Some of page content & features are available only to members - Sign up only takes 8 seconds!

Renting vs Owning a home: advantages and disadvantages?

+3 votes
41 views
Apr 28 in Investments by Dan (4,755 points)

Which you think as a better choice, renting or owning a home? What are the pros and concerns.image

Renting a home
Owning a home

4 Answers

Virginia Apr 28
Renting a home

Hi Dan,

If you have a growing family, with a stable income and can afford the down payment, I would opt for your own freehold. There is a satisfaction to home ownership that doesn't really fit under any category...stability for your children, you can alter it or decorate according to your needs and tastes.

I myself did check renting; as an older person who moves around somewhat, that is what works for me.

Rooster Apr 28
Owning a home

I bought this home when I came home from my first tour in 1971. About 6 months later, I went back fro a second tour with S.O.A.R. and knew I was going to be gone a long time so I rented the home out to a young couple with a baby. I only rented maybe a year before I married the woman that was living in my home as she was single by then. Raised three kids in it and long and paid for it. The equity allows you to buy almost anything. As far as repairs and upkeep? Yes, you have to pay for those things throughout but to me? Owning is much better than renting. We wanted a swimming pool? We just got it! I think owning a home far outweighs renting any time. After all, every time you get up in the morning? You know you're putting your feet down on something that belongs to you. Besides, re-sale value has gone through the roof here!

Marianne Apr 28
Owning a home would be preferable, provided that you have a stable income, which allows to pay mortgages, interests, taxes, fees, maintenance costs, etc., that the price per m2 is affordable, and that you have already saved previously enough money for the required deposits.

There are, though, places, where properties and estates are far too expensive for middle-class working people and small enterprises, and the local conditions may also play an important role for you and your family as owners, considering the many challenges occurring with rising unemployment numbers, civil unrests, migration, criminality, natural disasters, ecological and health problems, alongside with the galloping precarisation of large numbers of people.


And choose your home with care:


https://en.wikipedia.org/wiki/The_Money_Pit
:O:angel::D

At one time I owned a place. I enjoyed it, I like the ability to do whatever I wanted with the place. Currently though I'm renting, but in a nice community with access to a pool, tennis, racquet ball, beach volleyball, a fitness center and I don't have to do any maintenance. So each has its own good points and bad!

Related questions

image
Mar 7, 2016 in Health by Paula (71 points) 3 answers
Jan 20 in Beauty & Style by Dan (4,755 points) 3 answers
Jan 19 in Home & Garden by Dan (4,755 points) 3 answers
Jan 19 in Home & Garden by Dan (4,755 points) 3 answers

Question followers

0 users followed this question.

42 Online
0 Member And 42 Guest
Today Visits : 2111
Yesterday Visits : 6849
All Visits : 5706868
...