Rent or own?

@anna728 (1499)
United States
August 6, 2009 8:59pm CST
Would you rather rent or own a house? If you buy it, a house is an investment. But on the other hand that means you have to take on debt and get a mortgage to afford it. So which would you rather do?
1 person likes this
7 responses
@morgandrake (2136)
• United States
11 Aug 09
Having done both, I much prefer owning a house despite all the expense and upkeep. I positively loathed my last two landlords. Heaven forbid something broke; it would take an act of congress to get anything fixed. And I do not have to worry about landlord complaining about all the books that I have stacked up everywhere.
• Abernathy, Texas
14 Aug 09
I can understand your comment about books! Both my reading and my writing aren't hobbies but fire hazards!
@abenitez (501)
• United States
7 Aug 09
It depends on the house. By renting you are not stuck so for me to own the house it will have to be the home that I truly want to live in, and owning a house is not really an investment. That is just what they tell you to make it sound very good. After taking Finance classes you learn that it is very hard to just break even when you go to sell the house. The expenses are far more than the mortgage and when you add them all up plus the interest you pay on the mortgage you are lucky to break even. This is coming from real estate agents and finance instructors.
@anna728 (1499)
• United States
9 Aug 09
Hmm yeah there are all those other things.. and never knowing how the market will be at the time you would want to sell, too. I suppose it can be risky. Unless you know that you pretty much just want to live there for good.
@artemis432 (7474)
• Abernathy, Texas
14 Aug 09
If I had my druthers, I would own. No landlords to contend with if something is broken. And I can be as self sufficient as I want to be, off grid, greenhouse etc.
• United States
7 Aug 09
Own,IHATE Land lords
@anna728 (1499)
• United States
9 Aug 09
haha- good point! One less thing to worry about.
@hagirl (1295)
• United States
9 Aug 09
I would rather own instead of renting. Not only is it an investment but you have the capacity to fix it up the way you want too. IT is yours and nonone can tell you to leave. Besides the money you pay in rent could be put to a nice home. Sit down sometime and figure all the money you have put in rent and see if you could have owned or almost owned a home. I bet you will be surprised.
• United States
7 Aug 09
Personally I would rather save up enough money to buy the whole house outright. That way I wouldn't have to rent and I wouldn't be stuck with a crippling mortgage for twenty or more years. The only downside to this plan is that it'd take a few years for me to save up the money to make such a large purchase. I think it'd be worth it though.
@anna728 (1499)
• United States
9 Aug 09
Yeah if you had enough income to save that up that would really be ideal. Man- imagine after that, you would never have to pay for housing again, and that's such a big part of most people's budgets. Other people rent their whole lives or might not pay off mortgages til they're very old.
• China
7 Aug 09
I choose rent a house untill i save up enouth to buy a house(maybe just enough for down payment). I don't want to have too many pressures!