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When it comes to buying and rending a property, which one is more convenient for you to take on that wouldn't have much pressure on your finances? I understand that when you have enough money, it's not going to be any issues for you to buy any property of your choice but that's not the reality for most people. Although, there are still some rich people who never want to buy their own houses. They prefer to rent than buy.
Which one is better for you in buying or renting a property?
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In my opinion, renting a house is simple and accessible to everyone, because not everyone can pay the cost of a house and live in their own, but in the long run it is not so profitable because a lot of money is lost during this time. I currently live in a rented apartment myself, but I have been saving up for a long time to buy a house because it is profitable and I will have it for the rest of my life.
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I'm thinking about getting my own house, not to make money by selling it later, but to save on rent. I'm saving up so that maybe in the next 5-10 years, I can buy my own place. I don't have any plans to invest in real estate for profit.
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Buy a duplex and rent out the other side. Then in time when you move, keep it and rent out the side you were living in.
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The decision between buying or renting a property depends on financial stability, long-term plans, and personal preferences. Buying offers potential equity and stability while renting provides flexibility and less responsibility for maintenance. I believe one should have at least one property of their own. After that, if they want they can rent it out to someone.
