Current Events > The more I look at renting vs owning a house... The better renting sounds m

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I see pros and cons to both but renting benefits just seem to outweigh the pros of owning. I can only see owning being more benificial if you are renting it out and using it for passive income or you are turning houses. Or of course if you know the value is going to greatly rise then you sell it. Just buying it to live forever just seems like a bad idea overall when compared to renting
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Depends entirely on your situation. Of you find the right place and you know you're not moving for a long time (and you can afford it of course ) then I think buying makes sense.

If you tend to relocate every so often or you're not handy and you pay people to do all sorts of maintenance then renting makes way more sense.

I don't think it's as simple as buying is better than renting or vice versa.
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NES4EVER posted...

Depends entirely on your situation. Of you find the right place and you know you're not moving for a long time (and you can afford it of course ) then I think buying makes sense.

If you tend to relocate every so often or you're not handy and you pay people to do all sorts of maintenance then renting makes way more sense.

I don't think it's as simple as buying is better than renting or vice versa.

Here is a question for you. I understand buying if you don't plan on moving for a long time... However, what if you plan on NEVER moving? Does that make sense when it can take you 20 years to pay that house off? Along with insurance... along with expenses...

If you never plan on moving and it takes 20 years to pay your house off I don't see why you don't rent instead personally.
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Depends on the relative cost - taking into account maintanence, rates, etc too, not just mortgate repayments.

Also, if you're buying, you better make damn sure it's in a good neighbourhood, because you don't have an easy way out if it's not.
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known2FAIL posted...

NES4EVER posted...

Depends entirely on your situation. Of you find the right place and you know you're not moving for a long time (and you can afford it of course ) then I think buying makes sense.

If you tend to relocate every so often or you're not handy and you pay people to do all sorts of maintenance then renting makes way more sense.

I don't think it's as simple as buying is better than renting or vice versa.

Here is a question for you. I understand buying if you don't plan on moving for a long time... However, what if you plan on NEVER moving? Does that make sense when it can take you 20 years to pay that house off? Along with insurance... along with expenses...

If you never plan on moving and it takes 20 years to pay your house off I don't see why you don't rent instead personally.

If you plan on never moving you're paying someone else's mortgage or investment for all of that time.
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known2FAIL posted...

NES4EVER posted...

Depends entirely on your situation. Of you find the right place and you know you're not moving for a long time (and you can afford it of course ) then I think buying makes sense.

If you tend to relocate every so often or you're not handy and you pay people to do all sorts of maintenance then renting makes way more sense.

I don't think it's as simple as buying is better than renting or vice versa.

Here is a question for you. I understand buying if you don't plan on moving for a long time... However, what if you plan on NEVER moving? Does that make sense when it can take you 20 years to pay that house off? Along with insurance... along with expenses...

If you never plan on moving and it takes 20 years to pay your house off I don't see why you don't rent instead personally.

Depends where you live. In 33 years my parents house went from 65k to 535k when they sold.

Their condo went from 370k to 630k in 6 years.

My townhouse went from 310 to 475 in 2 years. I literally made more off my house than I did at work.
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Depends on the difference of rent versus costs of home ownership (mortgage, pmi, property tax, HOA fees, repairs, insurance,etc) and what you do with that difference. And by that I mean, if you save 500 a month by renting, is that money (plus the house down payment) just gonna be sitting in a bank? Or will you have it in the market.

Then again, house values can increase and that increase is only amplified by the leverage used(10% down payment used to buy a house, so leveraged x10)

Home ownership tends to cost more than people assume, but it can still be good. But I agree, it's not always simple
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https://affordanything.com/is-renting-better-than-buying-should-i-rent-or-buy/
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If you live in or near a city with a growing population it's a way better idea to own IMO.

I live in Sydney so I'm probably a bit biased. It's ridiculous how much house prices have gone up. They're developing all around where I live so there's not much of a chance I'll lose in the investment if we ever decide to move.
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