Owh boy, the age old questions of figuring out if renting a house is better than buying one. If you talked to any aunty,uncle, amma or appa, they will obviously tell you that owning a house is better, but if we dig deeper, is that really the case?
Seriously Though, How Much Does It Cost To Own A House?
Here is the low down on the minimum income needed to own a house (let’s face the cold hard truth, you can’t find a house in Kuala Lumpur let alone Subang Jaya with a price tag below Rm500,000)
Even though some might meet the requirements listed above, bear in mind that there will still be complications and incurred costs like lawyer fees if it is an existing property, the paper work, the stamp duty and the basic items you will need to purchase before moving into the new house.
So think about it, renting a house might just be far more beneficial to anyone looking at saving up some money for their studies or just to keep for a rainy day.
So What Are The Advantages Of Renting A House?
a. You have the choice of choosing where you wanna stay without having to worry about being tied down to the property!
Yup, you can be at the heart of the town without breaking the bank and still able to save on all kinds of things like petrol, time and stress. Just because you can afford a property 80kms away from work does not mean you should buy and stay there!
An awesome 650 sqft apartment in Subang would send you back around Rm2000+ a month to purchase, but with the amazing rental app like SPEEDHOME; a fully furnished, ready to move in house would only cost you a minimal payment of Rm1200. THAT’S RM800 TO SPARE!
b. Landlords are awesome!
Yup, landlords are awesome. Just make sure you find a reliable one! They will definitely help you if there is anything wrong with the house; be it clogged drains or short-circuited wiring, the landlords are they to give you a hand. Rest assured that any problems and issues will be taken care of. Just make sure you be a good tenant too! You can also be aware of your rights as a tenant in case anything unfavourable happens to you.
c. What can you save on renting a house?
Internet, electricity bills, furniture and the list goes on and on! Imagine if you owned a home, some items are gonna set you back monthly. For example, internet may cost monthly Rm180, multiply that by 12 and that is Rm2160! That is a whole week’s expenses for a trip to Bangkok!
d. But in the long run, does it mean i am wasting money?
Thinking in the long run is always a good thing, but properties are not something we can gauge that far. The economy changes constantly, some places we invest in may depreciate ( yes that happens more often than people say ). Never rush into buying a house. Renting will always be the safest option to gauge the real estate market, so make sure to take full advantage of the options out there.
Renting a house is big step for anyone, so make sure to comb through the location, neighbourhood, price and even the potential landlord. It may take some time but when you hit the jackpot and found the perfect house to rent, you will be ready to make it a home!