Renting vs Buying! Which is Better?

Many people around the world and not just in Pakistan save up money to move into a house of their own one day but expensive properties make it difficult for many individuals to buy the house they have always dreamt of and then they choose to rent the property as it seems a better option for them at that time.

There are many pros and cons of whether it is better to rent or buy!

• Buying your own house gives you a sense of security and stability and becomes very important when you are looking to start your own family, but this isn’t the case with while renting a house and the owner of the house can ask you to vacate his place whenever he desires and that makes it difficult for you to decide whether to buy or rent 
• Is it better to rent or buy? It all depends on your preferences since when you rent a house you have restrictions on many things and the owner does not like the changes to be made without his prior approval, on the other hand, there are no restrictions when you own your own house because that way you are not answerable to anyone at all and you can do whatever you want.
• Renting vs owning has never been so difficult because of so many options available in the real estate market but if you rent a flat or a house you don’t have to pay the property tax as it is paid by the owner himself while on the other hand, you have to pay property tax yearly if you own a house.
• Buying your own house gives you ownership rights as well which are not present when you rent a house.
• If you don’t have an enormous amount of savings then renting vs buying a house goes out of the question because you only have the option to rent a house because it does not require the same amount of savings as owning a house does and it can get really expensive when you go on to buy your own house.

 

There are many more pros and cons of buy or rent but it all depends on your preference whether you want to live in the house owned by you or you want to live in a house that is owned by someone else and have no sense of ownership and are always dependant on the owner of the house whenever you want to get something done in the house.

 

So before making the most important decision of your life make sure to look at all these facts and figures so you can make an informed decision while considering all the factors that are there in the present and the future.