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Monday, May 18, 2009

Own or Rent?

If given the chance, will you prefer to own or rent your place?

In my opinion, there's no sweet and safe security that will equal to you owning your own place. It is like having a great fortune to think that you have something that you have total control of.

Although of course, it will not always be easy if you want to own one. You have to go through all the rigors of saving money, letting go of your little luxuries and learning some technicalities about owning a property.

Just like what we are experiencing right now. We just finished paying the equity of the townhouse that we got months ago. Now, my fiance Johann is the one in charge of monitoring the building and construction from time to time since he is now living in the same village where we bought the house.

Of course, that was just one phase of payment that was done. We still have to apply for a government housing loan and pay for it for a certain term (while having it rented because we now have another and much bigger house to look out for).

While we are doing that, we also have to pay a certain amount to my parents after our wedding because we are planning to stay in the house that my parents bought but was placed under my name. So technically, we have to take care of two houses, what a blessing! :)

But that also means that we should have to work double time to make money online and work on our future budget together. :)

So that's our take on it. How about you? Would you rather own your place or rent a space? :)

1 comments:

betchai said...

is this your other blog nhil? like you, i feel more secured when i do not have to worry if i have a house to go home to when worse thing happens, but that sense of security only comes in after paying the house in full and be out of debt, which sadly, is not the majority of the case here. a lot of people feel they own their houses when they actually in a sense still renting it because they still have years ( 20 or more years to pay). also, even if the house is paid in full, the taxes here can kill as well, so, it is always good to save....save....save that even if you retire you can pay those high property taxes :(