Shoud You Buy or Rent a House?

Rent or Buy a HouseHouse has become one of the primary needs for everyone. However, limited land and budget often make some people not able to afford to have proper housing. Luckily, some property developers provide houses with a low price, either for rent or purchase.

Some people who want to have a house might be confused with the two choices, whether renting or buying a house. The considerations may vary, ranging from price, long-term prospects, resale value, and so forth.

Well, the following considerations are for you to decide whether you should buy a house or rent

Buying a house
The advantage of buying a house are:

  • You can have the house as long as you want, without any time limit.
  • You also do not have to bother to extend your stay. Buying a house means that you have a full house on your behalf.

However, there are also some disadvantages of buying a house:

  • The design of the home you buy sometimes do not match what you want.
  • If there is any damage in your home, you have to fix it yourself, without liability of other parties.

Renting a house
Renting a house provides you the following advantages:

  • You are not solely responsible for the maintenance of the house. If there is damage then the owner can still be involved to repair in accordance with the agreements.
  • Tenant is also not responsible for property taxes because everything is still on behalf of the owner.
  • Some home owners have to provide the facilities and furnishings in the home rented, so you can maximize the use of the furniture.
  • Renting a house is also more flexible, especially for those who frequently move.

On the other hand, there are also disadvantages of renting a house:

  • In terms of price, sometimes the price offered and the quality is not comparable, because it is the location which much determines the house prices.
  • Renting a house needs an extension.
  • You are less free to to renovate or decorate the house, because the house is not yours.

Image credit: dumblittleman.com 

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