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Engel & Völkers Barcelona > Blog > The plan for 2018: to buy or rent a new home?

The plan for 2018: to buy or rent a new home?

The start of a new year is the best time to plan our professional and personal life. One of the decisions that have a greater impact in our life is the change of residence, especially if it means moving to another city. If you have spent some time considering the possibility of moving to a new home but you are not sure whether you should rent or buy, you might want to know the advantages of renting or buying first.

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If you decide to buy...

Buying a property is one of the most important investments that people can make. Although at first you only think about using the property as your habitual residence, it is a long term asset that you can end up using in other ways. For example, you can use it as a guarantee in a future business or turn the house into a regular source of income by renting it out. Thus, buying a house or flat is a decision for the long term.

Another advantage of purchasing a home is the closeness that comes with the property. The owners feel much freer and more motivated to undertake repairs on their property, since they can enjoy their newly refurbished home for a long time. Of course, we can not forget the peace of mind as we would be the only ones responsible for the property, without having to continuously explain to the landlord what we do with the house or apply for local authority permits. In this way, buying a home is the most advisable decision if you are going to stay in the same town for a long time.

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If you decide to rent...

Real estate rental also has many advantages for tenants. Firstly, it is the preferred option for those who move to a city during a certain time or for an indefinite period but without the intention of staying in one place. The mobility needs are fully covered, with the possibility of changing residence relatively frequently without having to go through cumbersome procedures.

Renting is also the best option for young people who wish to leave home or transfer their jobs to another location. In addition, renting in cities like Barcelona opens the door to living in some of the most central and sought-after areas with a wide range of prices. Depending on your specific needs, you can easily live in one or more homes and move from one property to another whenever you want depending on your budget.

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