The choice between buying a home and renting one is among the biggest financial decisions that many adults make. But the costs of buying are more varied and complicated than for renting, making it hard to tell which is a better deal. CPIM Property Phuket offer infographic about The comparison when buying and renting a house to help you’re deciding on whether to rent or buy a home is really a matter of evaluating your financed and lifestyle needs.
Buying
- Sufficient funds - If your money can cover the down payment, taxes, utility bills and upkeep, among others.
- Staying for good - If you’re planning on residing in the property for at least a few years or more.
- Ready for debt - If you are financially and emotionally prepared to face a home loan.
Renting
- Still saving - If you don’t have enough money yet for down payment, taxes, fees and home ownership costs.
- Unsteady job - If your job requires you to go to places too often or it isn’t just that stable such as contractual, project-based or the like.
- Living payday to payday - If you think this is still your financial lifestyle and your monthly budget is still tight.
First of all, Before you have decided to rent or buy a home is really a matter of evaluating your finances and lifestyle needs. But if you see renting as the best way to go as of now, don’t totally discard the idea of investing in a home someday. Once your finances permit, jump into the opportunity of buying your own home. Home value appreciates overtime and you can also rent the place out in case you need to move a new residence later on. CPIM Property Phuket has a wide range of property for various kinds of lifestyle and even budget.