Renting or buying a home? This is the question
Due to the economical crisis, home prices and interest rates have fallen down, so now may the time to buy your dream home. Or is it better to rent a house?
There’s not a right answer, but what is sure is that before deciding there are some questions you should ask yourself first!
Renting means lower costs (you just have to pay your monthy rent and utilities bills) and more flexibilty (you can live where you want!). Buying means owning something and, at a first sight, it seems a good investment. Probably, that’s not true anymore.
The Italian Real Estate Market
If we examin the Italian real estate market and housing index (measured by price changes of all residential properties) we can clearly see the strong fall in house prices that we mentioned before, even if an important survey conducted by the Bank of Italy shows a light increase in property selling prices.
Anyway, the situation is extremely complex, as it is shown in an interesting article published on Forbes a few months ago.
What is sure is that one of the most important deciding factor is time: if you don’t want to live in a place for at least a certain number of years, you should probably choose for renting. But if the investment time horizon is long (15/20 years), there could be good chances for a rise prices, according to economic statistic and surveys.
What’s your opinion about that?