Without a doubt, choosing between buying or renting a
home is one of the most difficult and important financial decisions you can
make. Depending on which way you go, it will affect your finances in different
ways.
In order to decide if renting is better than buying, or
vice versa, it is necessary to evaluate our own circumstances, those of the
market at that moment, and clearly understand the advantages and disadvantages
of both.
Advantages of Renting
- You hardly need any savings to get started.
- The paperwork and steps to be taken are minimal.
- In case of a mistake, it is easier to make amends.
- You can have access to areas where you could not
buy.
- It provides tax benefits to both the tenant and the
owner, according to certain conditions.
- With the rent you have less expenses, since the
taxes associated with the housing are assumed by the owner, unless different conditions
are agreed upon in the contract.
Advantages of Buying
- The property is available for the purpose you want.
- It allows you to decorate and remodel it as you wish.
- In the long term it is usually revalued.
- It serves as a measure of future savings.
- Once paid, you no longer have a fixed monthly cost.
- Depending on the bank interest rate, it can be
cheaper to live in your own property than renting.
No matter if you are looking for a property to buy or rent,
our advisors are trained to help you throughout the process.
