Renting VS. Buying a home

Author

The Pulse by DB8
July 27, 2023

To buy or not to buy? That is the age-old question. Homeownership was once the OG symbol of adulting, success, and all things 'grown-up', but its allure has definitely shifted in today’s economy.

The Pulse Results (47 Votes) 📈

Side A 34.04% - Homeownership is a thing of the past, renting is where it’s at

Side B 65.96% - Homeownership is an investment into your future, it’s the ultimate goal

Poll closed: July 31, 2023

Published on: March 31, 2023
Published by: Toronto Star

Once upon a time, buying a house was THE ultimate life goal, and no one could question that. But fast-forward to the wild world of today, and things aren’t so simple anymore. In recent years, it seems as though more and more people are ditching that white picket fence dream, either because they choose to or because they're stuck between a rock and a hard place with the ever-rising insurance and inflation rates.

On one side, rent enthusiasts embrace the freedom and flexibility of renting, avoiding the hassles of maintenance and unpredictable mortgage rates.

On the other side, homeownership advocates boast about the pride, success, and investment opportunities that come with owning a place to call their own.

In today's economy, housing choices have become far from straightforward. The decision to own or rent is no longer a simple black-and-white conversation of personal preference. Many find themselves with limited options, even if their initial goal was to own a home.

The only constant in life is change, and the housing market seems to be no exception! The debate of "renting" versus "buying" has always been a spicy topic, and will continue to be a spicy topic of discussion for years to come.

This conversation is far from over and we want to know where you stand!

The Debate Showdown

Side A: Homeownership is a thing of the past, renting is where it’s at

  • Renting is cheaper than owning a home - you don’t have to worry about fluctuating mortgage rates, property taxes, insurance and unexpected maintenance fees. Imagine having to unexpectedly replace your roof when you weren’t saving for it? Sounds like a nightmare.

  • Homeownership is risky. It used to be the ultimate life-goal, but it’s becoming increasingly more obvious that paying off your mortgage (as well as saving enough for a down payment) is no longer an attainable goal for many. With inflation and the crazy insurance rates right now… renting sounds like a way safer and more stable option.

  • Renting allows for a more flexible lifestyle - you can move around as you please in response to things like job opportunities, relationship changes, travel plans, etc. The possibilities are endless when you’re not tied to one home!

Side B: Homeownership is an investment into your future, it’s the ultimate goal

  • Owning a home is still the ultimate accomplishment and measure of success. It takes tremendous hard work and responsibility to purchase your first home, and there will always be a sense of pride that comes with homeownership.

  • Owning a home is an investment that builds equity over time. It is literally the smartest place to put your money, whether your plan is to pay it off and live mortgage free, pass it down to a family member or flip it and sell it to make $$$.

  • When you own your own home, you never have to worry about the uncertainty that comes with renting. Landlords suck and rent is often more expensive than mortgage payments are anyways. You don’t want to have to worry about your landlord raising rent to an unreasonable amount, not properly maintaining the property, or unexpectedly selling and leaving you scrambling.

Previous Debate

Palm payment: Convenient or creepy?

Wave goodbye to the past and hello to the future! 👋 Amazon's 'palm payments' are here, letting you pay with just a scan of your hand. No more cards or wallets needed. But is it convenient or creepy? We'll leave that up to you!

debates.db8.com/p/palm-payment-convenient-creepy

The Pulse Results (43 Votes) 📈

Side A 30.23% - Palm payment is the way of the future, it’s cool and convenient

Side B 69.77% - Palm payment is an unnecessary gimmick we don’t need, it’s creepy and dangerous

Poll closed: July 26, 2023

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