‘Should I buy or should I rent’ is a dilemma many people face at a time in their lives. Because where you’ll live will deeply affect HOW you will live, the answer requires serious consideration. In fact, there are pros and cons for both renting and buying, so there cannot be a universal answer to the ‘buy-or-rent’ question.

The main advantage to renting a flat – or a house – is that it is cheaper. This is why most students, graduates, and transit workers rent flats. Another thing to point out is that these people do not have the intention of settling down permanently. Because they take the rented flat as a temporary accommodation, they feel much like they are in a hotel. Tenants rarely try to change anything they do not like about their lodgings because they are confident this is not where they are to spend their lives.

However, the advantages of renting can be considered a plus side only in the short run. While it is cheaper to rent a flat for one to three years, every extra month you stay there is practically a waste of time and an unwise use of your money. After all, no matter how much money you pay for a lodging, you will never have it.

By contrast, when you buy a flat or a house, you buy an area that is about to be your HOME. When you reach a more secure and, if you will, sedentary stage of your life, this is the time to buy a flat or a house. It cannot be ignored that the majority of people do not have enough money to buy a flat or a house right away, and they take out a mortgage. Although this involves some risk, especially with the current unemployment rate and financial instability, most people eventually pay off their mortgages and establish a private space to belong to.

In conclusion, although renting – having accommodation – is enough for the first years of your adult life, buying – having a home – is essential for the better part of your life.