family and house? any opinion?

As far as I can remember, my parents have rented a house for all of us for two or three decades before they were able to purchase a house and lot in the province. This was loaned thru PAG-IBIG housing loan, a local lending and saving government institution. And fortunately, they have already fully paid the amortizations before reaching their retirement age. I absolutely feel that renting is more expensive than purchasing a house whether outright or through several amortizations. Buying a house and paying it gradually is just like a rent-to-own scheme. However, the difference between renting and owning a house is that in the former, you pay and pay a rental fee for numerous months and even years but the house can never be yours. Having your own house is very advantageous as you will not need to worry about paying the rent after paying the amortizations in full. In the long run, you will only pay the electric and water bill. As with the house, the local government imposes a real estate tax which the owner needs to pay on a yearly basis. But this is not so expensive as compared with a yearly rent. And also, you could do renovations on the property as it is your own. But during these hard-stricken times, one could not do as he pleases particularly if he only earns a little. Sometimes, we are forced to rent because our money isn't enough to buy a house right away. It's adviseable, though, that while a person is still single, he could avail of housing loan programs offerred in his work or by the government so that when he decides to get married, he wouldn't be burdened by expensive rental fees and usurious owners. This is one of my dreams for my own family. I'm already married for more than five years now and we do have our daughter who is turning three this year. Unfortunately, our salaries don't permit us to save as much for a lot and house as we still have an outstanding balance from our credit cards which is quite heavy on the pocket. At present, we are renting an apartment here in the city which we share with my three siblings. About three months ago, my husband and I decided that one of us would go abroad to work. This is a big decision but we have to do this sacrifice not only for our daughter's future education, but also for the fulfillment of all of our dreams not only for our own family but for our parents, siblings, and relatives, too.

Yes, for years I was a "renter" and thought it would be too hard to get a place of my own. Plus when I moved to the city (Auckland) in 1997 my son invited me to move in with him at his rented place, and so it was like he was taking care of me, even though we both had our own jobs and paid halves in everything. Well then he got married in 2001 and I decided I'd better take responsibility for my own situation, and I scraped together a small deposit and found the cheapest house I could. I bought it, and stayed there for a year, then sold at a profit and bought a nice brick apartment closer to my son and his wife. But then when I was made redundant at my job, I couldn't afford the mortgage payments and so I sold that apartment, and bought a cottage out of the city, near to my daughter and grandchildren. I had made enough to pay for the cottage outright, and still have some left over (which has now almost all gone, though). A big plus is that my oldest grandson asked to come and live with me. That made me very happy, and although he is just an apprentice he does give me a small payment each week to help out financially. I love his company. So I'd encourage you to try to get your own place if you can. Especially when you have family looking to you for help!