Housing: What Is Better To Buy Or Rent?

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The question we regularly ask ourselves is, do I buy or rent? and more so now with the high prices in the rents and the financing too advantageous in favor of the banks.

This decision is one of the most important in people's lives. Buying is not easy, the decision is not simply to choose what we like. You have to have at least an idea of ​​what type of buildings are the most suitable for our lifestyle, the materials with which they are made, the age of the property. As well as the materials with which they have been finished.

Also, the states of charges are the most important. Therefore, it is essential to see if the house or apartment has debts or does not have them. Those debts are put in the contracts with small print. Even find out the general expenses that are going to be faced once the property is acquired and even possible spills.

Why choose to buy? What many people do is look for purchase options because the rental price is so high that it is more worth paying a mortgage than rent. But, as two markets are so different, it is important to take the following into account.

Access to housing

To be able to buy, you must definitely have savings. Previously, mortgages covered 100% of the total value of the property, now they no longer cover that 100%, and also the procedures also carry an expense. This situation of high prices, difficulty in accessing financing, and the lack of savings makes it even more difficult to acquire a property.

No less difficult is the question of rent. This point also has an initial outlay that we often do not take into account. Mainly due to the famous bonds and the months in advance, the monthly payments of the services, among other things. But the money you need to buy is not the same as the money you need to rent.


Currently, bank interest rates are at historic lows, which helps to keep mortgage payments low. But you have to be very careful when buying because right now it is attractive, but with variable mortgages sooner or later, they will go up.

What is true is that when deciding to rent our property when it is fully paid, ending 20, 30, or 40 years of financing the property, it is time to obtain benefits from it.

There's no doubt that there are many benefits of buying a home instead of renting one. If you're looking to buy a luxurious house in Tampines, then you should go for the Parc Central Residences project. This EC strategic location provides high accessibility for residents smartly adjust to luxury amenities and features. You can find more information regarding this project on their website here: https://www.parccentralresidences-official.com.sg

Tips to take into account when you decide to buy or rent

It is advisable to do the calculations well when we are going to buy a property, and above all to anticipate the amount of monthly payment that will be paid in case the rates rise. Since what it is about is that this monthly payment at the end is an investment that helps finance our personal projects.

When buying, we must take into account our economic possibilities and our perspective on life. Since when acquiring a purchase you need a good outlay and long-term debt, the famous mortgage payment, which can affect our professional or personal projects.

When deciding on a rental, you are anticipating if we change city or job, sometimes we are perhaps accessing a home that we could not buy due to its location or characteristics. This will also change if you have a somewhat more unstable life.

Any option is good, as long as it is analyzed in depth so as not to cause economic changes that can become fatal. If the decision is to buy, one should not commit to paying more than 30% of gross annual income.

The decision that is made must be based on the circumstances and assess future plans in order to make the best decision without relying on the mortgage payment or the monthly rent, everything will have to be considered.

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