Buying a house? Consider Renting Instead
May 9, 2008 9:03 am More Information
If you want to live in your own home, consider renting and not buying. Renting is cheaper in the short term because buying can make you lose money in the end. For the past several decades, the housing market slumps every 10 to 15 years. Even when home prices rise from 4.5%, you would still appreciate at 4% every year for a decade before you would save more by owning your house than renting it. There are also a lot of expenses associated with owning a house but these do not build equity. Renting is more favorable not only because it is more inexpensive but also because it saves you trouble, offers you flexibility and may be a stable long-term investment.