Advantages and disadvantages of buying a home

For example if you are going through a work time in which income is scarce and you have no stability, the purchase option is not adequate but a rent is, since it is less risky.

Advantages of buying a home

• Nowadays mortgage interest rates are very low.
• If the house is yours, it allows you to reform it and decorate it to your liking.
• As it is your property, it offers you greater security and stability.
• Nowadays it is easy to rent your home even if you have a mortgage.

Disadvantages of buying a home

• You need to have saved between 20% and 30% of the value of the house since nobody offers mortgages of more than 80% of what it is worth.
• Buying a property means having less flexibility if you need to change your city or town residence.
• It means having additional expenses such as home insurance, repairs, maintenance...
• In the case of not being able to face the mortgage, the house can be lost.