Is it Better to Rent or Buy a House?
I bought my first house when I was 22. I was very proud of myself, but it did not end up being a great investment. I bought the house for $190,000. Lived there 7 years, spent about $15,000 on upgrades and sold it for $180,000. I had a lot of fun at that house and loved it. I did not take my time buying it. I was also hurt by one of the worst housing crashes ever. I was not deterred from buying again. My next house I bought for $200,000, put about $15,000 of work into it, and sold it for $350,000 four years later.
On my next house I bought a foreclosure that was an awesome deal, and was helped by an improving housing market. There is a lot of talk about renting versus buying, and I am a strong believer in buying. I explain the advantages in this video:
You did a REALLY good job on this video! Wow! I've seen a lot of info on this topic but this way way more thorough and definitive than I have ever seen.
If it generally made more sense to rent then I don't think there would be real estate investors. lol
Thanks! I completely agree!
Always an important topic. Watching video now. :)
Dolf de Roos did a seminar with many of these points. Also a book called 'Real Estate Riches'.
Cool, I will have to check it out
Yea i agree with you boss....buying a house is much more better than living in a rented house. Even a lay-man knows that if he owns a house, he would be free from problems like owing house rents. Generally, it is all man's dream to own land and landed properties. Nobody on this planet earth, would disagree to that. It was nice reading this article from you boss @investfourmore
a thank you, there are quite a few people who argue that renting is better.
Those are the people that don't have plans to make it in life. They always to shallow. But anyways, life is a matter of choice
I believe that for the house you want to live in, you cannot place the dollar amount of your investments in the equation. It is just like your first house. For the rest, the market decides which best for each one of your investments.
@Investfourmore sir better to buy
For real estate business needed huge money..... Good luck sir
. Carry on sir
The beauty of renting is that its easier to move to an area with lower rental cost. You are much more flexible and not prone to a housing market 'correction' or crash ~ that will happen sooner than later.
If you buy right, you can avoid many of those problems.
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I say rent where you live and rent out what you buy. Always has been my rule of thumb. I bought 6 houses when I was in college in a bad neighborhood. Got them for a great price at a tax auction. But I rented 2 penthouses on each side of downtown to live in. So much better lifestyle than living in the hood in college. :)