5 Arguments That Explain The Perks Of Buying Vs Renting A House

5 Arguments That Explain The Perks Of Buying Vs Renting A House

Recently, we see a lot of discussions on ‘buying vs renting’ a house. A lot of people act quite smart and point out that for the same amount that we repay as loan when buying a house, we can live in a more comfortable place for the same cost when we rent. That is indeed correct but this is just how we are today. We look into only the tip of the iceberg and not the whole picture. Buying a house and renting a house are two different things. Buying a house is an investment while renting a house is just an expense.

Financial awareness is great! The fact that people bother about investing their money and think about the best way to do so is good but it’s better to know nothing rather than know a little and fill up the rest using assumptions. So, if you are confused on whether you should actually invest your money in buying a house or simply rent out a comfortable apartment, read on!

1. Buy A House / Property Is Never A Bad Investment

Buying a house is never a bad investment. In fact, it is the best kind of investment one can make for a secure future in today’s world. Especially considering the fact that we are fast moving to a culture where we kids don’t necessarily take care of their parents, it is necessary for one and all to own a house that you can rely on as a valuable asset.

2. There Is An Emotion Attached To It

Now, only someone who owns a house or has worked hard to pay loans and buy one will relate to this. There is an emotional quotient attached to having your own house, something you can rely upon, a space that will give you joy and see your sorrows, watch your family grow and prosper over the years. Could you have asked for more?

Like they say, the three basic needs of life are food, clothing and shelter. So, it is indeed an unmatched happiness to have a roof upon your head, the one that you can claim as your own.

3. You Cannot Afford Renting All The Time

Okay, let’s face it now, we are not going to be earning forever! There is a time when we will retire, be jobless or in dire need of money. Would you be able to rent out a house your whole life then? The perks of renting stop at the point where your active income stops.

This is why they say, owning a house is the best investment. You buy a house now, repay the loan while you are working and boom, by the time you retire, you will be done with all the financial liabilities and you would have a property in your own name at your disposal.

4. You Can Simply Sell Out Your House Later And Make Instant Money

Oh yeah, once you own a house, you have this real easy option of selling it off at any point of time or renting it so as to make instant money. In fact, a lot of people have been doing this for many years now, and trust us they have made lakhs out of it. Because property is an asset whose value never depreciates, it is a sure shot investment that will gain you returns.

The prices of shares may fall and the market may turn upside down. But you can always be assured that you will make a good sum of money when you sell off your house later.

5. It Promises Security

Admit it, you just can’t argue with us on this; the owner of your rented flat may ask you to leave after the contract ends or want to sell off his house at some point of time. Can you imagine how tedious and difficult it can be to keep shifting houses all the time?

On the contrary, an owned house will remain yours all your while and no one can take it away from you. Whether you live in it or not, an owned property will always give you profitable results and ensure complete security.

Some people may debate on this saying that a job is no more in a fixed location and that people keep moving from one place to another for a different job but riddle us on this. What percentage of the population is in this kind of a situation? People want stability once they settle down and start a family. The first thing they need when they talk about stability is a house. Priorities have changed in the last few years but reality hasn’t and that is a fact.

Buying a house should always be a part of your agenda. Not that we are cynical about kids caring for parents but I’m just talking about what is happening. Rent is always going to be a major expense and you cannot move to a smaller place when you retire. Even if you don’t plan on living a long life, rental expense will be a major part your budget. Once active income stops, you don’t have much to cover that expense. Breaking your long term investments at that point is not as safe as you think.

We are not advising everyone to buy a house. Neither are we asking you to own multiple houses. But when you retire, you are better off owning a house in a location of your choice. All our investment plans should include a portion of our life where we are retired. Unless we realize the gravity of the situation, we can keep spending in the present only to come to a situation where we will be left in a fix regarding the biggest expense we will face at that point in time.

(In Association with A Voice For The Everyman)

Q is a wannabe writer whose biggest passion is writing. (Not that he's any good at it). Still in the early stages, open to criticism and in the process of penning novels and small snippets on everyday things that affect him. Also the author of https://www.facebook.com/AVoiceForTheEveryman/

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6 Comments

  • Sheetal (halo of books) October 27, 2016 05.20 pm

    I am totally agree with all of the above points. Thanks for sharing. This is really helpful for the youngsters like us!

    Reply 
    • Pooja Kshirsagar October 27, 2016 05.57 pm

      Thanks Sheetal 🙂

      Reply 
  • Smeet October 29, 2016 07.34 pm

    Ohh yeahh!
    2nd argument is what i feel these days…
    Very well written.

    Reply 
    • Pooja Kshirsagar November 12, 2016 06.23 pm

      Thanks Smeet 🙂

      Reply 
  • Marilyn91 November 03, 2016 12.49 pm

    I see your site is similar to my site. Do you allow guest posts?
    I can write high quality & unique posts for you. Let me know
    if you are interested.

    Reply 
    • Pooja Kshirsagar November 12, 2016 06.23 pm

      Hi Marilyn, Thanks a lot for visiting my site and taking time out to comment. I would definitely encourage guest posting. Please get in touch with me at whatsinbuzz@gmail.com !

      Reply 

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