Rent or Own your car or home?

Renting is throwing money away on a temporary item. Something to do when you are in transition and not sure of your future. Owning is normally a tax write off. Something for your money. A tangible thing. A responsibility. A place or item to call your own. I think these are the differences between the two.

I own my own home and I think it is great as I know that everything I do to it will add value to it when I eventually want to sell. I also know that if I'm short of money when I've retired I can sell my hourse to get some. I don't have a car, but when I did I owned it too as it works out much cheaper.

Renting is just like throwing your money away. When you buy a house it's an investment, although you should really choose and think plenty of times before buying to make sure you are buying something worth your money.

I own both my car and my condo. In the states you receive some tax benefits for home ownership plus you are gaining equity in the ownership of the property. owning the car is probably about the same...you have an asset as opposed to just making payments. cons...you are responsible for the upkeep whereas when you rent, the owner is responsible for that.

HMMM well let me see. Renting you don't have worry about maintanence, if it's an apartment you don't have to mow lawns and keep up with a yard. But themoney you spend on rent does not benefit you like a mortgage payment would. You can't do what you want to the place your renting. You may have noisy neighbors. We just moved into our house and love the fact that we can finally paint, be loud if we want, do what ever we want to the house. We can fix the yard up the way we want it. I love owning a home. Granted it's a tad more expensive but well worth it!

Good things about owning: you can do what you want when you want, no permission needed Bad things about owning: Things go bad, you have to fix them :( Good things about renting: If something goes wrong, you aren't responsible for fixing it. By law the landlord has to. Bad things about renting: You have to follow the rules set upon lease. You can't always have pets, sometimes you can't paint. Sometimes if the rules aren't followed, you can get kicked out.

Thankfully I own my own car and my own home. If I was renting a car, it would be quite expensive and I would never own it. The same goes for a house. At least by owning my own house, I have something of value to pass on to my children when I have passed away.

I rent from my mother. I am always worried about how the house looks when she comes.

Renting is probably easier to do for a lot of people ... but I think you lose more money than if you buy most of the time, you will have roughly the same amount to pay off each month, so the big difference is that when you buy at least you know that one day it will be yours but not everybody can easily qualify for a loan ... so sometimes renting is the way to go now is developing a kind of "renting to own", I don;t know much about it but it seems interesting enough , like a compromise between the two options If you can, I would advise you to buy though

I own both my car and my condo.

I think it is almost always best to own your home and car. If you have to borrow money to buy them you are paying rent to yourself every month. You yourself get to decide what you want to do with the home or car. You do not have to adher to the landlords wishes. You are in better controle of your life - you decide how long to stay. Only pro i see with renting is less responsibility - you can easily pack up and just go - debt free.