Buying or renting property / myLot

Australia

September 5, 2016 12:35am CST

I am looking to buy my first investment property and wanted to know people's thoughts about renting or buying property. Renting is properly cheaper in the short term but in the long term you would pay more renting than buying. What are people's thoughts?

6 people like this

8 responses

Yuki

@yukimori (10144)

• United States

5 Sep 16

I'm a fan of renting, personally. If something breaks, I make a phone call and the property manager sends someone out to fix it in a reasonable amount of time. Doesn't cost me a cent, either.

1 person likes this

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IlijaMarkovski

@IlijaMarkovski (1056)

• Australia

5 Sep 16

Hopefully the house doesn't need a lot of renovating to be done and I can pick it up for a reasonable price.

hope

hereandthere

@hereandthere (45651)

• Philippines

5 Sep 16

do they come and fix it immediately?

Yuki

@yukimori (10144)

• United States

5 Sep 16

@hereandthere It depends on what the problem is. Certain things they have to fix immediately, like if there was a problem with the water heater. Other things, like shingles coming off the roof, aren't as important so it might be a week or so before they get someone out to deal with the problem.

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Pinay Ako

@AkoPinay (11544)

• Philippines

5 Sep 16

Of course buying is better. You can do what you want without asking permission from landlords. .

1 person likes this

IlijaMarkovski

@IlijaMarkovski (1056)

• Australia

5 Sep 16

Yes you buy and it's yours.

1 person likes this

Pinay Ako

@AkoPinay (11544)

• Philippines

5 Sep 16

@IlijaMarkovski yeah

Lee Ka

@kaka135 (14916)

• Malaysia

6 Sep 16

I'd prefer to buy the property if I can afford it. As you said, it's better in long run, and the property belongs to you. I can decorate or renovate the house as I wish too. Moreover, the price of property usually goes up. So I think it's wise to invest in property. Of course, the location matters too.