Should You Rent or Invest in a House? This Post has the Answer
This is the dilemma of a lot of people. It’s a big decision that affects the whole family. A lot of money is also involved, not to mention the time and effort needed to move into your home – whether rented or your own. This is why you want to make sure that you’re making the right choice.
When to Rent
Here are some instances wherein it’s a better idea to rent:
- You don’t have the money yet to invest in your own home.
It goes without saying that you can’t spend money that you don’t have. Of course, you also have to consider the fact that you also have to invest in a rented home since most landlords will require a couple of months for advance and deposit. But generally speaking, it’s more affordable to rent.
- You’re just looking for a temporary home.
Maybe you’re moving into that city for work and you don’t really have plans of moving there permanently. Maybe you’re looking for a home for your child who’s going to college. One of the best things about renting is you can simply move out when needed provided of course that you’ve finished the contract.
There’s no point in investing in buying a home when you only plan on staying there for a year or two. Unless, you want to invest in a home for you to sell later on when you don’t need it anymore. This can give you a lot of income potential.
- You’re saving up for your dream home.
Maybe you can afford to buy a home but you have set your sights on a bigger and better home. You can rent while you’re saving up for it.
When to Invest in Your Own Home
Generally speaking, it’s better to invest in your own home rather than to rent. This is especially true if any of these applies to you:
- You’ve already saved up money for your dream home or you have access to funds.
Your dream home is one of the biggest investments you’ll make, and provided that it’s done by a good contractor, it’s going to be an investment well spent.
How much will this investment be? Click here to have a good idea.
- You’re looking for a permanent home.
There will come a time when you’d want to settle down in your own permanent home. You’re sick and tired of moving around. You found the perfect city (Lipa?) for you. In this case, you should invest in a permanent home.
- You want to put the money to good use.
By renting, you’re basically paying for a house that you’ll never own. On the other hand, you’re paying for something that you can call your own if you invest in your own home.
- You want flexibility.
It’s your home. You can have it designed by a good architect with your own ideas. You can renovate as you please. That’s something you can’t do with a rented home.
- You want something to call your own.
“Welcome to our home!”
Isn’t that a joy to say?
Come Talk to Us!
It doesn’t matter if you haven’t decided on whether to rent or invest in a home. Let’s talk! We can answer your questions for you. Of course if you’ve already decided to invest in your own home, we can turn your dream into reality!