Rented house or owned house?

In my country i prefer own house and outside its rented house but if i get good deal to buy a house in other country and  when i leave i will get good price then why to pay rent better buy and then sell it...........

This couple built their own tiny home for $10,000
http://finance.yahoo.com/news/this-coup … ZJUDQwMl8x

mal wrote:

My friend in USA thinks, buying a house somewhere is not a wise idea in life. He says it will become an extra burden to sell it back someday, if he will decide to relocate in a new state/country. But in my case, I don't feel  a rented house as a 'home'. as it is like I am under supervision of someone else.  Is this some weakness of my mentality?   Owning a house for a local is not a very big thing in Asia. Normally before getting married, a guy tries to build a house for his future family or as soon as a couple gets married they will try to own a house before kids come. How about it in other countries? Is it very expensive to build a house in your country?

Mal to build a house in any country is expensive now a days ...........but it depends which type of house oneself is trying to built....

A house can be a good long term investment and if you own property it is easier to get a loan.

I agree that a rented property, irrespective of how long you live in it, can never be 'your' home.

When Owning Your Home Doesn't Pay
http://www.investopedia.com/articles/mo … nt-pay.asp

Owning A House Vs. Renting An Apartment: A Cost Analysis
http://www.communityhousingnetwork.org/ … ntentid=96

John C. wrote:

This couple built their own tiny home for $10,000
http://finance.yahoo.com/news/this-coup … ZJUDQwMl8x

With that money we can build more spaced house in Sri Lanka. I don't think I will be happy to live in this much tiny, compact house. 

stumpy wrote:

A house can be a good long term investment and if you own property it is easier to get a loan.

Yep. Good point

aryavrat wrote:

In my country i prefer own house and outside its rented house but if i get good deal to buy a house in other country and  when i leave i will get good price then why to pay rent better buy and then sell it...........

My friend only wants to stay in Washington, until he is young enough to work. After that he will relocate in another state or another country, may be in Sri Lanka.
Another point I want to know from you-my friends.
In most of Asian countries foreigners are not eligible to buy a property. But generally how about it in other European countries? May I have to ask this in the specific country's forum?

For an expat to buy a house immediately doesn't make good sense. They first of all really don't know for sure if they're going to remain in the country and if they do, what part of the country they will choose to settle in.

Also it takes time to get to know the real estate market and home values in a country, especially larger countries.

Rent for six months to a year then decide if buying is in your best interest. You've got to consider the cost of the house, down payment required and the monthly payments you make on the mortgage. If you have already got the money for the down payment, then it makes no sense to continue renting if your mortgage payments would be less than renting a similar home.

Cheers,
William James Woodward, Expat-blog Experts Team

Thank you James
In my case, I have sold my house about an year ago and bought a bare land. As I did not hope to stay longer in Sri Lanka I didn't want to take loans and build a house in it but shifted to a rented house! I do not like it as I am not used to rented houses.   In Sri Lanka we do not have that system to buy/build a house as installments. If you have money, you will build your own house. But for fixed income employees or  successful business ppl can get bank loans.

In most economies, buying a house requires a mortgage and thus up to 30 years repayment commitment. It is most probably the most expensive single item you'll ever buy in your life, and it ties you down geographically.
Renting gives you more freedom to move, change job or explore new places. And with a bit of effort, a rented place can feel like home, too.
So this is not a decision to be taken lightly!

I never wanted to be tied down, but live an international, independent and flexible lifestyle. Thus I didn't want to buy a house to live in myself, and neither did I ever buy anything on credit.
I bought a few houses, over the years (in various countries), as investment and to rent them out. And since restoring old things is my hobby, I also bought and renovated a historic (200 years old) building that I currently live in (but had also rented out during previous stints elsewhere).
Nobody else should be crazy enough to follow my example (but I would do it again, because it suits me).

mal wrote:

aryavrat wrote:

In my country i prefer own house and outside its rented house but if i get good deal to buy a house in other country and  when i leave i will get good price then why to pay rent better buy and then sell it...........

My friend only wants to stay in Washington, until he is young enough to work. After that he will relocate in another state or another country, may be in Sri Lanka.
Another point I want to know from you-my friends.
In most of Asian countries foreigners are not eligible to buy a property. But generally how about it in other European countries? May I have to ask this in the specific country's forum?

There are some countries in africa and even in asia if you do it in a purpose of investment like you are investing in that country to work and also bought a land or built a house it is acceptable and european countries also i know people buy houses but they are not from the original country...............

I think it is very personal.

In my case I was never abele to buy a house in the Netherlands, so I rented.
For me I never felt it wasn't mine, of course you pay rent, but there is a saying: Your home is where you heart is.
Due the economic crisis in the last years many people who have a mortgage  were (and maybe still are) in heavy financial troubles, specially in Europe. For the first time we bought a house in Jordan, cash! The prizes are low comparing with Europe but it depends where you buy your house.

In Jordan, and probably in the whole Middle East, it is normal to build your own house. When you get married, you have to build a house. The father of the groom is responsible for this and very often they build a extra floor on the parents house, This is the reason why you see so much "unfinished" houses. If your are wealthy enough you can build your own house and you don't want to live very closely by the family. When you don't have money at all you live with your in laws...
If you not want to build, you can buy a house/apartment. If you don't have enough money you can take a mortgage,

I can fully agree what Beppi wrote.
You can see this as an investment and you can rent it out if you are not in the country of you want to earn money at this way.
This is very common in Jordan too.

On the other hand: many expats rent their houses from real estate brokers and I can tell you that these houses are very expensive.

I agreed with you Primadonna..............