Buying is Better Than Renting
Property buyers all over the world have an emotional connection with the real estate that they purchase. From traditional times, buying real estate has been considered the “adult” thing to do for a person. This decision has no financial backing and is rooted in the thinking that having a property to your name somehow makes one economically more secure.
However, if we consider the financial aspects this is clearly not true. There are some situations when buying is clearly the better thing to do whereas there are other situations where renting is the best option. The ideal thing to do therefore depends on a case to case basis. This rent vs. buy decision will be discussed in a later article.