After the excitement (or dread, depending on the case) of the wedding has worn off, or maybe even before the wedding for some, the couple face a number of important issues that they have to decide on. One of these issues relates to the family home.
Of course you won’t have this problem if your rich parents (ninong or some other relatives) gave you a house as a wedding gift, or if you have more than enough money to spend to buy a house. This won’t also apply if the spouses would be brave enough to live in the house of the in-laws, although this is a different matter altogether. The usual issue is whether to gather all resources and buy a house, or to save enough money and rent in the meantime.
Renting a house is lighter to the pocket and frees the budget for more pressing items; childbirth, for instance. This would allow the gradual savings with a view of buying the dream house. Maybe the spouses would want to use the capital for some business venture or investment, grow the money, then use the income to buy a house.
The spouses may realize later on, however, that the monthly rentals add up to a sizable amount — enough to buy a house or equivalent to the installments of certain housing projects. Some developers (usually of condominium units), perhaps realizing this dilemma, offer units on a rent-to-own basis.
So, there you go: to rent or to buy? Let’s hear your thoughts.
(Photo courtesy of freepixels.com)
