Decision to Buy

Should you Buy or Rent a House?
There is a lot to be said about buying a house rather than renting. Over the years the average USA house price has risen in value, thus providing a tax-free capital gain. However, there have also been times when there has been little growth in house prices. Depending on where you live, the prices can change markedly.

Home ownership has advantages. You feel you have family and personal security because the property is yours and you can touch the 'mortar and bricks'. Even though the bank or lending institution holding the mortgage is the real owner, you still feel it belongs to you.

Repaying the mortgage loan can be seen as a form of compulsory saving because if you didn't have this big debt you would spend your money elsewhere.

Home ownership also has benefits because you can use your house as security when borrowing money. Also, you can do what you please to the house, knowing that a landlord cannot kick you out.

There are also disadvantages, however. It costs a lot of money to buy and run a h...

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