Buying, Renting Or Building A House (The Pros And Cons)

This topic is one I get to hear people discuss alot lately probably due people reconsidering and planning their future due to the global inflation or the current situation of the real estate market , but atleast thankfully, we've gone past the "Should I own a house or a car?" conversation. I do have a bit of experience in either buying, renting or building a house and I would try to make you see things from my perspective and from experience but leave you with the choice of what you feel is best for you.

Renting A House:
This is probably the most common way of living in the modern world right now. All fingers aren't equal and people also have to travel for work and school. Renting is definetly an option woth alot of pros, but is a temporary option for shelter. It shouldn't be depended on entirely as a solution to shelter as your rent can be due and the owner of the house could want you out if they have other plans for the house. Renting a house gives people enough time to make decisions on where they plan to live afterwards especially during retirement. In my opinion, one shouldn't feel too relaxed in a rented apartment. It's really not ours, just a temporary solution to shelter.

Buying A House:
This method of acquiring a house is becoming so popular lately. There are always developers building houses with great designs and sometimes equipping them with installations to fit the standard of modern living. All tbe buyer has to do is make the payment and move into their new house. Its pretty simple, doesn't require so much stress and time wastage and you get to buy the house that suits your desires. However, buying a house means having so much money to spend on acquiring a house. The prices don't come cheaply and you'd be spending way more on buying a house than if you were to build the same house from the scratch (average estimate at around 2.5 × original amount used to build a house, but varies with location)

Building A House:
This is the oldest means of owning/ acquiring a house. You get to build your own house and have a permanent solution to shelter for yourself and your family. It is the most preferred method of having a house especially because it helps you save money and build to house to your taste in contrast to buying a house. But it does come with alottttt of stress and takes time to complete hence not a quick option or solution to shelter, but a long lasting one.

You can compare these options and decide which works best for you and I hope you the article explains them well enough to make a great decision. Feel free to let me know your thought and suggestions on either renting, buying or building a house.