Do you prefer to buy a house or stay in a rented one?

@Naxous (968)
India
June 18, 2010 12:41am CST
I always had this thought in my mind that it is better to live in a rented house.You can get rid of the hassles of maintaining the house just by paying a monthly rent and the owner takes care of everything.Whereas in a house owned by you you will have to put aside money to carry on regular repairs and additions and alterations which is a cumbersome process.Still nowadays buying a house is considered to be a better proposition than renting though I believe that renting is better.The money that is used in buying an immovable asset like a house can be used in a better way.What do you think?
1 person likes this
24 responses
@cupkitties (6689)
• United States
18 Jun 10
I like the idea of having something fully paid off so I'm with owning the house. If you rent a home you have to follow someone else rules. If you decide that orange wall paper is looking hideous with that blue floor tile there is nothing you can do about it. That kind of living is not for me.
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@Naxous (968)
• India
18 Jun 10
Yeah I agree with you friend that there is not much that you can do about the rented apartments looks but you can change the look of your own house if you are not satisfied with it.Thanks for your comment and happy mylotting.
• Mexico
18 Jun 10
Hi cupkitties: I think in the same way as you do. Maybe it's my parent's but I've always thought that there's nothing better than having your things for your own. If it's your house you can do whatever you want with it. You are not determinated by other's will, and not every renter is good with the householders, I have to add. Well, thanks for your answer. Have a nice day. ALVARO
• United States
19 Jun 10
I like the idea of owning my own home because I can do what I want when I want without having to ask a landlord. However, there's an upside and a downside to either owning or renting. Just as you said, you don't have to worry about the repairs and such but you have someone to answer to which is the landlord. Another downside to owning is the property taxes. You don't really own anything because of that so it's an on going process no matter which way you go but owning a home, you do get your money back if you were to sell, providing you've kept the upkeep on the home in good shape.
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@Naxous (968)
• India
19 Jun 10
Hi retiredarmyman you discussed about both the sides of the coin with certain amount of clarity and I appreciate you for that.Thanks for your response and have a nice weekend.
@sunnycool (12737)
• India
19 Jun 10
I would prefer to own a house than to keep on paying rent to the owner.In my place,there are people who bought a house for $100 some ten years back and it costs more than $20,000 now(upto $50,000 depending on the Location)---which is nothing but a profit and you kept on saving lot of money in the form of rent coz you would be living your own house.great day.
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@Naxous (968)
• India
19 Jun 10
Thanks for your response and have a nice weekend.
@bettydeng5 (1696)
• China
19 Jun 10
I like to buy a house than rented one, if rented the others hourse, it's not steady, sometimes need to move, it's so complexed. However if your own hourse, you can fitment the house as per your requirement, and you don't need to move always. So I prefer to buy a house than rent one.
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@Naxous (968)
• India
19 Jun 10
Thanks for your response.
@sagar21 (1583)
• India
19 Jun 10
I prefer buying a house to staying in a rented one........ And more than buying..I like building my own..I own 2 houses... If one needs to buy a house..care should be taken..not to get fooled... Like you said if one is a frequent traveler..or get job transfers....then better option would be renting..one...lots of money could be saved... Anyway house is a must have asset.... thanks for sharing.. have a great day/night......
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@Naxous (968)
• India
19 Jun 10
Thanks for your response buddy.
• India
19 Jun 10
I do not want to stay in rental house. Currently I am staying in rental house at Pune but want to own a house in the city. I have big home in village where only my parents stay with my grandmother, I cannot stay there as working at Pune. I have to change rental house after every 11 months as per agreement and pay brokrage for the next house in addition to the deposit which is very high.
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@Naxous (968)
• India
19 Jun 10
You definitely have a genuine problem Ajay and you are absolutely right .The only way to get rid of this situation is to have a house of your own.Thanks for your response.
@RobtheRock (2485)
• United States
19 Jun 10
I had inherited my house from my grandparents and I was unable to maintain it. I agree, it does take a lot of money to maintain it. But I miss my house. Now I rent and the drawback is that when you rent, you can be evicted. Plus having your own house, you can practically do whatever you want in it.
@Naxous (968)
• India
19 Jun 10
It is really unfortunate that you are unable to maintain your house that you inherited from your grand parents.Thanks for your response.
• United States
18 Jun 10
Although it is purely a matter of personal preference, I like owning my own home. I have never rented, although my career field happens to be in real estate so I own a few rental properties that others rent out. I like knowing that I am in charge of anything that is done to the house...that I am allowed to paint it, change it, etc. to fit my personal style. As a landlord, I can understand why other people believe having someone else fix things and all that is a benefit, but I would find it irritating to have to wait on someone else to fix something, not to mention I would want control over how it was fixed and by which company, etc. Then there is also the fear of the unknown...any minute, your landlord could decide to move in another tenant if your lease is up, or perhaps your landlord sells the property to another, and the next landlord is an awful person. So, once again, I like owning the home that my husband and I bought last year. Because of the economy, we got an awesome deal. Our mortgage is $418 per month, when people are renting out the same sized homes for about $1000 per month, and that money doesn't go toward boosting your credit, it simply pays your landlord's mortgages. For those people who like to rent more than own, I respect that decision. After all, people like that gave me my job!
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@Naxous (968)
• India
19 Jun 10
Well worded LovingLife.Your ideas are thought provoking and are indeed great.Thanks for your response.
18 Jun 10
Hi Naxous. I think you have a very valid point there. I personally rent my home but that is through necessity. I am not financially able to purchase a home. Unfortunately it can take a while for the landlords to sort out maintenance and repairs! Owning your own property does have the advantage that you can make alterations and repairs without having to ask permission.
