Do you prefer a own house or a Rented House ?

@senthil2k (1500)
India
May 23, 2007 9:57pm CST
Hello, House is the basic need for everyone. And everyone of us like their house to be most peaceful and enjoyable place. Now the question is , you prefer to OWN a house or RENT a house ? The question is simple, but there are a lot of things to consider before choosing one! I prefer to OWN a house, especially in my Country, where house Rents rise like anything everyday. Even the house owners create a lot of problem at times !!! Which one will you choose ? Own house or Rented House ? Why ?
11 people like this
48 responses
24 May 07
Ive prefer to own house while renting. Why? I want to have my own dream house rather than renting the one you dont basically like. of course it has all but the essence of a home is not there. If i weigh them, both have the same expenses.
3 people like this
@senthil2k (1500)
• India
24 May 07
I feel owning a home costs you more than renting a home ! How do you say both have same expenses ? Can you please explain a little more ? Thanks for your response anyway !
1 person likes this
@flpoolbum (2978)
• United States
24 May 07
My mortgage payment is more than my rent, but it is an investment. Other than that, I would say the expenses are about the same. Renters pay taxes as part of their rent. I use to carry renter's insurance. I do pay more for water and electricity because now I have a sprinkler system and a pool.
2 people like this
@senthil2k (1500)
• India
24 May 07
Thats great! Thats again the comfort you have with owned house. You can design for yourself, you can even alter in the way you want later too, just like you have some sprinklers now. Thanks for sharing you joy with mylotters !
1 person likes this
• United States
25 May 07
I prefer to have a rental simply because its easier to rent than have to pay taxes and own. I really don't think that if you have paid for something in full that you should have to pay a stupid property tax. If you buy a television from wal-mart you pay taxes one time, and its yours. There is no yearly tax on televisions, computers, clothing, etc. Therefore I prefer to rent my property, because I don't agree with property taxes.
3 people like this
@bkfuels (1603)
• Canada
24 May 07
Ownig your own house - House, home.
Well I own my own house and I would not have it any other way. I have owned different houses since I was 17 years old. I am now 48 and I have never rented in my life. Recently in the last few months my husband and I bought two more houses for rental property, so far it is going really well for us.I just would rather pay money to something that is mine and not going to another person and I will never ever see anything from it.
@senthil2k (1500)
• India
24 May 07
Lucky one here ! You are one of the few in the world who have never rented !!!!!! Great and continue this forever and try to keep them for your children too.. Thanks for the response.
1 person likes this
@flpoolbum (2978)
• United States
24 May 07
I prefer to own my own home. My wife and I finally bought the first home I have ever owned. I love it. We can hang things on the walls or add a needed electrical outlet. We can do whatever we need or what to do. Plus owning a home is a good investment! Renting is a waste of money!
2 people like this
@senthil2k (1500)
• India
24 May 07
You are perfectly right ! You can always do whatever you want with your own house , but not always with the rented ones! That a good one. Your second point that Owning a house as an Investment, is a very very valid point! This alone can be a great reasons for buying a house. Thanks for your response.
1 person likes this
@leeesa (884)
• United States
25 May 07
There are pros and cons to both. With rentals, you are building equity for someone else where as if you own, you are building equity for you. With rentals, if something breaks, the owner has to fix it. If you own, it comes out of your own pocket! Ultimately, I would rather own. But I will buy a townhome so I don't have to mow lawns or shovel snow!
