If you ask someone whether renting a house is wiser or buying a house, you will find a set of answers that strongly advocate that renting is better due to the unaffordable buying values of homes. On the other hand, you will also come across another set of people who think that paying rent month on month is a waste of money and has no long-term returns.
Having successfully been in business for X years, we have weighed the pros and cons of both and if you ask us, investing in a home always tops renting one. Not only is it financially more practical in the long run, but when you invest in a home, you also invest in stability, a more secure future, and a living establishment for your future generations.
Let’s go through some MAJOR reasons as to why investing is always a MUCH better option than renting:
- A one-time buy
Although monthly rent seems super affordable, when you think of it from a long-term perspective, you are paying rent every month for years and years. And after all that money spent, you still don’t have your own home.
While buying a property can feel like a major investment in one go, with you figuring out your life savings trying able to afford that dream home, you are actually investing in your life-time home ONCE and introducing financial security in your life – Not just yours, your kids and their kids, and so on and so forth.
- Additional Uses
As mentioned above, this ONE-TIME investment will give you your lifelong home. But, other than self-occupancy you can also benefit through other avenues such as income generation in the form of rent or even asset expansion.
- Security and stability
The biggest downside of living in a rented apartment is insecurity. There is no sense of stability and security with the short-stay period that comes with rented homes.
Having your own home means possession for as long as you and your future generations want. It makes for a more stable and secure future for you and your family.
- Freedom and space
Unlike staying in a rented house, having your own home also means having exclusive rights and access to the space. You have the freedom to leave, enter, renovate, repair, and do as you wish without any disturbance or interruption from outside parties or brokers.
- Overall well-being
Once you have invested in a home, your base has been set. The pride and freedom that comes with owning a home can never be experienced when one is dependent on a rented flat. It brings many joys and such intangible benefits that can never be measured.
All in all, owning a home brings measurable financial security and stability. But moreover, it brings peace of mind and comfort, which is immeasurable yet necessary.
It’s where you enjoy when the times are great and seek comfort when they’re not.
At the end of the day, there is no better feeling than coming home.