People who are going to move to a new place think for a long time whether it is more advantageous to rent or buy a house, or which is more logical. Because renting or buying a house where you will spend your life is actually a very important decision. Your budget actually affects the biggest decision mechanism here. It will make reaching the right decision easier by reviewing your short- and long-term plans during the decision process, and collecting your monthly fixed income, down payment, and interest rates in one pot. For this reason, it is worth noting that buying a house or renting a house is a very personal decision. To make it easier for you to make this decision, we have compiled the advantages of renting and buying a house for you.
ADVANTAGES AND DISADVANTAGES OF RENTING
• The cost of the renovation of the house you are renting belongs to the landlord.
• Tax and insurance costs of the house are not yours.
• You do not have to incur a large loan expense.
• The amount to be paid for the rent is determined every month and the contract is guaranteed.
• Renters have the opportunity to move to another place they want at any time.
• When you want to rent a house, you may not receive the requested deposit when you leave the house.
• At the end of the contract or in extra cases, you can be evicted unplanned at the request of the landlord.
• You will have to make changes and renovations in the house in accordance with the standards allowed by the landlord.
• Your rental price may be affected by inflation.
• Moving costs increase in your eyes.
ADVANTAGES AND DISADVANTAGES OF BEING A HOMEOWNER
• House buyers make a big profit when they sell their house in case the house prices rise.
• Homeowners have the opportunity to decorate and renovate every area in the house as they wish.
• You can either live in the house or use it as an investment tool.
• You will get rid of the hassle of moving for a long time.
• You will get rid of the trouble of rent.
• You deal with tax and insurance costs.
• All renovation costs of the house belong to you.
• Your financial obligations increase.