Which is better option, renting or buying a home?

[mhickaeljay]

What’s on your mind, if given this question to you? What are your strong points of considering one a better choice than the other? Thanks for dropping by and leaving your answer.

[DinoWood]

What’s on your mind, if given this question to you? What are your strong points of considering one a better choice than the other? Thanks for dropping by and leaving your answer.

Since I'm still single I would prefer renting a property as of now. And then save money for me to buy my own property in the future. Anyway do you know any condo community that offers renting services? I heard that a lot of home builders are already offering condos for rent?

[mhickaeljay]

Since I'm still single I would prefer renting a property as of now. And then save money for me to buy my own property in the future. Anyway do you know any condo community that offers renting services? I heard that a lot of home builders are already offering condos for rent?

Thanks for sharing your idea pal! Well you're right a lot of property developers offer leasing services on their various residential development placed all over the Metropolitan area. Depending on the place where you wanted to rent, I would give you some property developments

[DinoWood]

I guess Taguig is a great place to rent. Do you know any condo community where I could rent there? Thanks Again!

[mhickaeljay]

I guess Taguig is a great place to rent. Do you know any condo community where I could rent there? Thanks Again!

Indeed Taguig is a great location for you to experience modern day living, Ok so here's good news for you DMCI Homes offers Apartments for rent in taguig in five mixed mid-rise and high rise condominium community that possess great features and facilities. So rest assured that you will find the right place for you!

[CastroRick]

I've been to Boni Heights Condomoniums and I must say it's nice. It's a good choice for a property - http://www.dmcileasing.com/bonifacio...s-for-rent.php on the main website here is the link http://www.dmcihomes.com/bonifacio-heights.php

[CastroRick]

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What's the connection of this to the topic above?

[CastroRick]

I would say that both options might be favorable choice depending on the preferred location you are looking for. If you want to settle for a long time and wish to have a peaceful life then buying your own home is good choice, but if you only intended for a certain period of time common reason from here is the origin of work, renting is a must since flexibility always come with it.

Agreed! Being practical I guess. Buying a house really is not a good choice if you will just stay for a short period of time! With the crisis today, it's important that we spend money wisely and set our priorities.

[mhickaeljay]

Both of you Queenmaiden and CastroRick has its own good point in choosing the option of renting based on the time duration of stay in a certain property. Thanks again for dropping by!

[annem]

It's almost always better to buy a home (house and lot or condo) than to rent, but it is better only if at least one of the following applies:

- Your rent is lower than average—and you expect it to stay that way.
- You plan on moving in a few years.
- You're in a super-expensive housing market.
- You can get better-than-average returns from whatever you're investing your cash into.
- The space you would buy is a lot larger than what you would rent.

[johnrick]

If you rent, you’re throwing away your money. Owning your own home is a forced savings plan, and is an excellent path to build wealth.

I bought 2 condo units, one of which is where I am residing now (Cypress Towers), and the other is still in construction (Rhapsody Residences), both built by DMCI Homes. When I purchased them, I am with a licensed real estate broker. He discussed to me the process for understanding.

Besides, buying a home doesn't mean you can't move in anymore, or that you are stuck there for forever. You can rent it out or even sell it.

[carlamontoya]

It's a very personal choice. It's easy to rationalize either way. It's a place to live, it has a cost, and no matter what you choose - moving has a cost too.

Some people prefer the freedom of renting and are willing to risk external changes that might require them to move (landlord sells property for example).

Others prefer the stability of owning and can handle the financial risk of ownership as well as the responsibilities of maintenance, taxes, insurance etc.

If you are looking at this as a market timing choice - the combination of lower prices and low interest rates make this a very good time to buy a home (house and lot or a condominium unit).