2 people like this
@MJLami (1173)
• United States
24 May 07
Whether to own or rent is a personal decision. There are many things to consider such as home repairs, maintenance and upkeep, do you want to stay there for more than 12 months, are you looking to settle down and have roots? etc. In the USA being a homeowner means paying an additional property tax (many but not all states charge car, pet taxes, etc.) Are you prepared to pay the homeowner's insurance? This varies widely state to state and even between localities within the same state. The tax advantage on your income tax for many is the biggest asset as well as knowing someday there will no longer be a mortgage payment to make and with rent that is not an option ever. There's also the advantage of being able to modify property that is owned and make it your decorating style. With a rent you get what the landlord is willing to pay for only. As an owner you can have red walls if you want them. As a tenant that depends on what the landlord is willing to allow. I am an owner because with all the above it is my best choice for me. And there's something to be said for not having someone in your space without being invited and maybe even when you are not present. No thanks, I've been a tenant and I've also been a landlord. I like being a homeowner and not being or dealing with tenants the best of all!
@senthil2k (1500)
• India
24 May 07
OMG ! These many consideration before buying a home ? Anyway all the best. Thanks for your response.
• United States
25 May 07
Ofcourse my own house so I can work on it and make it my home and a sanctuary. WHen one rents a house, one does not own it so one can not work or fix it the way one wants unless one is willing to put it back to the same when one moves out. I love to work in the garden so My own home would be a place where I can spend lots of time and money in the garden. Rental is ok for temporary housing. Own your own home also has advantages in appreciation in value and tax incentive but also costly to maintain a home. You have to make sure you pay the principle and interest as well as the insurance and OFCOURSE YOU CAN NOT FALL BEHIND IN PAYING THE PROPERTY AXES!!
• United States
25 May 07
great question...for a lenders point of view...it depends on the borrower...wether or not they can afford the payment on the mortgage, the up keep of the home. taxes, and insurance. the best option is always to buy...because that is your biggest asset and your biggest tax rights off...and if u know what u are doing u can make money off your home with the equity that u build in it....owning has alot of benefits for the right homeowner....
1 person likes this
• United States
24 May 07
I would prefer to own a condo, so the maintenance man can do everything :) I hate shoveling.
1 person likes this
@Jerry132 (44)
• China
25 May 07
Fortunately, my wife and i dont have to buy an own house or rent a house, because we live in a room next to my wife's working office. That is, the house doesn't belong to us, but we can live in it for free. However, i don't take it as an apple falling from a tree and i prefer to own my house where we could do whatever we want.
1 person likes this
• Singapore
24 May 07
I prefer to own house because there is no security in renting house
1 person likes this
@senthil2k (1500)
• India
24 May 07
Perfect ! We can have complete control over the things we own, not on the things we rent. Also, No one else can force us out of our Own house.. ! Thanks for your response.
@add_im (2712)
• Philippines
24 May 07
I would prefer to have my own house than just renting a house, because as we all know that if we're only renting a house or a place it's a very hassle situation for the family and even more for the children if you have many. So, best thing for the family is to have a house which they can call it their own. There is really nothing compares to have our own thing, than having it but only to have it a while.
1 person likes this
@senthil2k (1500)
• India
24 May 07
Ok.. Thought about the children too needed to be considered to buying a home ! Great thought !
@tina12679 (1126)
• United States
24 May 07
I am currently living in a rented house, I love the house we live in and would love to be able to own it. I hate having to call and confirm everything with our land lord before doing anything, and i always have this fear that one day she is going to say ok sorry but i need you to move out. For whatever reason, I just would like to own a house to be able to do wahtever i want with it whenever i want to and never have to worry about someday having to move out of it becasue some one else told m ei had too.
1 person likes this
@senthil2k (1500)
• India
24 May 07
Only very few gets their Rented house to their liking! You are lucky that you got one. It will be really good if you could own it as soon as possible. As you said, there will always be a problem with the rented houses, for the landlord may ask to vacate at anytime ;(
@mari_skye (1637)
• Philippines
24 May 07
someday God willing i would love to have my own house. im picturing a two-storey house with a front and backyard. full of trees and beautiful shrubs. lovely! but as of now, as i am still single, i prefer renting my own place. i live in the city and its very costly at the moment for me to consider owning a house of my own as they are usually located outside city limits. and i am still considering my options about buying a house, whether i should loan it through a government loan or through the developer.
