Thread: How does purchasing a home compare with renting?

Money or Maintenance? If I knew what I know now, I would have bought a home much earlier. I spend now in a week with all expenses, than I did what I rented.
Maintence is never ending, but can be fun if you let it.

hi,
Purchasing home means you are increasing your liabilities, and giving house own rent means
some way or other you are increasing your assets, so you should increase your assets not liabilities, well both goes hand in hand.. but when it comes own money then we should use it in constructive way...

In my opinion, purchasing a home is best. It always returns in the best investment; whaddya know, rent isn't even an investment.

Purchase all the way!

It depends on what you can afford. Buying is generally more expensive but you may also be able to make a profit out of it in the long run. In theory buying is preferable but I have seen a lot of people take out unaffordable mortgages and get into problems.

When is it better to rent than to buy? Financially speaking, the rule of thumb is that if you don't stay in a home for at least 3 years, you probably won't break even on the closing expenses incurred while buying it. That is, of course, as long as you're not speculating that property values will rise dramatically. Given the high costs of owning a home, it's possible that you will not see the financial benefits of buying for 5 to 10 years. Besides some potential financial advantages, renting a home offers other benefits. For example, renting relieves you of the risk and headache of maintaining and repairing the structure--if a pipe bursts, it's not your responsibility. Some people also value the flexibility it offers--i.e., the freedom to pull up stakes, not having to go through the process of selling a home. And with lower monthly payments, renting may allow you to save more for a down payment when you do decide to buy.

Here i wanna to say that if you have capable to purchase your own home, it would be much better than rent. Because you can't live according your own choice. You won't permission to create new room according your requirement. If it's your own, you won't have to pay heavy amount as rent. But all depends on your pocket. if it allow than go ahead.