Rent or buy a house. That is the big question that everyone who is thinking about leaving the family home asks themselves, especially among young people, although it is an idea that is spreading to an increasingly wider audience. The high prices of house purchases, together with the conditions of a mortgage loan, mean that the sale of real estate is not keeping pace with demand, making the rental system a very good option to avoid making a large outlay. However, the truth is that there is no magic formula: it depends on each person’s priorities, economic solvency, as well as personal possibilities and aspirations.
In this sense, the popular businessman José Elías has a clear position on this issue and does not hesitate to make it public, stating that the alternative of renting a home instead of buying “is an expense for you, but in reality it is an investment”. For Elías, renting is not throwing money away, but gaining in mobility and possibilities, something he considers crucial for certain lifestyles. In fact, he also highlights the “flexibility” that this option offers in terms of living, avoiding being “tied to bricks”.
Buy a house or live in a rental?
Not everything is always black and white. For José Elías there are also shades of grey and not everything is so simple. Despite defending the position of living in a rental, buying can be the ideal option for wage earners with stable incomes and long-term aspirations. In this way, the businessman says that “if you buy when you are 30, by the time you retire at 60, the house will be paid for. That is insurance for growing old with peace of mind”. However, there is another major problem with this complex reality: not everyone can afford to buy a house, especially at current prices. In this sense, Elías emphasizes that planning and saving are very important for those who choose to buy a home.
Along these lines, the popular Spanish businessman also referred to the concept of investments, emphasizing that they can generate “more profit” than the acquisition of a home. According to Elías, his position is that small flats generate more profitability than large ones, and he explains it like this: “a flat worth 200,000 euros can give you a return of 4.8% per year. On the other hand, one worth 500,000 barely reaches 2.8%”. According to José Elías, “the numbers don’t lie”.
Finally, and although criticism and opinions contrary to this businessman were not long in coming, especially on social networks and digital platforms, the truth is that Elías’ vision sends a clear message: each financial decision must be based on individual priorities and circumstances, but always with a calculator in hand. In other words, he defends the free market and decision-making by each family, but he does recommend using numbers to make objective and unbiased decisions, with special emphasis on a sector as mobile as real estate, where current events always take precedence.