It is part of everyone’s life: one hour we need to leave our parents’ house. That moment may come sooner than we think! And then, that question is left in the air: buy a new apartment or live in a rental apartment?
For years we heard from our parents that the best option is to buy their own apartment, since the monthly rent payment was the same as throwing money away. Therefore, it would be better for you to spend on the installments of your property instead of assuming an account without having a future return. But is it true?
Well, it is with this in mind that we decided to make this article. Let’s put both sides on the scale and unveil together what our best option would be.
Buying your own apartment
Conquering your own home is usually the greatest achievement that anyone can do in life. That is why the profile of people who buy a property are those who are already enjoying a consolidated career, have a family formed and can afford the financing installments.
In addition, it also represents an excellent form of investment, since over the years, the property starts to increase the amount originally paid.
Besides, when we have something of our own, we are guaranteed freedom and choice. For example, if you want to increase the rooms, you can do it because this improvement will only have repercussions for you, unlike a rented property, where you will have to ask for permission and, only if it grants, you continue with the process of remodeling.
The rented apartment
Whoever is leaving home for the first time, rent becomes an attractive and immediate way of solving the problem, since financing is an option that ends up implying a higher value debt.
Another positive point is the reduction of obligations to the property and its conservation, since that property is not yours. We can say that the owner of the property has more obligation than the lessee, bearing the expenses of this, with the renovation, with the maintenance, among others.
And now, how to decide?
Now, speaking from friend to friend, what will weigh in your decision is your plans for the future. Do you intend to move, be it city, state or country? Or do you have a stable career that gives you security and happiness? Do you think about starting to increase your family?
Try to talk to yourself, and see what plans you have for yourself going forward. If you intend to move to a larger city or have plans abroad, perhaps it is more interesting to be able to buy an apartment in this city that will welcome you.
If you want to find out which is the best financial option, make a very simple account. Divide the monthly rental price you pay by the approximate sale price of that property. You can rely on the value of some construction that looks like. Then, with that result, multiply by 100.
If at the end of all calculations you have a result greater than 0.5, then buying the property can be a very viable option. However, if the result is less than 0.5, then rent may be a temporary option, until you are finally able to fulfill your dream of buying your own home.
We must always remember that when we buy real estate, we will have it for the rest of our lives! The appreciation of this space will take place for many years, and you can always exchange it for other options that guarantee the comfort you are looking for at that moment. The rent is not.
But, everything varies from house to case. And since we’re talking about planning for the future, what’s yours? Tell us in the comments!