Is renting property too expensive?
So you go and decide too rent an apartment. So you live near a major city and now you have found the cheapest apartment and it is a one bedroom with a small kitchen and a very small living room and a small bedroom and it is going too be 800 dollars a month. If you keep looking and you go and search for an apartment 1 hour away from the major city and find a 2 bedroom with a big living room and a full size kitchen and a bathroom and it only costs 500 dollars a month or maybe even 800 a month. So the point is, is it worth living near a major city and living in a overprice place? Is it right for people too charge almost twice as much to live on the property than it actually is.?
The same goes for buying a house or renting one. Is it fair to pay a half of million dollars for a 3 bedroom house when you can buy another 3 bedroom house an hour or so away for about 200,000 and save 300,000 dollars. Almost anywhere you go or live, you will find prices like these and it is kind of ridicules that property that is an hour away from each other could be such a huge difference in pricing. So it all depends on the area I guess.
On the other hand, renting allows for freedom not afforded to the homeowner. Immagine paying under $1000 for a decent apartment, utilities included and having the freedom to travel, the lack of financial commitments to repairs, taxes and insurance.
Either way, there are ups and downs. Having done both, I enjoyed having a yard when I owned, but I like being able to take off whenever I want and not have to worry about leaving an empty house. I also like the social aspect of being in a building. Over the years, I have made some good friends - not so easy in a house. So it comes down to a lifestyle choice. If you are planning a young family - for sure owning a house is more practical, otherwise, rent - its cheaper and a lot more convenient. Cheers!