ISSN: 2222-6990
Open access
Housing decisions either buying or renting are always associated with financial affordability. Apart from financial conditions, there are other attributes that might influence a housing decision as both homeownership and renting has its own advantages and disadvantages. This study provides perspective on both housing choices, which presents two research objectives. Firstly, to identify the advantages and disadvantages between buying and renting a home and narrative literature reviews and SWOT analysis were used to obtain this research objective. Second research objective is to identify the housing decision trend among young professional and in-depth semi structured interview methods that have been used and analysed using narrative analysis. Briefly, homeownership offers securing a permanent home with stability in mortgage monthly payment while the renting market tends to increase periodically. However, renting is ideal for households who tend to mobility but households with children prefer homeownership due to its offer neighbourhood stability. This study also found that the young professionals were able to afford buying a home at the age 28 and 29 year old, which they were in the rental market or parental home after the student pathways.
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In-Text Citation: (Sohaimi, 2021)
To Cite this Article: Sohaimi, N. S. (2021). Should Young Professional Buy or Rent a Home? International Journal of Academic Research in Business and Social Sciences, 11(1), 867–876.
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