Is it really worth it to buy a House?

@suzieque (2342)
Canada
November 5, 2006 6:50pm CST
If you had to mortgage it? You have to pay for property tax, mortgage, the utility bills, ect. So is it better to rent? What's your opinion?
2 people like this
26 responses
@oresal (1351)
• El Salvador
6 Nov 06
In my case i prefer to have my own house, you have lots of bills but at the end you know you own your own property and no one can kick you out, if you need money and need to sell you sell.
@suzieque (2342)
• Canada
6 Nov 06
GOod point!
• United States
6 Nov 06
Yep, I agree and it seems like when renting you are just throwing your money away.
1 person likes this
• Canada
7 Nov 06
I would prefer to own a house, but in order to do so one must have an income which is sufficient to cover the mortgage, property taxes, and repair anything that gets broken. Plus you have to mow your own lawn, and if you live where it snows do your own snow removal. Still it is better to own your home. You can pay rent for 20 years and have a landlord shovel your snow, and fix any necessary items like a water heater...but at the end of that 20 years you could be out on your ear. That won't happen if you pay off your mortgage...so definitely better to own a home. It's an investment of sorts really.
@srhelmer (6933)
• Beaver Dam, Wisconsin
6 Nov 06
Well, we just purchased a home and, it is definitely more expensive. However, I can do what I want with the property. I don't have to deal with a landlord (our last one has yet to return our security deposit) and, 30 years from now (or sooner, if I can)I will own the house outright. I can't say that about renting.
1 person likes this
@suzieque (2342)
• Canada
6 Nov 06
Congratulations on your new purchase.
• United States
6 Nov 06
Owning always.
1 person likes this
@suzieque (2342)
• Canada
6 Nov 06
Thanks for the comment.
@Dominator (223)
• United States
6 Nov 06
theres no better satasfaction as OWNing your home i wouldnt have it any other way i rented for years and my wife and i bought our home last year and we love it..it was a little hard because alot off ppl turned us down cause of our age but when it came down to it we make enough and was finaly aproved..as far as utils you stil have that when renting morage is not much more than renting(and whata ya know you can do as u please when u own it)as far as taxs go yea uou have to pay that but there not much..so id have to say Owning your home is the best way to go by far
1 person likes this
@suzieque (2342)
• Canada
6 Nov 06
When you say it like that, owning a house sounds like the better choice!
• China
6 Nov 06
I think it's better rent, because the house price is skyrocketing all the time and seems wont stop forever, at least, it not the right time to buy the house for now, maybe considering buying house when the price collapses. .
@suzieque (2342)
• Canada
6 Nov 06
Another good point!
@tmnjyk (3490)
• Canada
6 Nov 06
I studied Accounting, and I remember my professor taught us to buy and not to rent. His favorite words was TO RENT IS JUST A WASTE OF MONEY. I personally believe on that, I would rather invest spend and be in debt for 25 years than to rent.
@suzieque (2342)
• Canada
7 Nov 06
Thanks for the comment and smart teacher.
@Aali311 (6127)
• United States
7 Nov 06
yes I agree, renting is a waste of money.
• India
7 Nov 06
yes it is really worth to buy a house
@suzieque (2342)
• Canada
13 Nov 06
Thanks for the comment.
@Sunset50 (1397)
• United States
7 Nov 06
I didn't like renting a house and was so happy when we bought ours. I have a half an acre lot outside of town so it's quiet here. I can have pets, decorate it in anyway I want, cook outs for family and friends in the summer with a big yard for everyone to run around in. I have my house paid off, so I only have to pay taxes and insurance now. Since hubby and I agree to save for what we think we need instead of getting loans and credit cards, I only have the monthly utilities, phone, cable, internet and one car loan to pay for so we basically live alot cheaper than we did when we rented. I would hate to have to rent again.
@suzieque (2342)
• Canada
12 Nov 06
That's great!
@Aali311 (6127)
• United States
7 Nov 06
There is alot more advantage to owning a home. Like the investment. I'm hoping to buy a house soon, I'm tired of renting.
@suzieque (2342)
• Canada
8 Nov 06
I hope you save up to buy a house soon!
@tusharb (3160)
• India
7 Nov 06
nops.... rent is worst
@suzieque (2342)
• Canada
7 Nov 06
Thanks for the comment.
@jean1953 (30)
• United States
6 Nov 06
a house is like a savings account. You pay that mortgage every month and you are putting money in the bank in the way of equity. There is no comparison to renting vs home ownership. Why would you want to line someone elses bank account???
@suzieque (2342)
• Canada
7 Nov 06
Thanks for the comment.
@sevenseas (754)
• United States
6 Nov 06
It may equal out financially from month to month, but if you own your own home, it's yours and worth the sacrifice of having to pay for it. You also will have nothing when you get old to live in if you don't figure out a way to get a house paid for.
@suzieque (2342)
• Canada
6 Nov 06
very true.
@manzician (4739)
• India
6 Nov 06
Why not... Its really a good deal...Aneewayz... Thanks for your question.... Its really nice to be here at mylot... Are you guys here for money or just for funn....
@suzieque (2342)
• Canada
6 Nov 06
I think I'm here for fun and information or things I don't understand and need advice on. Because you really can't make a lot here. But the money is an added accentive.
• United States
6 Nov 06
Absolutely, it's better to own than to rent, However it's best to own the property free and clear, no mortgage.
@suzieque (2342)
• Canada
6 Nov 06
Not many people can buy a house without mortgaging it. But it would be nice if we had the money to pay for it.
• United States
6 Nov 06
I think it worth to buy a house and own it even though you get property tax, mortage and other bills. because end of the road, it will be yours. If you rent, you just waste your money every month for the place you never going to own.
@suzieque (2342)
• Canada
6 Nov 06
Thanks for the comment.
• United States
6 Nov 06
well you can pay 500.00 a month to rent or you can pay that to buy. at the end of 20 yrs you have something that is yours. you cant say that with rent
@suzieque (2342)
• Canada
6 Nov 06
That's true.
@kgwat70 (13396)
• United States
6 Nov 06
In my opinion, it is better to have your own house than it is to rent because it is your property and you can do what you want with it and decorate it the way you want and make additions to it. Renting a place you are restricted in what you can do and you can't call it your own. When it comes to tax time, it is good to be a homeowner.
@suzieque (2342)
• Canada
6 Nov 06
That's true, you can decorate however you want.
• China
7 Feb 07
i think that a man should have his own house.because a house is "home".From home,you can feel that you are "safe" in you "home".
@brurib (1529)
• United States
14 Nov 06
i think so. i will have to buy i own house
@stru9559 (634)
• United States
14 Nov 06
depending upon your credit score you can get very low payments for buying a house - In my case I bought a house much bigger and better than the tiny apartment I was renting and only am paying an extra $100 a month for my mortgage. Depending the state you live in property tax really isn't all that bad - maybe an extra $40.00 a month. Most of the utility bills you mentioned you would be paying anyway if you were renting. Owning your house is by far the best option to me! You actually own something and you're not throwing away your money every month! Real estate is one of the best investments you will ever make!