Which way is more wise?buying an expensive house or renting a cheap house?

If you buy a house then chances are in 30 years (thats about the average payout for a home where I am at) you will own it and will always have a place to live. If you rent for 30 years you could loose your home and have to find a new place to live in your old age.

well this is how i play this business.. well u can rent a cheap place alrite. but think bout this. u can buy a new place with a small downpayment and a certain fixed emi. monthly installments. usually the installments paid every month are almost one adn half to twice teh rental for a month. which makes sense. so its like renting an expensive place but in a few yrs tht will become ur own house. also, another thing i do is that i buy a house on installments. and then in a yrs time i sell it off. making tht extra 20% to 30% on the money tht i never payed. and then buy another house. do the same in a yrs time. by this u can buy ur own house faster. and have a lot many surplus cash left on u.

I would buy a house. If your not exactly the richest person around who says that you have to buy an expensive house? Buy a house that fits how much money you can pay, and then you can slowly pay it off over the years.

hi,zachary,in my opinion, it depends on your notion.if you think a lot of ownership of the house,maybe buying s house is suitable for you.if not,just living without anyhingelse, renting a cheap one maybe wise.