Should I Rent or Buy my Own Property?
It is always a choice whether or not to buy your own property or rent. If you are still confused whether to buy your own property or simply rent, it is imperative that you consider both sides of the coin. First, do you have enough money in the bank? If you don’t have sufficient money in your bank account, it is a good idea that you simply rent. You have to consider the additional costs such as tax and maintenance if you are going to buy a property.
Next, it is also important that you evaluate your goals for the next years. Are you open to the possibility of transferring to a new place? If so, it is a good idea that you simply rent rather than buy a property. It is also a good idea that you make your assets liquid.
Now when exactly should you be buying a property? You should buy a property if you already have plans of settling in one place. Also, make sure that you have sufficient funds. And lastly, you want to buy a property when the price is actually low. By considering these things, you can make the best decision.