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The Benefit Of Buying Real Estate Vs. Renting
>> Monday, July 23, 2012
How many people do you know that own their own house? Do you ever wonder why they would rather own a house than rent? Many people think that renting is cheaper, but the truth is that it is only cheap for a little while and then it really goes up.
What you need to know is that there are plenty of benefits to both owning and renting a house. For right now, I want to show you why owning a house is much better than renting one if you can. If you are able to buy a house, then you should definitely do that. If you think you will be fine renting for the rest of your life, then you are making a big mistake that you will regret at some point.
Reasons To Buy Over Rent
Cheaper Long Term - One of the things that you will notice about buying a home over renting it is that it will be much cheaper in the long term. If you think about a rental that costs $1,000 a month against a house that costs $1,200 a month you will end up paying less over the course of 50 years because for most people they will pay it off in 30 years and the other 20 years they will be living rent free.
Great Investment - If you know much about investments, then you know that everybody recommends a house as your biggest investment out there. Just think about it, when you are buying a home you will usually have it all paid off in just 30 years and then you live free or charge. Not only that, but in 30 years your house will be worth much more than it is worth right now and that is a great way to increase your net worth and hopefully have money saved up for retirement.
You Stay In Control - When you rent a house the biggest problem that you might have is that you don't control anything. A big issue that you may run into is that the owner can sell a house with you in it and you have no control over it unless you signed a lease. So, if you like to have control over what you do and how you live, then renting is a great thing for you but if that is not the case, then buy a house.
What most people don't understand is that renting does have its benefits, however, they are normally short-lived. This is why you should start out renting a home and then when the time is right and you have the money, buy your very first house.
What you need to know is that there are plenty of benefits to both owning and renting a house. For right now, I want to show you why owning a house is much better than renting one if you can. If you are able to buy a house, then you should definitely do that. If you think you will be fine renting for the rest of your life, then you are making a big mistake that you will regret at some point.
Reasons To Buy Over Rent
Cheaper Long Term - One of the things that you will notice about buying a home over renting it is that it will be much cheaper in the long term. If you think about a rental that costs $1,000 a month against a house that costs $1,200 a month you will end up paying less over the course of 50 years because for most people they will pay it off in 30 years and the other 20 years they will be living rent free.
Great Investment - If you know much about investments, then you know that everybody recommends a house as your biggest investment out there. Just think about it, when you are buying a home you will usually have it all paid off in just 30 years and then you live free or charge. Not only that, but in 30 years your house will be worth much more than it is worth right now and that is a great way to increase your net worth and hopefully have money saved up for retirement.
You Stay In Control - When you rent a house the biggest problem that you might have is that you don't control anything. A big issue that you may run into is that the owner can sell a house with you in it and you have no control over it unless you signed a lease. So, if you like to have control over what you do and how you live, then renting is a great thing for you but if that is not the case, then buy a house.
What most people don't understand is that renting does have its benefits, however, they are normally short-lived. This is why you should start out renting a home and then when the time is right and you have the money, buy your very first house.
About the Author:
If you have properties that you want to make money off of, then click here to learn more about how you can do that. Just know that if you want to earn cash now with real estate, then you need to take your time and do things right.
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