BUY OR RENT? MAKE YOUR DECISION TODAY
Whether due to the characteristics of the contract or the cost of the investment, no one can deny that at the moment of making the decision to move to a new real estate property, one of the most common doubts that an interested investor must face arises: Should I buy or rent an apartment?
Despite the fact that, from a historical point of view, buying a home was considered a way of preserving money in an asset that not only served as savings but also provided a habitable shelter, nowadays the high geographic mobility and the overpopulation of urban spaces have changed the rules of the game a little bit.
For this and other reasons, it is of utmost importance to understand the pros and cons of each of these settlement models, in order to intelligently make the most beneficial decision for us and our interests.
RENT OR BUY?: RECOMMENDATIONS FROM REAL ESTATE AGENCIES IN PANAMA
Within the details to consider at the moment of making a purchase or rental, it must be understood that there are certain points which we must pay important attention to when making this decision, among them are:
Intention of use: If the intention of opting for a real estate property is housing or moving to another space, usually this decision is made based on the most personal preferences of an individual. However, in case the property to be rented is the search for some kind of investment, it is recommended to start a purchase process.
Time of stay: By the nature of your work, do you travel frequently? Are you looking to settle in an area for a long period of time? It is important to give answers to these questions at the time of making the investment decision, since the length of stay directly determines the most advisable option, being better to rent for the most mobile professionals, and the purchase for those in search of the establishment.
Investment margin: The purchase of a house is a heavy investment, for this reason, in case of having a limited budget, it is recommended to opt for renting while saving for a future purchase decision.
Family model: Finally, we must take into account the size of our family; if we live alone and have no desire to form a home, the rental model is recommended for its practicality, while to build a larger family, the space and comfort of our own residence that will last as an inheritance and a way of saving for our children.
Do you understand better now the difference between each of these models? Remember that, for more information and personalized advice, we are at your service.
