Is it better to buy a home or rent?
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Is it better to buy a house or is it better to rent?
If you've read Robert T. Kiyosaki's books, you know he's totally against buying a house.
My position, however, is more nuanced.
My main criticism of Robert T. Kiyosaki is that he assumes everyone is in the same situation.
He's American and thinks in a market that's very different from ours, both culturally and in terms of habits.
He's also a real estate investor and starts from the principle that renting keeps capital available for business.
I agree with him that anyone in the same situation would benefit from renting.
But if we're not real estate investors like him, what's best for us?
Let's define two cases:
1. If we have a high level of Financial Intelligence, we'll most likely know how to invest our money to make it profitable. At that point, I'd better follow Kiyosaki's logic.
2. If, on the other hand, we don't have a financial education and don't know exactly how to make money work, buying a house can become a sort of super piggy bank.
Many people force themselves to save in this way, and for them, it becomes a way to accumulate money.
One last consideration is the emotional value of a real estate purchase.
The ultimate goal of having money is to improve the quality of our lives, so let's introduce another element of evaluation.
Do you need flexibility at this point in your life?
If you need it for various reasons: a temporary job, a growing family, or a relationship ending, renting is a perfect solution in this case during a time of transition.
If, on the other hand, you don't need flexibility, owning a home that feels like yours usually allows you to make a quality investment in your surroundings.
So, setting aside Robert T. Kiyosaki's rigid rules, I invite you to evaluate your own individual situation.
I discuss all this and much more in my free community. You can access it here:
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#FinancialEducation #RobertoPesce #FinancialIntelligence
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