Are you yet to decide whether to buy or rent a house in Lagos? Honestly, both ideas are laudable. Although, one has huge advantages over the other. I have highlighted some pros and cons to help you make an informed decision.
Flexibility – Renting a house in Lagos instead of buying, gives you freedom to relocate at the expiration, if you do not like your current house. When you buy a property, you are the owner and may not be able to move elsewhere, in some cases unless you want to sell the house.
Ownership – Buying a house in Lagos makes you the sole owner. An added advantage will be you living according to your own rules. On the other hand, renting may subject you to the owner’s rules and regulations.
Payment – Buying a house is costly and maintaining it will require a fortune depending on the quality and location. Renting may only subject you to yearly rent fee together with little or no unplanned expenses as the owner will be responsible for all.
In conclusion, you will agree with me that it is not entirely bad to rent instead of buying a house in Lagos depending on your financial status. But the advantages of buying is much compared to renting. Hence, we advise you to buy a house in Lagos instead of renting.