The most important question is whether to buy or rent a real estate. Both have got their own merits and demerits. Let us try to analyze a few.

 

First of all let us take a glimpse of the financial aspects. A real estate of less than 1000 sq. ft. in California might cost you around 4 million US dollars and the rent for a similar property will be $1500 per month. 

 

Now the other issues:

The main advantage of owning real estate is that it builds equity. So, it may be treated as an investment for future. The real estate has got resale value and the lucrative thing is the value of real estate in most parts of the world is increasing by leaps and bounds.

 

Owing a real estate earns you the freedom of changing the décor or almost any internal or external fixtures subject to the rules adopted by the local statutory bodies.

 

In case of owning real estate the maintenance cost goes from the pocket of the owner. So if you chosen to rent it the expenses will go to the landlord, not you.

 

Owning a real estate sends a signal of reliability and stability to the community at large. People become hesitant in accepting the people, who are on rent, as the community feels the insecurity of the people and become doubtful about the duration of the person’s stay in that society/ community.

 

Owning a real estate also raises the responsibility of fulfilling the tax obligations, which hardly becomes a headache for you when you are on rent.

 

The main advantage of rent is the mobility it offers and in case of owning real estate, it restricts you from floating around freely. So, why not ask your mind and decide accordingly?