When planning our future we take as a fact that the cornerstone of it must be a house. The big question that arises at that time is whether we are more interested in buying a house or going to rent; they are more than reasonable doubts at that point. Of course, if we have someone who can sell us a house, it will be even better, but is renting, thinking in the long term, a bad option? In this article we will try to give reasons for each one, when the time comes, to estimate what will be their best option.
Of course it is a very personal decision; Maybe one of the most important in life. That is why we do not want to offer categorical answers, but offer different views of the subject. In this way, each one can reach the conclusion that seems most appropriate. But like everything in life, it is important to start at the beginning; know what everything is
The rent: what does it mean to go rent?
If we stick to the definition of Wikipedia, the rent is the contract by which two parties are obliged to transfer, temporarily, the use and enjoyment of a good. In the field that concerns us, it would be a lease; The landlord agrees to transfer the use of real property to us, tenants. Our obligation is to pay for the use a certain and determined price.
In today’s world, where labor mobility is the order of the day, rent is one of the preferred options. Going to rent, in addition, no longer has those negative connotations that I had a few years ago. Renting also implies not having ties to a place or an area. If for whatever reason we are not happy, we can always, almost without further ado, move our home elsewhere. Our house goes with us everywhere.
Obviously, it has its negative side. If what we like is stability, obviously the rent does not give us totally. The same positive point mentioned above can be negative if our taste goes the other way. Also the fact that not being the home of our property, the owner may decide to sell the house, or simply stop wanting to rent it.
However, there are no bad options; it’s just an evaluation of pros and cons. Or as one would say in business language: A SWOT analysis.
Buy a home: who can sell us a house?
On the other hand, when the rent is not an option, either for personal tastes or for needs, we have the purchase of a home. Obviously, the first point to assess will be to find who wants and can sell a house. In fact, in some occasions, in the same place where we could rent, the owner can give us the option to buy, subtracting from the final price what has already been amortized by rent.
This is the historically preferred option in Spain; country purely buyer. It is estimated that, for most of the inhabitants, it is preferred to buy a home that does not go to rent. This is why the real estate market in Spain is very constant; buying and selling a house is something that is done relatively often. Obviously, the biggest advantage of buying is stability; We are sure that if we buy, we will spend the rest of our lives in that home.
The disadvantage, how could it be otherwise, is the fact of feeling tied; the opposite is true with rent, of course. However, if what we are looking for is to stay in a place where we are already happy, buying should be our property.
Rent, buy … a very personal decision
Evidently, from Agenzia Immobiliare Tenerife we do not want to say what each person has to do, it is something very internal to each one. We only dedicate ourselves to expose certain strengths and certain weaknesses but, logically, the final decision must be yours and no one else’s.