Choosing to rent or buy your home is a critical decision that affects not only your lifestyle but also your financial health.
People often think that buying a house, rather than renting, is the most financially sound decision,
It is part of our culture.
However, it is important to remember that buying a home is not always better than renting, and renting is not always as simple as it seems. Consider the pros and cons of each to ascertain whether renting or buying is best for you.
When choosing a method to buy or rent a property, you want to understand all the aspects surrounding this decision. You will learn about the aspects of owning and renting to form the required decision through this Guide.
The biggest myth about renting is that you simply ‘waste money’ every month.’ This is not often true, and we’ll go over some of the benefits of renting that may seem right for you.
There are many points that make renting special with regard to Buying a home, including:
In terms of the possibility of modifying the accommodation easily in the event of any problems that make you feel unsatisfied or safe in the neighborhood in which you live because the famous saying “choose the neighbor before the house” is hard to believe.
There is no bound by any obligations in the properties, as you will be ready to leave at any time.
Make sure you choose your Home, so you will be able to stay over several months to see if the neighborhood is a good fit.
Finishes and repairs
You can easily choose the right house for you before moving to it in terms of finishes, decorations, and luxuries available in it.
You can also get luxuries that are difficult to obtain due to the high price, such as a swimming pool, Jacuzzi, living in a luxury compound, and other things.
The fast working life makes you change your workplace once or several times and possibly move to a completely different city.
Rent gives you the flexibility to help you live in a home along with your work easily and quickly,
as you do not have to sell your property and buy an alternative property within another city.
Certainly, a large number of individuals agree on the importance of buy or owning a house, despite the high prices in Egypt during the last period.
The differences in land prices in several neighborhoods have helped the possibility of buying at all levels, but this does not prevent the problem of buying real estate, especially among the youth.
Advantages of buying a property
safety and stability
Unlike renting, it is possible that the owner will not renew the contract for an additional period, and you will need to move again.
Owning a home is characterized by a distinctive geographical location and close to facilities and services areas such as shops, restaurants, schools, and clubs.
The value of the property increases day by day, so once you buy the property, it will not lose its value but will increase and if you want to sell, you will not lose any part of your money.
Diversity of units
Owning a property is distinguished by variety, including duplexes, villas, Twin Houses, and apartments.
complete control to change any part of the apartment such as changing finishes and decorations other than rent.
High demand on the real estate market
If you want to sell it, you will not find it difficult because of the high demand in the real estate market.
controlling the monthly expenses, as they are shortened when owning a home in repairs that are only on intervals and consumption-dependent uses such as electricity, gas, etc.,
but you want to focus on the importance of maintaining your home occasionally so that a serious defect does not occur that forces you to pay tons of cash.
Did we talk about the best for you? We’ve reviewed the advantages of each, so the best decision is up to you.
Perhaps the most important factor to consider when making a buying or rental decision is how long you are proposing to stay in your home.
If you are only going to stay within the city for a year, then renting will always be your best option.
On the other hand, if you are suggesting to stay for 20 years or more, it will be more expensive to rent than to own during this time frame.
Finally, there are significant advantages to buy a home. You will own a property that you can simply sell or rent.