Rent or buy?

All depends what your means are firstly and then your willingness to compromise.



Rent if you don't want the burden of maintenance or can't afford to buy, or want a higher standard of living for the same money.



Buy if you want the freedom to drill holes where you please, paint what you like and generally customize as you want.



I'll never pay someone else's bond, even if it means living in a lesser place.

Buying, from an investment perspective also only works if you have the discipline to pay off a 20 year bond in less than 10. Otherwise its pointless.
 
So it looks like buying a house is essentially renting for the rest of your life with house burdens thrown in.
 
Yeah, but in the end you own the place. Better then having nothing to show for all those monthly payments.
 
OrbitalDawn said:
And a massive asset at the end of it, while if you rent your whole life you sit with jack schit at the end. You just helped some random person pay off their bond.
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The only issue here is, can you afford a bond and maintenance, since its incredibly hard to secure a loan for any place from the banks, if you're in the renting bracket, maybe its because you can't escape it.....maybe this world is just to harsh on lower income brackets.
 
Chrome said:
So it looks like buying a house is essentially renting for the rest of your life with house burdens thrown in.
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How is it the rest of your life?

It need only be a once off if you like and then you never need to "rent" again.

Also there's never a "surprise" we are selling you need to move. Or I don't like you so the lease is up kind of nonsense.
 
OrbitalDawn said:
And a massive asset at the end of it, while if you rent your whole life you sit with jack schit at the end. You just helped some random person pay off their bond.
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But you didn't incur debt. In JHB at least it seems cheaper to rent so if you invest that money you "save" by paying the bank interest you can come out on top. But only with real discipline.

That said, if I find a place I like and feel I won't need to move within the next 5+ years I'd consider buying.
 
SauRoNZA said:
All depends what your means are firstly and then your willingness to compromise.



Rent if you don't want the burden of maintenance or can't afford to buy, or want a higher standard of living for the same money.



Buy if you want the freedom to drill holes where you please, paint what you like and generally customize as you want.



I'll never pay someone else's bond, even if it means living in a lesser place.

Buying, from an investment perspective also only works if you have the discipline to pay off a 20 year bond in less than 10. Otherwise its pointless.
Click to expand...

Same. It will just kill me inside :/
 
There are pros and cons to both, we can all argue until the cows come home. It depends on your circumstances, wants and needs :) Perhaps you want the flexibility of renting and not being tied down. Or perhaps you want stability and want to stay in one place for ten years.

Financially speaking IMO there is no clear cut winner between the two. There's a smart way to rent or buy and a dumb way...
e.g. Pay off your home loan in 10 instead of 20 years as SauronZA says, and accomplish this by not over extending yourself.
e.g. Rent and invest the savings you would have put into bond repayments into investments that will beat property growth.
 
Chrome said:
So it looks like buying a house is essentially renting for the rest of your life with house burdens thrown in.
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No.

Rent goes up every year, while your house repayments stay the same.

ie. The house gets easier to afford over time, but renting just gets more expensive.
 
renting is just n easier way to get a roof over your head.
buying is an investment over time. the money you fork out in a month never goes out the window like rent.
property always has a positive growth, never negative...well almost never..there was a time
yes you have additional shyte to worry about like erf tax and such.
the benefits in buying is more than just the solid investment. you can also do as you fscking please without a landlord who tells you where you can piss in the garden
 
Lager said:
buying is an investment over time. the money you fork out in a month never goes out the window like rent.
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People seem to forget the interest on the massive loan they incur. Unless you have the majority of the property paid for by the deposit.
 
Hamster said:
People seem to forget the interest on the massive loan they incur. Unless you have the majority of the property paid for by the deposit.
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yeah that's true but at the end of the bond term whether it be 20/30 yrs (or if you can pay it off sooner) you still have an asset (one that has grown considerably in value), whereas with renting...well i think you get the picture
 
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