Renting or Buying a Home – Which Is Cheaper?

Most of us would claim that renting is cheaper than buying. We have finally done some basic calculations to find out whether this is another myth. Our conclusion is: average rent payments are HIGHER than average mortgage payments.

How might an increase in interest rates make it worse to buy?

Mortgages make us pay back the money we borrow. Next, we are supposed to cover the interest put on it. Some experts say that rates could go up in the nearest future. The world’s market keep growing and developing all around the globe and, hopefully, the increase will be not too sudden. We cannot deny the fact that mortgage repayments will inevitable climb up and the two prices will be brought closer. Nevertheless, it’s impossible to guarantee that rents won’t increase. So might mortgage repayments paid to landlords.

Renting or Buying a Home Which Is Cheaper How might an increase in interest rates make it worse to buy

Can renting be the only option?

In spite of all the changes, some of us won’t be able to buy a home since the rents will be too high and saving for a deposit will be even more difficult. There is little an average person can do to change the situation and win the battle against the world’s property market – rents will still keep rising.

Renting or Buying a Home Which Is Cheaper Can renting be the only option

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