Which is better - renting or buying your own house/place?
By roi452
@roi452 (232)
Philippines
March 10, 2008 10:47pm CST
In the city where i live it's common for young professionals to rent an apartment or condo - this is true especially for those coming from different provinces coming to the city just to work. Others i know opted to buy their own house thru loans - they say it's just like renting, only you'll have your own house after. I am currently renting an apartment with my friends, There are many times i've thought of getting a house for myself but i don't like the idea of having a long financial obligation. Which do you think is better - to rent or get your own house?
2 responses
@dreamy1 (3811)
• United States
11 Mar 08
It depends on the situation. There are pros and cons in both. You have to look at your situation to see if it makes sense for you. With renting there may be less headaches you don't have to pay property taxes you don't have to pay money to fix things if something needs fixing. Owning has it's good points too. Your rent won't keep going up, you get tax deductions, having your own private place that you can fix how every you want, using it to build wealth.
