Is Renting Better Than Buying A House? Here's What Experts Say

"You should invest in a house when you grow up."

Sounds familiar, right? It's a line many of us millennials and Gen Zs often hear from the older generation growing up. But let's be real—with the rising cost of living and inflation, even a monthly salary of P50,000 can make property ownership feel out of reach.

So here’s the big question: Should you really prioritize buying a property? Or is renting actually the smarter move? We turned to real estate experts to weigh in and help you decide what works best for your lifestyle and future.

Of course, owning a property comes with its own advantages that non-owners do not have. Torj of Torj On Tour, a real estate expert and licensed broker, said that investing in a property, particularly land, offers an assurance that you get what you pay for because land definitely appreciates over time.

"Investing in land has always proven to be a good plan, especially when backed by reputable developers, because over time it consistently shows strong growth in value," Torj shared.

Patricia Carmello, licensed broker and owner of Real Estate With Ish, echoed the same idea, highlighting that having your own land can be a win-win situation, especially for the future. Properties can be used for income generation and provide peace of mind.

"Real estate generally appreciates over time, especially in prime or central business district locations. Locking in a property now means you benefit from future value increases, while also having something tangible and lasting. Having a piece of land also gives peace of mind knowing you've invested in a solid asset, something you can pass down to future generations," Patricia expressed.

"At the end of the day, property prices will never return to what they were 10 years ago. What’s important is securing a property at today's value, because waiting only means paying more in the future," she added.

But does this mean you are automatically obligated to buy a house? Real estate experts reveal that it honestly depends on the following criteria:

Jad Dator, a licensed real estate broker, believes that there is no one option that is inherently better. Each choice has its own pros and cons, and the decision depends on the practicality of your situation right now.

"My wife and I started by renting a condo unit near her office to minimize travel costs and enjoy more quality time together," Jad shared.

"At the same time, we invested in pre-selling condominiums (three units—not all at once!—with six months to one year between each purchase), taking advantage of extended downpayment terms (five to six years). This strategy helped us secure future homes while managing our finances," he added.

Jad stressed that your decision really depends on your circumstances. He shared that the most important thing you can buy is time. The key factor to weigh in your decision, whether you rent or buy, is to "choose a place near your workplace and enjoy life with your family."

When it comes to choosing between renting and buying, there's no one-size-fits-all answer. Torj explains that renting is ideal for those "who need flexibility or aren’t ready to commit long-term."

Patricia adds that the choice largely depends on your personal objectives and financial situation. It's really important to assess your long-term goals. Identify whether you plan to settle in a particular area, build equity over time, or prioritize financial flexibility.

"Renting can be a smart choice for those who want to 'test-drive' a location or development first, whether to experience the lifestyle, check the convenience, or simply avoid long-term commitments while still saving up," Patricia said.

"It's a flexible option, especially if you’re not entirely sure yet about settling down in that property or area," she added.

Jill Ng, a licensed realtor and owner of Jill Bisnar Properties, emphasizes that if buying isn't a top priority, renting is the smarter choice. It allows you to live comfortably in your preferred neighborhood without the pressure of long-term financial obligations.

There are always bigger options in the market. Torj explains that developers are offering more end-user–friendly solutions, such as lease-to-own, making ownership more attainable.

Patricia shares the same view: "Some condominiums offer rent-to-own schemes, where you can start by paying a small portion upfront and continue through affordable monthly payments. This makes ownership more accessible and is a smart way to transition from renting to investing."

Jill notes that while buying is often the ultimate goal, many young families are choosing to rent until they can afford their "non-negotiables" without feeling financially strained. And that's perfectly fine! 

"This generation has learned not to settle for less and is wise to put their money into growing investments that allow them to comfortably cover their monthly rent, such as a TD interest account," Jill added.