A beautiful home is everyone's dream. But it takes a lot of money to buy a new home. Some people live in rented houses without buying a house. It is important to decide what is best for you.

Advantages and disadvantages of buying a house

The advantages

A house is an asset. This gives you stability and increases the value of your wealth.

Staying in a rented property frees you from the fear of eviction.

Staying in a rented property frees you from the fear of eviction.

If you rent out your house to someone else, your income will increase.

There is more freedom.

Disadvantages

If you have a loan, you will have to pay a fixed amount to the bank for several years.

Difficulty in finding a suitable home

If you don't pay the bank interest, you will have to pay more.

Advantages and disadvantages of renting accommodation

The advantages

The desire to live in a more comfortable place is possible.

There is a possibility of living near the place of work.

There is no need to take a loan to live in a rented house like taking a loan for a house.

Disadvantages

You will have to pay an amount every month from your monthly budget without being able to save. There will also be an annual increase.

If the landlord does not renew the tenancy agreement after 11 months, the tenant will have to move to another place.

There will be less freedom in your own home.

Everyone's needs and financial circumstances are different. Everyone should take their own decision.