What is better, to rent or to buy a house?
485661
Well, it depends- if you are buying on top of a real estate bubble, where you have to really stretch your budget to buy a place, you might be better off to get an apartment and wait until you can better afford to buy.  In a normal market, where you are not having to stretch your budget, you are better off to buy.  First reason is that the interest you pay is tax deductible, rent is not.  Also, you then own an asset on which you can make leveraged gains (meaning that you make a gain against your equity, and also the money that the bank loaned you to buy the place).  It also gives you some security from the standpoint that you know that as long as you pay your mortgage and your taxes, you can never be evicted from your home.
218073
Without a doubt, it's best to buy if you can.  Paying rent is paying someone else's mortgage for them.  Better to pay tax deductible interest to the lender than to just give money away to a landlord.  Many mortgage companies collect property taxes as part of your mortgage payment, and you can have the payment charged directly to your bank account - don't have to remember or ever be late.  Just have to make sure there's enough money for the mortgage, figure out ahead what your bills will be, such as utilities, food, car payment, etc.  Years later you probably can sell your house or condo for more than you paid, it's like having lived there for free.
972927
Think about your retirement years. Having a paid off mortgage means no more rental payments of $500 to whatever per month which is money that can go to food, travel, or whatever you choose. There are many tax advantages to home ownership. Seriously think about buying a home of your own because you will need a place to live for the rest of your life. Try to pay that mortgage off as soon as you can so that you need to only worry about taxes and insurance. That home can be passed on to your children, sold, rented out, or whatever you choose to do with it.
867827
If you must pay a monthly amount for living in a place, why not pay it into something that is an investment for your future.  To just pay rent to a landlord makes  him wealthy.\nGo to WWW.daveramsey.com\nhe has a great deal of advise
60080
If you have the cash and available credit, buy one home with the cash and put your availble credit towards a rental property, which will eventually pay for itself. Just a thought. :)
99586
Not exactly if you are renting. If you can prove that you have a regular source of income such as paystubs, etc, you should be good to go.\n\nBut if you are buying.. it will impact ur ability to seek loans
19124
It can be more complicated than you would think.  Lets say you can only afford a 70-80k property.  Renting may be a far better choice in a market with limited appriciation.  Factoring the 2 benefits of home ownership (interest deduction and appriciation) compared to the cons ( maintenance, up keep and taxes) a rental scenario may be much more financially prudent on smaller homes.\nThe iterest deduction may not be more than your standard deduction esspecially with several dependants and the maintenace on a smaller and most likely older home may be a greater percentage of the occupants gross income.\nApartments have stability in cost and limited to no cost to maintain.
169044
well, in my state rent to oun does not work vary well. I'm kind of in the same place. Me and my best friend bought a house 4 years ago becouse rent was getting to hight. Well now we want to sell but can't right now becouse of a lean from her icecream store. So we are kind of married but don't want to be. So you might want to get married first.
47651
I suggest you have an apartment for several years to save a large down payment and find exactly the right home for yourself.  Paying rent IS like flushing the money, but in the long run, the investment of a good solid home is worth the wait.
255250
R2Own works just like renting but you typically pay a non refundable option fee up front vs. paying a security deposit and you also agree on the purchase price up front. While renting, you usually have 12-18 months to actually get a loan and buy the house. If you don't buy in the 12-18 month window you loose the option to buy and your option fee. Also, a portion of your rent can go towards the purchase price($100 per month) when you go to get a loan and actual take complete title.
1060264
Condo. It is much easier to finance and insure a condo versus a trailer. That makes the pool of buyers significantly larger.
364240
Owning a house is the best from an investment standpoint. Condos are pretty good too although the market is different. They don't increase in value as much, you have to pay an extra monthly fee but you don't have to worry about taking care of the outside. Renting is money out the window but you may want to consider it first so that you can really take your time and look over the housing market in the area you will be going.
853891
Both have pros and cons.  Personally, I think the pre owned homes are better.\n\nWith a pre owned home, it will already be "broken in".  Just like a car, just because it's new, doesn't mean it's perfect.  Let the first owner take it for the first 2 to 7 years.  I lean towards the 7.  \n\nBy then, the kinks should be out of it.  Also, the neighborhood should already have it's personality by then,  On a new home, all you know about the neighbors is that they qualified for a loan - and in today's market, maybe not even that.  Many investors are getting past the builders attempts to keep them out, buying several houses (I don't think the builders try that hard to keep them out) and then renting them.  So you may be moving into a rental neighborhood anyhow.\n\nPre owned has trees.  Mature landscaping.  Character.  Window coverings...
74916
I am trying to figure out this myself, except in South Florida. I think if you can afford a place that you plan on living in for several years it is worth buying, it probably won't be that much more than the rent you are paying and you'll be building equity. Unless of course you are in my situation and living rent free or have very cheap rent. Then you just have to decide if you are living cheaply enough that you can save more than the house would have gone up. Probably around 10% of the value of the house per year. So if you are thinking about buying a 200,000 place you would have to save more than 20,000, but who knows real estate might go up more or less...\n\nIt's a very hard decision!
982935
The buy vs rent question is very popular. And truthfully only you will know the answer. Although here is my personal opinion. Rumors of the bubble popping have been circling for years. Not only that as long as million dollar brownstone's and other exceptional purchases will continue to happen you are correct the new york market is quite immune. Here is something o think about 5 years from now if you purchased you could have maid a nice sum of money for selling the property, or 5 years from now you will have paid some one else a nice sum of money with nothing to show. If you feel you can afford the housing expense then go for it. Homes are investments, apartments are liabilities.\nIf you like there is a rent vs own calculator on the following website so that you can make a more educated decision if you like.\nAlso feel free to log onto http://www.justgetaloan.net for a fast free pre-qualification with loan programs on low rates, great terms and service. Also fee free to contact me at 866 530 7300 ext 7305 or by email at jfreeman@justgetaloan.net
837662
I am assuming you mean renting it out to other people.  (Your question makes it sound like you want to rent a home yourself.)  If you own a second home, and you need the extra income to pay for the mortgage as opposed to losing it to the bank, I would say, yes.  Renting it out is a good idea.  I have two other homes, both rentals.  I purchased them for that exact reason.  The income I receive for rent each month, is about $750.00 over the mortgage on them.  So I make a profit of $750.00 each month, above and beyond the mortgage payment, for rent generated.  Hope this helps.
559419
You could rent for a year while you decide for sure what area you want to buy in.  That's what we did when we moved into an unfamiliar state.  Then you won't get stuck with a house in a neighborhood you end up really disliking.  Just be sure to check what the time-line is on reinvesting your capital gains on the sale of your current home.