Should You Buy A Flat Or Rent One?

One of the biggest dilemmas people have especially if you are young and just starting out on life is whether to buy a flat or lease one. Now of course leasing a flat would be far easier than buying one but that also comes with its flaws through the course of this article I will present to you pros and cons for both sides. What you pick at the end of the day is up to you. That is to say both of them have their merits and it really depends on what you want so read carefully and make your own judgement.

First let us take a look at leasing a flat. Before I get into it I must clarify that regardless of whether you buy a flat or you rent one you always have the option of choosing the kind of place you want. For an example you could be someone who prefers family retreats NSW as opposed to empty ones where you have to decorate.  Regardless of what kind of place you go with when you lease a place you don’t really have to worry about stuff like maintenance and all. For an instance if one of your pipes breaks you just have to inform the landlord or landlady of the issue. One of the biggest advantages that people find is that it is much easier to move when you lease a place. If you buy a place you are stuck there as you invested a lot of money into that place. If you just leased it you can simply leave to a better place if you have the money. But of course the drawbacks are you have no ownership of the property and must get the permission of the owner to make any changes. That is to say even if you want to repaint your room a bit you need the owners approval to do so.

Moving on to buying a house the advantages would be that you own the place, it is a kind of an investment in a way. This is an asset you can sell if the need ever arises. Of course this may not happen as fast as you would like sometimes. But when you buy a flat, you feel a sense of permanence when it comes to your pet friendly accommodation Mudgee. You can really ease into a community and become a part of a group of neighbors and such. The drawbacks would be that you would have to pay property taxes and you have to maintain the place at your own expense. And the obvious thing is it requires a large amount of money to buy one.

The real question at the end of the day is whether you are looking for a place to live in for a short or short period of time. If you aren’t really sure where you might have to go for your job just rent a place that way you can move whenever you want. If you are a newly married couple it would be better to simply rent a place first before you try to buy a flat. In my opinion it would be far better to rent a flat now and just buy a house when the time is right. First settle into your marriage save up and then just buy a proper house around the time that you are prepared to have children. Everything rests on the plans you have for your future.

 

Comments Off on Should You Buy A Flat Or Rent One?

Filed under Accommodation

Comments are closed.