Answers.com > Wiki Answers > Categories > Business & Finance > Personal Finance > Money Management > Loans > Mortgages > What are the advantages of buying a house versus renting a house?

What are the advantages of buying a house versus renting a house?

In: Mortgages, Home Equity and Refinancing, Foreclosure [Edit categories]

Answer:

When you buy a house, you just need to pay one lump sum. There will be no additional charges unlike renting a house which may eventually be more expensive than buying a house alltogether. Also, when you buy a house, you can redecorate freely rather thn waiting for the Landlord giving you permission

First answer by Answers Publishing Network. Last edit by Answers Publishing Network. Contributor trust: 102 [recommend contributor ]. Question popularity: 2 [recommend question].

[report abuse]

Sources and related links: [Edit]

Renting Versus Buying A Home - Questions To Ask

Can you answer these Mortgages questions?

	Where do you send your bank of America mortgage payment as you live in Idaho?	Answer it!
	How do you get the martial home in your name after divorce and your not on the mortgage?	Answer it!
	Do all mortgage companies have promissory notes?	Answer it!
	What happens when you pay of your mortgage from home does you home equity line of credit stay with your home title?	Answer it!
	What is the difference between PPI and Mortgage protection?	Answer it!

Relevant answers:

Buying a house or renting a house?
If you can buy, definitely do that. That way instead of paying rent, you're paying off your mortgage. It depends on the relative cost of buying versus renting in your area. In many places it costs...
Should you move in with someone renting a house when you are buying your house?
Purchasing a house does give you the rights and benefits of home ownership and can be a worthwhile investment and also usually recommended once you are sure that your relocation will be a long-term...
Advantages and disadvantages of buying a house?
This is by no means a complete list. Disadvantages of having a home:- Repairs are your responsibility- Lawn and other maintenance are your responsibility- Certain taxes and insurance are required-...
What are the advantages to renting a house?
One advantage to renting a house is that you are not responsible to fix something when it breaks or needs attention. You just call up the landlord, and they have it taken care of. You also do not...
What is cheaper buying a house or renting a flat?
Buying your own house is always cheaper, then renting a house. However, there are certain things to consider. For example, do you plan on living in that place for a long time? What's the location?...