Rent or buy?
It’s not always as obvious a choice as you might think.
For instance, a few years ago it seemed likely that I would be going to work in Brussels for a few years. Now you might think that since it was “a few years” that clearly renting was the way to go and so it would have been normally. However, two things made this not quite so simple. At the time, apartment rental would have been something like $1500 a month, buying something like $2000 ie little difference in price. Not only that but the expenses allowance alone for the job was such that it would have been possible to have a house almost paid for over the three year contract ie essentially that $1500 a month rental would instead have been “in the bank”.
That said apartments for rent are generally cheaper and more plentiful than places to buy. They’re probably the way to go for a temporary move but do take into account your own financial circumstances.
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Copyright © 2008-2010 by Arnold Stewart. All rights reserved.