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The most important question, whether to buy real estate or rent it. Both have got their own merits and demerits. Let us try to analyze a few.
First of all let us have a glimpse on the financials. A real estate of less than 1000 sq ft in California might cost you around 4 million US dollars and the rent for a similar property is $1500 per month.
Now the other issues:
The main advantage of owning a real estate is that it builds equity. So, it may be treated as an investment for future. The real estate has got resale values and the lucrative thing is the value of real estate in most parts of the world is increasing by leaps and bound.
Owing a real estate earns you the freedom of changing the décor or almost any internal or external fixtures subject to the rules adopted by the local statutory bodies.
In case of owning a real estate the maintenance cost goes from the pocket of the owner. So if you have gone for rent, the expenses will go to the landlord, not you.
Owning a real estate sends a signal of reliability and stability to the community at large. People become hesitant in accepting the people, who are on rent, as the community feels insecurity about the people who doubt about the duration of their association.
Owning a real estate also raises the responsibility of fulfilling the tax obligations, which hardly arise for you when you are on rent.
The main advantage of rent is the mobility and in case of owning real estate, it restricts a lot from free floating. So, why not ask your mind and decide accordingly?
Knight Frank provides both the options for buy and rent – why don’t you visit http://www.knightfrank.es
By: Knight Frank
Article Source: www.ArticlesBase.com
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