@senthil2k (1500)
• India
24 May 07
Wow ! Its a very nice visualization ! May God be with you and bless you soon with the lovely home (OWNED) as you wish! Thanks for your response.
@xbrendax (2662)
• United States
24 May 07
I prefer to ( OWN ) a house probably because I never owned anything in my life except a bunch of cats and an old bicycle and I am still renting at my age of 56 !
@senthil2k (1500)
• India
24 May 07
Im sorry! Wish you to own a home very soon . Thanks for your response.
@lingli_78 (12822)
• Australia
24 May 07
of course i will prefer to own my own house as it is like an investment for me and we don't throw away our money for nothing... we get something back... at least we own something... when you rent, your money go to the dustbin just for nothing... again, of course there are other factors to consider of such as insurance, maintenance fee, body corporate and so on... but in the end i still think that owning a house is more worth it rather than renting as you will get what you pay for one day...
1 person likes this
@navtech (1773)
• India
24 May 07
Every human being wants own a house becuase you can do anything in your own house as nobody is going question why you are doing it whereas in a rented house landlord will start asking so many questions. In case you want to modify your room, first of all, you have to take permission from the landlord, he may give or may not give. You cannot live a life of your own choice in rented house whereas if the house is your own you can live as you like it. Some people will prefer rented house considering that so many other expenses can be curtailed such as paying tax, watertax,repairing charges but in the long run they are loosing lot of money that they do not understand.
@castleghost (1304)
• United States
24 May 07
I think that renting is just a waste of money unless you are only going to be in a certain area for a short period of time. I would rent a place if I was just going to be in Seattle for six months. There is no point in my wasting the time to look for a place to buy. Since I have no immediate plans on moving from where I am I think that buying my home would be the way to go. Atleast I would have an investment that I can sell later when I am ready to move on. If I was renting then I would just be helping someone else make money.
@senthil2k (1500)
• India
24 May 07
Yes. Duration of the stay at a particular place too has to be considered before buying a property. Thanks for sharing your idea !
• China
24 May 07
Hello,Senthil2k,as you say it's a simple question to answer.I prefer to own a house as you.Like Cai Qin sing it neednot much room.But it blongs to me.Then I can design it as a comfortable place.There are a living room,two bedrooms(one is for me,the other one for my vositors who want to stay with me all night),a bedroom, a bathroom and a kitchen.The wall should be colourful not the usual white in my livingroom.Here is a big TV and big sofa.On the tea table,there are some fresh fruits and several magazines.My bed must be very soft enough but safe for my body.The wall is pink in my bedroom.Because i think pink stands for romantic.The bathroom is more important than any other room.Sewer pipe must unimpeded.Bath equipment is very facility.I love taking a bath every night.It makes me more relax.Of course a big mirror in it.The wall mmmm...green.I don't like cooking.So i'll install the best cooking utensils.But i will put up two or three grain posting pictures.Hahaha...do you think it's beautiful?
1 person likes this
• China
24 May 07
Hello,Senthil2k,as you say it's a simple question to answer.I prefer to own a house as you.Like Cai Qin sing it neednot much room.But it blongs to me.Then I can design it as a comfortable place.There are a living room,two bedrooms(one is for me,the other one for my vositors who want to stay with me all night),a bedroom, a bathroom and a kitchen.The wall should be colourful not the usual white in my livingroom.Here is a big TV and big sofa.On the tea table ,there are some fresh fruits and several magazines.My bed must be very soft enough but safe for my body.The wall is pink in my bedroom.Because i think pink stands for romantic.The bathroom is more important than any other room.Sewer pipe must unimpeded.Bath equipment is very facility.I love taking a bath every night.It makes me more relax.Of course a big mirror in it.The wall mmmm...green.I don't like cooking.So i'll install the best cooking utensils.But i will put up two or three
1 person likes this