A
female
age
41-50,
anonymous
writes:hi all need some adviceive saved 25,000 pounds and wants to know whats better renting or buying a one bedroom place any advice will be great . my family says get a mortgage and my mates says rent help Reply to this Question
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female
reader, anonymous, writes (30 April 2011): You will always need a home. So why pay to live in someone elses when you can have one of your own? Definately buy, i did and have never regretted it.
A
female
reader, chigirl  +, writes (29 April 2011):
 A house would be nice yes, but a one bedroom? Do you intend to be alone for a longer period of time?
A two bedroom apartment is the way to go if you want to buy and you are still young. Because as you grow older you might have a boyfriend who wants to move in, or you would appreciate the practicality of a guest bedroom and the extra space. Maybe you end up with a kid, would be nice to have an extra room then too.
The only time it pays off to BUY is if you STAY there for a greater period of time, say the next 10 years or so. If you only plan to stay a place, or think you will stay for 2-3 years, renting is better. Selling a place, and all the extra costs, is just not worth it unless you can spend time paying off a mortgage.
If you have a steady job, and live in a city/town/location you can see yourself staying in for the next decade or more, buy a place. Preferably a two bedroom one, but if a one bedroom is all you can afford that is better than renting still.
Ask your bank for how to finance a mortgage and see how your monthly costs would turn out depending on what size place you buy, then compare that with the monthly costs of renting.
Usually renting is cheaper on a monthly basis, but if you buy you will eventually save money on it (you will get money back if you sell, and you can use the house/apartment as safety if you take up a loan). With time (10-20 years) you should see a decrease in the monthly expenses of a bought place, and after 30 years in average you should have managed to pay down the entire cost of a bought place. A house or apartment tend to increase in value over the years as well.
In addition if you buy a two bedroom place you can rent out the other bedroom, or you can rent out the entire apartment if you want to go away for a few years.
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A
male
reader, CaringGuy +, writes (29 April 2011):
Buy a house. The reason? Rent is money that you'll never get back. With a mortgage, you'll get the money back eventually. Renting is something that should only ever be short term if possible. If you have the money to buy a house, buy because it is an investment that will one day pay off. Plus you'll be able to do more with a house you've bought that one you've rented. You can make your own house your own, with anything you want in it. With a rented home, you can't add anything.
100% buy a house instead of rent.
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A
female
reader, Julliet  +, writes (29 April 2011):
 Your family is right...your mates are jealous and unfortunately, don't want to see you make good progress. I would definitely buy. The mortgage is a investment while the rent is not going towards anything, but a landlord. So in other words, Buy, buy, buy...good luck...:)
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