BUILD OR RENT: Which is the better option for you?

When it comes to finding a place to live, you have two options: building your own home or renting a property.

Here are some of the factors to consider when deciding which option is right for you;

  1. Budget: Building a home can be more expensive upfront than renting, but it can also be a better long-term investment. Renting, on the other hand, can be more affordable in the short-run, but you won’t have any equity in the property.
  1. Lifestyle: If you want more control over the design and layout of your home, building may be a better option. However, if you prefer the flexibility of being able to move around more easily, renting may be a better fit.
  1. Location: If you are looking for a specific location, building may not be an option if there is no available land. Renting may be a better option if you need to be in a certain area.
  1. Timeframe: Building a home can take several months or even years, whereas renting can be done relatively quickly.
  1. Maintenance: When you build your own home, you are responsible for all maintenance and repairs. With renting, the landlord is typically responsible for these costs.

Ultimately, the decision to build or rent depends on your individual needs and circumstance. Consider the above to determine which option is right for you.

Ten years from now you will either be a tenant or landlord…….think about it!!
Demario Ddiiro

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