Post
Topic
Board Economics
Re: Buying Vs Renting a Home- Which is the right move?
by
Beparanf
on 16/05/2024, 15:55:36 UTC
This topic has come up quite a few times over the years on this board.  A lot of the discussion around it has mostly been others opinions.  I found this neat little graph online (instagram) from the New York Times that compares the two.  Now keep in mind one's location will certainly have an effect on which one might make more sense, even in what part of you own country you're in.

The main answer here depends on the tax on the location compared to the rent cost. I'm not familiar with the taxation of your country but there’s some state in the US especially the popular city has a high tax rate for owning a house that’s why many preferred to just rent a house since you will save from tax and at the same time low maintenance cost since you can just change an apartment anytime you want.

In my country, owning a house is much cheaper than renting since we don’t have high tax on real estate properties. You can already purchase a house if you will save all your rent.