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.

Image Source: Shutterstock

Recommended Posts

More From GetUpWise

About Editing Staff
At GetUpWise, we are a team of professional writers from different areas of subjects. We are conducting thorough research on each & every topic from highly reputed sources before writing any piece of article. Once research is done, we try our best efforts to provide informative piece of articles in an easy to understand manner. It is something that is extremely essential to meet our goal while reaching & offcourse building a strong online community. We do update our articles from time to time in order to provide the most latest information quickly. Thus, our articles can be used as a "way to gain smartness".

Leave a comment

Your email address will not be published.


Get Instant Access To GetUpWise Posts

Subscribe Us

Please do verify your email address by clicking a link sent to your email.

More in Real Estate & Mortgage
Dirty Secrets Your Real Estate Broker Will Never Tell You.
20 Dirty Secrets Your Real Estate Broker Will Never Tell You

Real estate brokers play a major role in closing a property deal. These dirty secrets your real estate broker will...