What are the pros and cons of buying a house just to rent it out?
Do some countries own home rather than rent?
Do you think this is a positive or negative situation? Many people today value owning their own home over renting. Whilst the majority of Egyptians prefer owning their house, in the developed countries they prefer to rent rather than own because of affordability factors, property taxes, and maintenance costs.
What are the advantages and disadvantages of owning your own home rather than renting?
Owning vs. Renting
| Own Or Rent | Advantages |
|---|---|
| Homeownership | Privacy Usually a good investment More stable housing costs from year to year Pride in ownership and strong community ties Tax incentives Equity buildup (savings) |
| Renting | Lower housing costs Shorter-term commitment No/minimal maintenance and repair costs |
What are 3 disadvantages to owning a home?
Disadvantages of owning a home
- Costs for home maintenance and repairs can impact savings quickly.
- Moving into a home can be costly.
- A longer commitment will be required vs. …
- Mortgage payments can be higher than rental payments.
- Property taxes will cost you extra — over and above the expense of your mortgage.