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@Naxous (968)
• India
19 Jun 10
Thanks for your response friend.
@marguicha (76312)
• Chile
18 Jun 10
I like to have a house of my own. I can remodel it, do whatever I want with no rules and I don´t mind repairing things if it is for my own good. Now I´m planning a vegetable garde. I´ll take out part of the lawn to do it. If I were in a rented house, I would have to ask for permision. Every once in a while, I call my froends for a painting party and change the colour of a room. The painters bring the wineand salads. I have an awesome main dish and dessert.
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@Naxous (968)
• India
19 Jun 10
Thanks for your response friend and happy weekend.
• Mexico
18 Jun 10
Hi Naxous: I don't have to hesitate. I'd prefer to have my own house, simply because, if the house it's not your, they can tell you that you have to leave the house whenever they want, even if you pay because you are not the owner. And I love the place where I live, at the same time, I have always heard that, buying properties is a good business because there will be always someone that will buy or rent your house and if you take care of the house, its price will be higher in the future. Thanks for asking us this question. Have a nice day. ALVARO
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@Naxous (968)
• India
18 Jun 10
Thank you for your response and have a nice weekend.
@indahfth (11173)
• Indonesia
18 Jun 10
I really want to buy a house, but right now I have not been able to buy a home. Now, I'm still renting a house. It feels very uncomfortable. Because every year I have to think of the money to pay the rent. I am always instantly feel desperate with this situation, I would love to buy a house, but it seemed only a dream.
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@Naxous (968)
• India
18 Jun 10
Don't be so pessimistic friend.Of course some day you will be able to have your dream home.Let me tell you that I am also on rent at the present moment and I am in a dilemma whether to buy a house in the future or carry on with renting houses.Even I don't have the means right now to buy a house for myself but I am sure that someday I will be able to buy one.So don't ever lose hope and always keep on trying.
• United States
18 Jun 10
I would rather buy a house. That way I could do as I please with the house and land. Renting prolly get expensive but you can move when you want when you get tired of the house or where you live. But I would still rather buy my own house and plus its something you can leave your kids to live in or to sell.
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@Naxous (968)
• India
18 Jun 10
Thanks for your response.
@_Honey_ (781)
• Philippines
18 Jun 10
Hello Naxous, I'd still prefer to have my own house and lot. House and lot are assets that never decrease their value. It increases over time and if you can also have it rented by someone else. And this becomes a good source of income. I always think that I want to have my own house and lot especially by the time I get old. I don't want to get old living under someone else's roof by then. Cheers, Honey
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@Naxous (968)
• India
18 Jun 10
Thanks for your response friend and I am quite sure that you will have your dream come true much before you are old.
@sender621 (14956)
• United States
18 Jun 10
I would prefer to buy a houae. When you rent, the home belongs to someone else. you could still be saddled with maintaining the residence even though you would have no ownership. There is nothing like owning a home of your home.
@Naxous (968)
• India
18 Jun 10
Thanks for your response.
• China
18 Jun 10
The house will belong to you when you spend money on buying house. When you rent house you have to give money to other people,even the house doesnot belongs to you. The feeling of own and others are not difference to me,so I prefer to buy a house.
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@Naxous (968)
• India
18 Jun 10
I can understand your feeling.However the last sentence in your comment is not understood by me.Can you please elaborate?
@med889 (5958)
18 Jun 10
I have always stayed in houses which my parents have bought and I just cannot imagine living in a house which is rented because we have to abide to many rules of the land owner and thus living for the sake of getting a roof to cover ourselves. I prefer a house I have bought myself than a rented one though, as I can be free in my own house by doing many things I wish for.
@Naxous (968)
• India
18 Jun 10
You are lucky enough to have an ancestral house however everybody is not as lucky as you are.Staying in your own house it will be difficult for you to adjust in a rented accommodation and I can understand your feeling.Thanks for your response.
@edorms36 (266)
• United Arab Emirates
18 Jun 10
Hello there Naxous! I am sorry but I beg to disagree with you, as you can see even if you are renting you still have to spend also on some fixtures that you may really need so you can have a better place to live and relax and this money you are spending on the rented house will even go to waste because you are spending on a property to beautify it into something which is not yours unlike if the place you are already living in is already yours you can do as you wish and invest on it to make it a real home and at the end of the day the money you spent to beautify it is worth every penny beacause its kept on your own house and you have built for something to be proud of and in case you might want to migrate to other places then this can serve as your investment, either you let it out or you sell it, the money spent will come back to you and it can be doubled on its market value.
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@Naxous (968)
• India
18 Jun 10
Very well worded response edorms36.You threw light upon a different perspective which I didn't take into account before.But don't you think that it will be a bit difficult to sell a house at one go.I have known people who are unable to sell their house even after moving away to a different place since the last eight years.
• China
18 Jun 10
Hi, Naxous Of course I want to buy my own house, but right now, I m just a student. I have no enough money to buy my own house. I still stay in a rented house. I know, I will buy my own house and live into there with my family in my future.
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@Naxous (968)
• India
18 Jun 10
Definitely you will friend and I don't have any doubt that you will be able to buy a house for yourself and your family.Thanks for your response.
@Savvynlady (3686)
• United States
18 Jun 10
Most definitely buy a house. nope, a rented one should be until you can get the one you can buy. but of course, folks stay in those houses thinking they cannot do any better. Folks don't want to buy a house either with all the houses that went belly up and folks had to walk away from them.
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@Naxous (968)
• India
18 Jun 10
Thanks for your response and sharing your thought with us.