Is it worth to buy a house?

September 6, 2010 9:16am CST
Good day to you my Fellow Mylotter, Now a days, savings is the most important thing that we must have. But, how about, to own a house. A friend told me - why not to try to get and buy a house. Since, this is also a good savings. Wherein, according to my friend, though I dont have the big earnings, yet, I do have a house of my own. Thinking it thoroughly, it is really good however, nobody will stay there as for the moment. Nevertheless, nobody will take care of the house. Any idea if this is really worth doing?
3 responses
@nangisha (3504)
• Indonesia
6 Sep 10
a house always great investment if you had a money to buy it. The price will grow much faster than a bank interest. I think if you buy it for investment, because you already had a house, you can always rent it to others. You can got double deal a good investment and rent money than you can save.
• Philippines
6 Sep 10
Hello Nangisha, I am also thinking that idea however, I did had a bad experienced in dealing with this type of business. For this reason, I am quite hesitant do it for the second time.
• United States
7 Sep 10
From my point of view, it can no simply say buying house is a good saving or not. Own a house is like investment, so you will have to withstand risks. Hence, you should understand surrounding status. For Example, who is living around your house? How about facilities, supermarket, gas station, entertainmnet,etc? and you should suspect or figure out your target market, who will you sell to in the future? it means your house is able to fullfilll their needs. The more thigs you do, the more you get. Whatever, own a house is good way to save money, sometime, even earn money.
@rajaiv0810 (1013)
• Philippines
6 Sep 10
If you are going to buy a house make sure that you have a purpose for it or else it will not be considered as an investment. Example: You buy a house, enhance it and sell it a higher price then it is definitely a good investment. If the price now is quite low then you would have to wait a little longer to sell. For the mean time you can have it rented so the amortization can be paid or at least some part of it. Don't buy a house if you don't have any plans with it, like not knowing if someone can stay there or not. There is no point in buying such properties like this if it will not give you an income someday unless you yourself would have to live there. Just think of the maintenance and the taxes. You'd rather keep your money at the bank and earn some interests.