With property prices and rental rates shifting, many people are asking the age-old question: Is it better to rent or buy in today’s market? Here’s a breakdown to help you decide.
When Renting Makes Sense:
- Flexibility if you plan to move within a few years.
- Lower upfront costs (no down payment or maintenance expenses).
- Access to premium locations you might not afford to buy in.
When Buying Is Smarter:
- Building long-term equity and wealth.
- Stable monthly payments if you secure a fixed-rate mortgage.
- Freedom to customize your space without landlord restrictions.
Questions to Ask Yourself Before Deciding:
- How long do you plan to stay in the same city?
- Do you have savings for a down payment?
- What are property price trends in your area?