property. This way you will be able to make profits and also live where ever you like.
I don't know how much this will make sense to other, but to me, it's a perfect plan. At least to me tho.