And you, which are you: buying or renting?

He loves me, he loves me not. Buying, renting. The decision to buy or rent a home is very sensitive. If in recent years in Spain buying has reigned with 72%, millennials are changing the trend with a radical shift towards renting.

Financial issues to consider

Economic Impact
The choice between buying and renting should begin with an analysis of the economic impact. Buying involves a significant initial outlay for a mortgage, but in the long term, it becomes an investment as the property appreciates in value. Renting, on the other hand, does not require a large initial outlay, but is considered a payment for a service, not an investment.

Stability vs. Mobility
A crucial aspect to consider is your desire for stability or mobility. If you prefer a fixed place for the long term, buying may be the best option. However, if you value the freedom to move, renting offers greater flexibility.

Trends in a changing market

According to recent studies, only 13% of Spaniards choose to rent, while 24% are looking to buy a home. Factors that influence this decision include job stability and increasing disposable income. In addition, 79% of respondents would not be willing to pay more than 200,000 euros for a home.
An emerging option is rent-to-own, which combines the advantages of both. In addition, more and more people are considering buying properties to rent them out, reflecting a change in mentality towards real estate investment.

Pros and cons of each option

For those who want to buy, the advantages focus on increased personal wealth, freedom to personalize the home, greater stability and long-term security.
Like everything in life, everything has its good and bad sides. For example, it requires a long-term financial commitment and you have less flexibility to move.
The advantages of renting are simple: greater flexibility and mobility; and also, lower initial outlay and unforeseen expenses generally covered by the landlord.
On the other hand, we have that you do not acquire assets and that the market is changing. What was one thing yesterday, may be another tomorrow.

The personal part also counts
It's essential that your decision is based on your personal circumstances, such as your employment status, financial stability, and long-term goals. If you're looking for the security of a home of your own and plan to stay in one place, buying may be more appropriate. On the other hand, if your work or personal life might require mobility, renting may be the more sensible option.