Buy or Rent?
Learn how to make the right choice considering financial factors, practical pros and cons, and tools for finding the right price.
Mārtiņš Kozlovskis
Key takeaways
Buying builds equity and shields you from future rent hikes, but locks up capital and requires long-term commitment.
Renting offers flexibility with lower upfront costs, yet you forgo equity and risk rent increases.
Break-even in Latvia is ~6–9 years, depending on mortgage rates, maintenance costs, and the property valuation price.
Always check the market first — use Hesti’s data catalogue, our price calculator, or public tools like Cenu Banka.
Financial considerations
A mortgage demands a down‑payment, interest and property tax. Renting usually only requires a deposit and a monthly fee. If property prices (the nekustamā īpašuma vērtēšana cena) rise faster than rents, ownership tilts in your favour.
Practical pros & cons
Buying lets you renovate, keep pets and stay as long as you wish, but selling takes time and money. Renting allows quick relocation and minimal responsibility for repairs, yet the landlord may limit upgrades or end the contract.
Tools for finding the right price
Compare prices before you sign: Hesti market data catalogue, interactive price calculator and public databases such as Cenu Banka are trusted by professional īpašuma vērtētāji (property valuers).
Conclusion
Whether to buy or rent depends on your finances, lifestyle and how long you expect to stay. Crunch the numbers with a calculator, review neighbourhood trends and consult advisers before making the call.