Owning a Home or Renting

[zolace]

People think owning a home is better for them than it is.

[DiamondCardz]

That reminds me of this interesting article: http://chralash.wordpress.com/2013/05/07/you-dont-own-your-house-or-your-car-or-your-labor-everybody-should-have-some-bitcoin-because-its-one-of-the-things-you-can-truly-own/

You don't own anything, and it all links back to Bitcoin being one of the only things you can actually own. But in terms of the topic the OP raises, renting is better. It's flexible, if you want to move you can do so easily, and you're purposely not owning the property rather than falsely owning it.

[zolace]

Good Informative article you posted

[cookiemonsterwhat]

I think its better if you own a home if you can afford with cash, and get a deal.

Renting though is never a good situation for a home, since it ends up having a broker talking you into just buying the house and pull out a loan.

And their reasons can justify by stating since you been living there 1 year or 2 anyway why not factor.

[dumbdragon]

I just read the article. It seems like theres a lot to learn in the real estate industry, well especially when I finally decide to rent or own a home. \

Thanks 

[sana8410]

I think it all depends on where you are at in life. Initially, I would have always said that buying is the better option, but that may not necessairly be true.

[counter]

I guess it depends on the financial situation of each individual.  I'd think owning a home is better but when I hear things these days like people not actually owning their home even after they paid of the debt they owed on it I wonder.  I'd say for the average person renting may just be a better option these day but I hate to believe it.

[1Referee]

For me personally at the moment renting is the best option. I never buy things and pay later, or paying several € per month for something.
I will only consider buying a house when I have 100% of the money to buy the house in one go.

There are some people that I know that have €50000 debt because they bought a house and 10 years later they lost their job, and now are suffering from piling bills, a house that no one will buy, and also struggling to buy food. Every cent that they have will be used for paying their mortgage, which can take a lifetime with their income nowadays.


Best thing in life is to have 0% debt which is very hard, but it is possible for sure.

[beetcoin]

the people who buy homes without a financial plan deserve to lose their money. personal responsibility is important.

[gagalady]

ALL depends on your budget, of course having your own house is better than renting if you just have money for this. You can rent your house to someone else if you have other place to live in and earn extra cash and It's just makes you stronger morally.

[noviapriani]

the people who buy homes without a financial plan deserve to lose their money. personal responsibility is important.

well that occasionally happens to people when they are buying over there means, meaning more then they can afford.  so yup those are not responisble

[bitmarket.io]

if you live on the fly, rent
if you live on the ground, buy
and most importantly,
don't be a tardo...
-pⁱm_ph^oo_d

[noviapriani]

i think it all depends on what the life goals are of the person and the current financial situation. cheap credit is hard to come by, and down payments are again very important for lenders. If you don’t have 20%, you will pay PMI, which only boosts your mortgage payments. and definitely don’t get a home for the tax deductions, its ridiculous to spend money to get a break on taxes, that’s not the point of tax deductions. If you can afford to buy, you should as long as you expect to live in the area for at least 5 years

[counter]

I know of one person that did very well in the crypto markets very on and decided to sell his home and rent.  That tells me that owning a home isn't really all it has cracked up to be.

[tins]

People think owning a home is better for them than it is.

It comes down to the area that you live.
I live in St. Louis and owning a home in a blue collar neighborhood is very inexpensive. I have 2 rental properties and the rental income is roughly 250% of my total costs per home (mortgage + taxes + insurance + annual repairs).
On the other hand, if I lived in a more major city where average home prices are in the hundreds of thousand or millions, it would be more worth it to rent because more often than not the rental income would not match ownership costs.

To shorten my whole thing. It all comes down to the area as to whether it would be better to rent or own.

[kuroman]

It all depends on the country/region you lives on and there many factors to take into consideration

Property taxes
Housing valuation/devaluation in some regions countries the price of house keeps increasing, while in some other the price decrease for example

Also it depends on you if you have a solid long term plan in the region you are going to live on.

[wachtwoord]

No-one really owns property. Having said this I feel housing prices are heavily inflated (especially in my area although everyone but me thinks they're low because of the crisis) and I would not want more than my net wealth (yes it's called a mortgage) tied-up in an investment which I think will provide a negative return. Finally renting gives far greater flexibility.

Having said all this, in most areas the rents are tied to property prices in some way or another so it might all be a bit moot.

[PolarPoint]

Buying a home when property prices are low if you can afford it.

[jinjuro]

I prefer owning. Because I do a lot of changes. Like adding bunkers and tunnels under it.

[Bitcoin Magazine]

People think owning a home is better for them than it is.

it truly is.  and marijuna != enlightenment