Home is where we find peace, love and happiness and it could be nestle in any sort of building made of brick and cement called house. A general trend pursued by several countries around the world in 2017, through generic surveys have resulted in to that people are more inclined towards the rented property than actually buying a house for themselves and their family for the most obvious reason of it being more inexpensive and affordable.
Surveys also say that this has happened because of the inflation and price hikes of the properties over the years, while the general income of the bread winner of the house is the same. These price hikes are not the same everywhere but how many people can go and find a house in a specifically cheaper area and location; which is why people tend to find their own personal favorite location and rent a house over there instead of buying a piece of land/house.
Some time ago, the strongest argument against renting of a property was that you are actually going to burn your money that you are paying as the rent, every month, but this argument alone cannot win the battle any longer because whatever way we opt these days for acquiring a house, it is extremely expensive anyway. It is true though that renting will get us a house for the time being whereas a house or property once bought, it will turn up as a good investment for future.
Similarly, it is not a cup of tea to invest in a property of your own. There are numerous charges regarding mortgage repayments, interests, insurances, installments, deposits and payments before possessions. This whole process takes a very long time to complete and what if you need a place to begin living in right away? A rented house has only few papers to fill in and within a week you can get your own place to live in.
There is another misconception, when people are selling their houses that if they will renovate it or remodel it in any way then it will bring them a better price from the buyers in the market, as house improvement will increase the value of the property. In many cases it is better to not spend on the house further if you are giving up on it for reselling.
According to many researches and analysis, following are the pros and cons of both renting and buying a property for you to decide for yourself about which option is most suitable to you…
Learn more about bought or rented properties on Daisy Linden’s personal blog