Which is more profitable – buying an apartment for a payday loan or renting

Many young people do not own their “M” from their own savings, which is why some of them rent apartments and others prefer to take out a payday loan and buy property on their own. Which solution is more profitable? Buy or rent?

Arguments for “buying” a home for a payday loan

Buying your own flat in a bank payday loan or with the participation of such a payday loan will make your dreams come true. After some time (the payday loan period), the flat will be owned by the borrower. You can freely arrange them, invest in the comfort of living with the knowledge that it is our property.

Given the fact that real estate prices are rising in the long run, you can treat your home payday loan as the price we have to pay for the entire investment. After repaying the payday loan, and even when it is repaid, you can always sell the property – often at a profit. Even if we buy a flat for a mortgage, its installment sometimes corresponds to the cost of renting. It does not matter whether we transfer this money to the bank or to the owner of the rented flat.

Interestingly, the benefit of taking out a payday loan for an apartment is forcing us to save habit. You have to pay monthly installments and bring us closer to getting a flat, while renting, it would be difficult to save money. More likely, they would be spent on current consumption.

Defects of the payday loan for an apartment

Defects of the payday loan for an apartment

A mortgage is a heavy burden that will accompany your home budget for 20-30 years, depending on the payday loan period. We must be sure that we will pay its repayment, and yet we do not know what will happen in a year, two or 10 years. Not everyone will receive a payday loan for a flat from a bank. Appropriate conditions must be met for it to be taken. A housing payday loan is drawn up, for example, for 200,000 PLN, and often repays even twice as much, only that spread over several hundred monthly installments.

Or maybe a rental?

Renting an apartment also has its supporters – there would not be as many renters if such a solution would not have any advantages. Deciding to buy a flat, usually we can not afford to buy real estate in a desirable district of a large city or a specific area. Due to the price, the apartment may be smaller than we need, and in addition at the other end of the city. Renting a flat allows mobility – we do not have a fixed place, which is important especially for young people who are willing to change their address quickly if they find a better job. When renting the landlord pays the rent and utilities, and the remaining costs, also related to major repairs in the apartment, rest on the owner. For those who decide to rent, the most important thing is that they have no obligation in the form of a housing payday loan, with the prospect of paying it back to the late years of old age.

What is more profitable – buying or renting?

Deciding whether to take out a mortgage and buy an apartment or rent it better is not easy. It is worth checking out what is more advantageous in economic terms. Buying an apartment in a housing payday loan makes sense if we plan to live in it for a long time, and for shorter periods the rental is more cost-effective. In the event that we have a substantial own contribution to the purchase of a flat and take out a small mortgage, it is better to have your own flat in a payday loan compared to renting a flat. Finally, when paying the payday loan, we remain with the act of ownership of the property, and when renting a flat, we pay someone to rent and we can only live in the premises for the time set.