There might be instances where you might be stuck in a situation where you could either rent out a place or buy an apartment. So when analyzing why it’s better to have your own place there are many reasons why it stands out from choosing to rent a place.
First of all, having your own place means that you are your own boss. And you might not have rules to adhere to. You could possibly do whatever you please and not expect anyone to yell at you. If something breaks’s it won’t come off as a problem to you because it’s owned by you. Therefore you need to make sure that you have your own furniture and that you don’t get into a service apartment. Because in that process the furniture ‘sill be owned by someone else this will hold you responsible if you end up damaging any equipments.
Second of all, you won’t be put in a situation where you need to constantly keep paying rent every month. Paying rent can be troublesome, because an amount will be constantly deducted every month from your wages and it might stop you from making other plans like going on holidays or getting you a fancy vehicle. So unless it’s a serviced apartments in Singapore which you are looking at, it’s always good to invest all the money and buy a place rather than renting one out.
Thirdly when it comes to choosing between an apartment and a house it could be quite challenging. But it basically depends on your needs. It would be more appropriate to go for a house if you are a family man and have kids, because the kids could use up the garden space for their activities. But if you are a bachelor who is living alone and who has a busy life it would be better to go for an apartment. Owning your own place also could be a source of income. If you end up owning more than one place, you could always rent out another which would work as a source of income for you.
One of the best perks when comparing an apartment to a house is that, it could have amenities within them. The apartment could include a gym or even a swimming pool that you could enjoy and make use of to the fullest. Some apartments also go to an extent where they provide laundry facilities. Usually such apartments are located in areas where convenience stores, restaurants and such exist. This will make it further effective and convenient for you. So it’s important to always choose what fits your purpose best.