Makes_Sense_To_Rent Common sense says that its better to buy a house, instead of renting. Here are a few situations in which it makes sense to actually rent the house:

1) You do not have a stable job, and you are not sure that you will be able to repay your mortgage over next 25-30 years.

2) Costs associated with your own home (property taxes, maintenance costs etc.) are too much for you.

3) You do not intend to stay in the same city for another 20-30 years.

4) You think that you can be impacted by this economic downturn, and might have to take up a job in another city.

5) You do not have a very good credit history right now. In that case, you would have to pay a high interest rate on amortization. It might make sense to wait for your credit history to improve before buying a house.

6) You do not like the home prices right now, and would rather wait for some more time to find something within your price range.

7) You are expecting a few big expenses down the line (marriage, kids, college etc.), and would not want to add the mortgage expense as well.

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2 Responses so far.

  1. I’ve always rented mainly because of the maintenance factor. If something breaks, all I have to do is call the landlord and they fix it.

  2. Ishan says:

    @JT – Thanks for visiting. I completely agree that maintenance factor itself is a big thing. I love to have the comfort of just giving a call, and knowing that things would be fixed by the time I come back from office.

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