Renting Or Buying A Home? 16 Key Factors To Decide Your Choice

Factors to consider for renting or buying a home. Business woman thinking to buy or rent a home.

(8) Happy With Your Current Location

It is one of the best factors to decide on renting or buying a home. Several renters prefer to live in the same place for an extended period of time due to several reasons.

If you are very happy with your current location & familiar with the nearby market, it will be much convenient for you to purchase your own house in such good locality rather then living on rent.

A good location of a house can provide a long term investment opportunity for its home buyers.

[Read Also: 10 Standard Steps To Consider When Buying A New Home/Flat/Apartment]

(9) Opportunity Cost Of Buying A Home

It is one of the most significant factors to decide on renting or buying a home. In home buying process, opportunity cost refers to the loss of an opportunity to invest your money instead of spending it on a down payment.

By investing your money in buying a home, you might lose an investment opportunity to earn higher returns out of your invested money.

If you think that your money for investment purpose can bring higher returns then the return on buying a home then renting will be best choice for you.

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