this is a very personal decision . a lot of factors go into it .
Are you planning to stick around in that area for a long time ? Is your current day job in an area that you like , do you like that neighbourhood ?
What are the advantages of that location ? Is it close to groceries, shopping malls , entertainment , does it have a good nightlife like pubs , bars and disco-theques ?
All these are desirable characteristics for buying a home
Renting , contrary to what all the builders , banks and land mafia would have you believe, is not a waste of money . You get the flexibility to move when you want to and no headaches of property taxes , maintaining the property ( if the plumbing breaks , you just call the landlord ) .
if this was your own house , you would be paying the mortgage payments / home loan payments , property taxes , responsible for maintenance of the home .
some people look at homes as an investment , others just as a roof over the head.
warren buffet , lives in a modest home , built in the 1930’s and is not planning to move out anytime soon.
bill gates , on the other hand , lives in a 66,000 sq feet home , called the xanadu 2.0 in medina , washington
jeff bezos recently bought the most expensive property in the los angeles region.
elon musk , recently has been quoting that he has a bunch of homes , which are lying idle , and he is planning to sell most of them .
so , a home as a real estate investment or a roof over your head ? please refer our blog – is your house an asset or a liability ?Add to favorites