Do You Think Its Best Just To Rent A Place and Not Even Own A Home?

My family own a home and not from a mortgage. With the onset of financial crisis it is not advisable to loan a home especially if one is unsure of his employment status with the cost cutting which most company implemented it would be very difficult to continue paying its monthly fee if one have no other secure sources of income. It also depend on the members of the household, if many are working I opt to own a home rather than rent as the rental fees also increases then if you have to compare your monthly fees to paying your loan dues. Sometimes the rental fees is too higher than the contract specify in years allowable to pay if you are going to choose between the two. The advantages of having your home is you have to pay but at the end of the contract the home is yours whereas if you rent for a long time calculating the amount you spend could be enough to have your own and since you are paying rent you got not to expect that the dwelling would be yours after a specified period of staying. While, in terms of case to case basis where only 1 member in the household are working, I think it is not advisable to pay mortgages citing the economic recession where one could not expect to have the present job to last and as a resort it is better to rent than to pay a loan where you have no other sources of income where no one to help you pay for the mortgages.

i prefer to own a home rather than to just rent a place! i am used to make the envirerement around me clean and tidy and beautiful. if i rent a place, nothing encourage me to clean my room usually, but if i have my own apartment, i will always make it clean and tidy , then i will keep good spirits with living in this good envirerenment! thanks god, i have my own apartment now and live a happy life with my husband:)

after movong 700 times in 35 years haveing our own place is good even if we do have to keep maintance on it. Thanksful we havent lost our home either

I own my house and I thank God He gave this to me. I don't think I will ever choose renting over owning a house. There is no better place like the home I now own as far as I am concerned. When renting, you have an obligation to pay each month and that adds burden to monthly budget so I don't think I should ever go back to renting a house again.

We have been very lucky and able to make money with each home we have had, we were careful not to overbuy and stayed at least 6 years in each home. We keep the homes up and so have made a profit over the years. Our son has never brought, even though he could have many times, he doesn't want to spend his time taking care of a home so that has been he and his wife's choice. They put their money in other investments and have done quite well.

Everyone should work at owning a home. There is no equity in renting. It's throwing money away. Now is a really good time to buy a home. Prices are close to being as cheap as they will ever get. Next, try to have your house paid for by retirement time.If you get old and run out of money, you can get a reverse mortgage. They pay you and you still live in the house.

On the one hand when one owns a home, one builds up equity, but on the other hand, one must have money for a downpayment, and money to continue paying the mortgage, and maintainence, and taxes, and other household expenses that are not present when one chooses to rent. It all depends on the financial situation of the household.

I am an Aussie and the Aussie dream has always been to own one's own home. We had a new house built when we were married almost 50 years ago and have always owned our own home. Many young people start their married life in a rented house while they save the deposit for a home. The answer to your first question would depend on many considerations, including deposit, repayment terms, rental costs, work situation etc. All considerations should be thoroughly examined. The repayments (remember interest rates could rise) plus estimated maintenance, plus rates and insurance should be balanced against the amount of rent. While paying rent is somewhat wasted money, much more could be lost if repayments fell behind. This is a question that can only be answered after thorough investigation into all avenues.

In my home country is it popular to buy a house. Most people need a mortgage to do that. They might have a mortgage for 25 years and then once all the money has been paid that it will be their house. Renting a house is good for short time like it can be a way to get to know a new area. However I view renting a house long term as a waste of money. I own my house although it is small for my family. I am planning to sell my house and buy a bungalow. I have a disabled son and it would be better for him to have a downstairs bedroom and bathroom. It is sad that some people are having their homes repossessed by the mortgage companies. Lots of people have been made redundant and there is massive unemployment.

I don't know. It used to be my dream to earn enough money to own my home but that doesn't seem possible. I'm going to need to look for a place to live next year and I doubt I'm anywhere near buying a house.

I think I would rather own a home than rent one, you think about all that money you've spent on paying rent after a year, it could of probably been put down on a house, or you would be a year closer to owning your home.

I always rented a place but I really would like to own my own little house. The way things are right now though I'm glad I don't have a morgage payment. I'm paying a little over $600 for my place and that's about all I can afford right now.

Well, in the contrary, I think it's best to have your own house or apartment or whatever it is. Yes, it is expensive but if you have strong will you can buy it. We do not have our own house yet, but we are working (hard) on it. I imagine having a house which is designed according to our preference. With rented place, you can't do that. You can't just renovate thing that doesn't belong to you, can you?

To own the place I live is my dream and objective. In my country, most people here work hard all the whole life just want to have their own house. Yes, people won't choose to rent a house if they have the ability to buy one. However, with the downturn of the economics, it is difficult for people here to find a high-paid job. But in their eyes, a house is the base of a family. So, perhaps they rent a place at first, but buying a house is their real final goal. Have a nice day!