Is it better to buy or rent a property?

There comes a time for all of us when we want to become independent and live on our own, and that is when we begin to have certain doubts about whether it would be better for us to buy or rent a home.

In reality, there is no correct decision, both buying and renting a home can have advantages and disadvantages, and the choice depends more on our profile and our circumstances.

At Fincas La Clau we explain the advantages of each of the options so that you can make the decision that best suits you.

Advantages of buying a property

Buying a property depends on different circumstances: economic, social, etc., and each person will have to analyze what they give more importance to when deciding if they want to buy a home. These are the advantages of buying:

All the money invested will be for your benefit

A home that you own allows you the possibility of adapting it to your tastes and needs, knowing that all the money you invest in it will be for your benefit and also, you will not have to ask anyone for permission.

Feeling of stability

When we buy a home we have a greater sense of stability than when we are renting, since the owner’s circumstances can change and force us to leave the property at a certain time.

Destine it to the use you want

If you are a homeowner, you can use it for any use without having to ask for permission or explanations, it can be your usual home, a vacation home or even use it for rent and take advantage of it to get a better return on your investment.

To be able to revalue the investment

Although in certain circumstances and times of crisis, properties lose a bit of value, the normal thing is for a home to revalue in the long term and increase its sale value.

You can always sell

In the event that your personal circumstances change and you have to consider changing your home, you can always take advantage of this possible revaluation of the market to sell and obtain money that you can invest in another home.

Advantages of renting a property

Although the idea of ​​buying a home is deeply rooted in Spain, this situation is changing, in part due to the economic situation of many people who cannot afford to buy a property and in part, because new generations prefer not to be mortgaged all their life and have much more opportunity for mobility. These are the advantages of renting:

An investment with less risk

A mortgage is a long-term commitment and we must bear in mind that there is a certain probability that our circumstances will change. Also, sometimes you can find a property with a cheaper monthly rent than what you would pay per month of mortgage payment.

You will have less expenses

The only thing that the person living for rent has to worry about is paying their monthly fee and maintaining the specified furniture and appliances, all other expenses are borne by the owner (IBI, community of owners, reforms, etc. .)

Greater possibility of mobility

If we need to change homes for work reasons or because we have verified that the property or the area does not suit our needs, it is much easier to change homes.

Being able to live in the place you like

Sometimes certain areas or certain types of properties are unthinkable as an investment to buy because they have very high prices. However, renting offers the possibility of being able to live in the place we want and see if it really suits our tastes.

Although as we say, both buying and renting have their own advantages and disadvantages, according to experts buying a property is the most profitable option in the long term, in the short and medium term, renting is better. However, in addition to taking into account these advantages that we have analyzed, it is also advisable to go to a real estate agency so that their experts can analyze our circumstances and needs and help us make the best decision.