To Rent or to Build a Home, What is the best Decision?

This will probably one of the biggest decisions  you will do in your life. It is not easy to decide especially when  some things are missing like your finances. Whether you will be renting a place  to stay like an apartment or a whole house, or whether you will buy or build your own home, you have to consider many things when deciding for it. Either of this, there are always advantages and disadvantages. 

I have a sister who once live in Phoenix, Arizona. They lived  in an apartment and was paying for almost  $1,000,00 monthly rental excluding  power and electricity and other cost of living expenses. I was talking to her  husband that, if I was him, I would rather buy or build my own home. He told me  that he just wanted to rent a place to stay. I was  telling him, you will be paying forever for your  apartment and nothing will be yours in the future. We even discussed about that but then, he insisted to just rent a home. I guess, there was another story  behind it.

One day, I  had a talk  with my sister suggesting to her to relocate to Las Vegas, where our other sister is currently living.  I believed that is better for her so in times of emergency, there is another sister who can help her.  I also suggested to her to better buy or build a home when they will relocate  in  Las Vegas.  That is, if she will also find a job as a nurse. I was also sharing to her about investment and finance. Being an accountant and banker as my profession, I have some knowledge about these fields and I always love to  share ideas about it.

I  believed my sister convinced her husband to relocate to Las Vegas. As fa as I know, my sister’s husband applied for a nursing job in Las Vegas after my visit in Phoenix in  2012.  Luckily, he was accepted  as a nurse in the hospital there and  so  they finally  relocated to Las Vegas in December 2012.

Before I left Phoenix,  I also told my sister to have a conversation with her husband  about building a home if ever they will relocate  to Las Vegas. So as, they story goes, they relocated to Vegas and at first rented a whole house. I believed my sister finally convinced her husband to build their own home or they talked and agreed to better build one.

Since both are working as nurses, I know for sure, they can  afford to pay the monthly mortgage  for their home. I believed it is a very wise decision building their own home especially that they can afford it. Finally, last year in September, they had a house warming.  Their new home is finally done!

I am happy  for my sister who convinced her husband to build their own home. For me, this is the best decision they did because in the  future, they can say that they finally had an investment. That home they built will be fully paid  in the future. If they decided to just rent  a house, they will never own anything but will just keep on paying the rent every month.

If you can afford it, why not build your own home. I  believed,  I was also right with my decision to build  my own home. And now, I can finally  say, I have a home that is debt-free and I am happy and contented about it. How about you?

 
 

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