SHOULD YOU RENT OR BUY A HOUSE?

Rent Or Buy A House?
Often folks moving to a new place or changing home think of the above two options, whether to buy a home or move on a rental accommodation. The answer to the above question” should you rent or buy a house” varies from person to person, place, your income, prices of home in the area you are interested in buying, etc. to avoid any regret later on. 
In addition to the above questions, you must work on finding the answers to the following questions to know whether you should rent or buy yourself an abode- 
  • Check out the possible period you may have to stay in that place– This is the first and the foremost question to ask yourself. If you have a transferrable job and you get transfer frequently, then buying a home would not be a great idea. 
As per real estate agents Wanneroo, investing money in buying a house for an year or so is not going to get you anything as property prices generally do not increase immensely. At times, you may not even earn the amount equal to the interest rates offered by the banks. If you do not see any scope of living in a place for more than 5 years, we would suggest you to move on rent. 
  • Hope you are not loaded with any kind of debts 
Is there any type of loan you are paying off? It is vital to make sure that you’ve paid off all kinds of loans or you are under no liability to pay a loan while thinking of buying a home. The buyer is supposed to show a low debt-to-income ratio to get eligible for the loan.  Read more 

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