10 years
If you have a bigger budget and can afford buying a property then you must buy. It would save you from monthly expenses.
Buy or rent property for hostel business?
Start a Hostel
Hi!
I have always been curious, do hostel owners usually buy or rent the properties for running a hostel?
The properties where I am staying are very expensive.
Buying would be ideal I am sure but when the owner does not have the capital to buy, what happens after the rental lease is up?
Usually its a two years lease term here, and after spending money on renovation and furnitures etc, what will happen?
- Comments
10 years
I find this post very interesting. From time to time, a “rent-or-buy” comparison will come out on a business news site. Many of them are mendacious if not outright propaganda, as most leave out a lot of data and hidden costs of home ownership. For me it is more ideal to buy than rent because you are putting money into something that’s not yours.
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