Is it better to rent or buy when looking for a change?
I'm moving out of home and we are weighing up if it is worth taking out a mortgage which we can afford (just!) or renting and just waiting for further savings to buy.
Any thoughts would be great!
Any thoughts would be great!
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Buying is better for the long term as you can make a capital gain by staying in the property then eventually selling. but for the short term renting is cheaper easier buy you can be refused a lease at the end of your lease agreement and be forced to move.
Calculate your pros and cons here http://money.msn.com/home-loans/rent-or-buy-calculator.aspx
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