Rent or Buy a House?

hi veron. this is one of my biggest dreams, to have a house that i can call my own. since i came to cebu, about 15 years now, i rent room, house, transferring from one place to another. but for that period of time, i can't see where the money i spent in renting. it all went to someone else's hands. if i have much money, then i should i remain renting? i will sure use it to buy a house for my family. if money is not enough, maybe i can use it to loan a house, something like the "equity" thing that developers require.

I have my home but renting apartments is the best way to easily earn money and have some monthly income. I want to build a house and put it on rent to have some money. I dont like living in rent becoz its too costly these days and money itching kind.

That is exactly what me and my girlfriend did. And it was a good thing too because there was a time where she unexpectely lost her job. Now she has one but now I'm not working. But because we are both savers and we chose a house that cost less than what we were approved for, we have not lost it and I'm able to pay my half on unemployment until I find something. But I disagree with you on one thing you said. Nowadays it's not expensive to buy za house. We bought our house 8 years ago and paid over $100,000 for it. Today, we could probably get it for around $80,000, maybe less.

I would always prefer buying a house than renting one provided I have enough money. The idea of renting comes when you have insufficient funds to buy a new house. However if you have enough money to buy even a small home, then I think most of us would prefer buying a house because in future if you ran out of money, no one would kick you out of your home, unless its mortgaged. Happy Lotting

For me you must buy a house if you have allotted money ,, than to rent

I would disagree with you veronizm, first you can't buy a house without a lot right? So that means when you buy house, LOT is always attached to it unless you are buying a tree house??? lol but still a tree house is rooted to a land so there is still a specific lot to it. So for me in my point of view buying "House and Lot" is an asset in the same time an investment. Lot does not depreciate in time instead it rises it value in time. Just like houses here in my place before the Total contract price of house and lot here is P600,000++ - Php 700,000++ but now it cost Php 800,000++- Php 900,000++. The same style of house but different price. ^_^ I would rather buy house than renting. Because I do experience renting and if I would total all my years of stay on all of my payments I can buy a decent house that was my own. So that was a waste of money. And when renting you are still liable on payments of electricity and water bill. So I decided to make Loan on one of our government offices (Pag-ibig) for me able to get a house of my own. But now I sell it to my parents because of some personal matters. ^_^

I still consider a house an asset.you can buy a house,make it bigger,and put it up for rent.for me,I would still prefer my own house.if I do want to move places,I can put up my old house for rent.even if I spent some money for its renovation,I can still earn it back from rental fees I can generate from it.

I would definitely buy a house if money is not a problem but if we are just starting out and the only way to have my own place is to rent then why not. Of course it is more convenient to have your own place to lessen your deductions from the salary that you receive.

Hi veronizm, it is expensive to have a house and that is precisely why I frown at the mansions that mushroomed in the metropolis. You would wonder how they could have afforded the minimum, say Php15 M, when that could have been some yuppie's lifetime dream. Anyway, have you read the House of Spirit and One Hundred Years of Solitude? I kinda like those novels because they tell stories of how a house could only be good as the dwellers make it a home. Of course that is minimizing the greatness of those two novels. Read them if you have time. But personally, I am never for renting. It does not give you a sense of belonging. I'd like to go home to a place I call my own. And you are right. The home must only be functional. I never go for a museum-like or mall-like abode. And I don't go for so much decorations which I have to clean eventually. I wouldn't want to be a slave of my own house. Pray for a house for your family. God grants to those who ask.

I am going to buy an apartment soon because I don't want to spend money on renting any more,although I think it's really not worth buying an aprtment in couthchina but I stll do that to give family a happy enviroment to live in.I have made the decision and will let money go before december.

It's much better to build your own house. It's really hard to rent a house because you are bound to pay your rent monthly.

I see what you're saying. I would opt to buy the house. If I rent it, I'd be paying for it for years, but the property will never be mind. If you can rent to own, that'll be the best. I would spend on maintenance though but I probably wouldn't invest too much in "developments" of the house. I think that's what you mean by not spending too much money on it. I think you have a good plan.

I would go over buying a house than renting, why? It’s because it’s more hassle free than renting someone else’s apartment. The best part of it is it is yours and you can do whatever you want to do on your house. You can change the rooms; you can renovate or even extend room fixtures etc. and have the liability to do whatever you want to your housing without asking any permission from your landlord. Another benefit on getting your own house is it can cost less than renting an apartment. You can save money cutting down your monthly expenses then settling for paying monthly for your rent. Home ownership also gives you the feeling of security. You have safeguard against inflation and best part, you are the only one who have the keys.

yes i agree you,house & lot at the moment is very expensive.mostly people like me is just rented a house..buying a house even just a simple house that good for our family is still expensive we need to save a lots of money for that..but some houses that are cheap is lots of staff that need a renovation which still cost a lot.so its better to find a house that maybe not brand new but not over used..:)

Think of it this way. The rent you will be paying can be your monthly amortization if you buy a house. The difference is that if you buy a house, you have something to call your own. So I'd rather buy a house than rent one.

must buy a house... cause is invest.. ^^

I started the similar topic discussion,Ito be honest both made me unhappy because they are both much money cost.But I have to buy an apartment not for myself but for my whole family.How "bout you"?I jsut thought you mean how "bought you" in order that....