To Rent or To Own House - What should You Choose?

Published on Thursday, 21 October 2010

To Rent or To Own House - What should You Choose? One of the most basic needs of man is a home. You will eventually reach the point where you have to move out from your parents' house and find a lace for yourself. Usually, you have two options: to rent or to buy your own home. Both have their own pros and cons, and we'll take a look at each detail closely so you can weigh out which could be the better option for you. Why Rent a House? Many people prefer a rented house because it is a lot cheaper compared to buying a house. A rented house may also give you a sense of freedom. There are many problems that you might encounter as you settle-noisy neighbors, difficult landlord etc. After some time, you may want to move to a new place. If you own a home, you have to go through the trouble of selling your house before you can actually move. With a rented home, you can simply pack your bags and go. This can be a great option if your job requires you to move a lot. The Plus Side of Homeownership The biggest advantage of owning a house is merely that-ownership. You may be renting your house for decades but you will never get the right to own the property. You will soon feel that all your hard-earned money is just going down drain. When you own a house, you can take advantage of many tax benefits, the value of your home will appreciate and you will have a higher net worth.