· Is it better to rent or buy? Give reasons for your answer. ?

Question

· Is it better to rent or buy? Give reasons for your answer. ?

Answer 1

Buying your home is better as you always have that equity

Answer 2

In my opinion, buying is better for the following reasons:

Payments go toward the house and build equity . With renting, payments don't improve your financial standing, they just keep a roof over your head

Owning a house entitles you to certain tax benefits (which vary). This generally means you will pay less taxes.

Prices in most markets are at a significant low. If you plan on staying in the house at least 5 years, now is a great time to buy.

An up-to-date mortgage can improve your credit rating

You can, at a later date, borrow against the equity in your home to fund remodeling, vacations, etc.

There are also downsides, however, that renters do not face:

Buying a home requires a lot more resources - usually 20% down is required to avoid having to pay PMI (private mortgage insurance). PMI can add $100-300 permonth to your payment.

You will have to pay property taxes, which vary greatly depending on where you live - they can triple within a 50 mile span.

You will need homeowners insurance, which is generally more costly than renter's insurance

You will be responsible for any repairs, upkeep, etc, while renters have the property owner to handle that.

If you have the resources to buy, then I would definately recommend buying. Talk to a realtor and find out what is in your price range, see what you could get a loan for, and find out about property taxes and closing fees you would be responsible for. Once you have a good idea of the initial down payment (keep in mind there may be first-time buyer loans and programs available) and monthly costs, that will give you a better idea on what the monthly payment would be.

Answer 3

"Rent or buy" what?

Answer 4

When you buy it is yours and equity is in the item, except when it is a car, truck or any other depreciating item. I assume we are talking about real estate.

When renting, you pay and pay and pay with no positive assets.

When renting, you give others money and maybe tax included and other fees, such as security deposit which many do not like to return at the end of the contract.

When owning, it is a one price outlay and it is yours then to sell or rent.

Answer 5

If you are sure you will be working in the same place for the next 5-10 years or that you have the time for maintenance(no overtime) and travel you might be better off buying.

Answer 6

Depends....how on how much you like the movie.  Rent the movie if you are just curious.  Buy the movie if you plan on watching it numerous times, and perhaps showing it to people

Answer 7

if you rent then yes you have rent to pay but all repairs etc are included in the price

if you buy then you have a monthly mortgage but you also have your own repairs etc to pay for

ya cant say which is  better because it depends on circumstance and budget

good luck whatever ya decide