To Rent Or To Buy ?

Posted on November 29, 2007. Filed under: Financial Issues | Tags: , , |

Experts tell us it is better to rent than to buy a property. Which is better? I have seen my friends who bought are better than those who rent. Firstly, they have their own permanent place and no one can force them out. They do not have to be like nomads shifting from place to place.

Those renters have to pay a higher rent as the rental has shot up through the roof. If you are renting a place which is almost like paying the monthly installments, would it not be wiser to buy a property than renting. For in the end, if you bought it, it will be yours.

Prices of properties are now sky high. It is quite insane .It is like  a bubble and waiting to collapse. A shop house in the 70’s selling for 45K’s is now worth around 400K’s.This has brought a big windfall to the owner. Those who bought in the 70’s and 80’s have reaped big dividends. They have let their money worked for them.

There will be more and more people populating this earth but land cannot grow and it will be limited. Demand will surely outstripped supply and those lands will become more valuable and appreciate in value. We have seen it happened.

Is buying not a smarter choice? Provided you have the means and could afford to pay the installments. For those who cannot afford, the obvious answer is renting is the only choice.

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