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If you're young and haven't inherited a property from your ancestors, chances are that you're forced to rent. Personally, I've been renting for over 6 years and have been living with my girlfriend for the last 4, sharing rent and utilities. Overall, we've both spent over €25,000 together, and after spending all this money, you're practically left with nothing and may be subject to looking for a new house at any moment.

The average rent for a one-bedroom apartment is between €300 and €400 at best; thus, I was thinking that taking a loan is as costly as paying rent per month, but after 15-20 years, you end up with a house. My main concerns are the following: First, if you're in a long-term relationship like myself, you can never be 100% sure that you'll be with that person in 20 or 30 years from now, which might prevent you from opting for a loan. Secondly, you need to be certain that the location or city of the property to be bought is convenient for future job offers and so on. Thirdly, because a loan is a many-year commitment, there's no guarantee that you'll be able to afford the monthly payment 15 years from now.

On top of that, finding the ideal house as a renter is almost impossible; there's a lack of housing, and rents are extremely expensive and unreasonable at the same time. We had a difficult time finding a house recently, and it's far from ideal. There is now a new government-funded loan program that is about to start, funding up to 75% of the loan interest-free while the rest is funded by private banks and is subject to a relatively low interest rate. This led me to think about taking a loan and purchasing an average two-bedroom apartment, but I have the concerns that I voiced earlier.

You're clearly in a country with pretty low rent price. I don't know which country that is, but I'm also from a country like that, and I can say that I'll keep renting in the near future for several reasons, but a very big one being that we don't have a good well-developed mortgage system with adequate interest rates and long-term contracts (like you say, 15-20 years). My friends in Scotland opted for mortgage because to them, it was cheaper to pay the monthly mortgage than a monthly rent in the same district of the same city, so this way you both pay less and are living in basically your own flat. And the sum was very reasonable per month for that city, something a lot of people can afford, especially if it's a couple with both earning money. In my country, you'd need to pay around 3 times more for mortgage than the monthly rent, and you'd still find it very hard to find a mortgage deal. It's very unpopular, the interest rates are some of the worst I've seen looking at many countries, and it wouldn't be for 15 years because there's no trust in long-term economic stability (for good reasons) but instead, like, 5-8 years to pay for the whole flat.
So you need to investigate the country you're in, its situation and deals, the safety and reliability of mortgages there, and then make an informed decision.

It's a big it depends. Are you handy enough to fix things at a place you own or is every little thing going to require you calling in a repair person?
How secure is the area in terms of home prices. In *general* home prices will keep going up. But you can ALWAYS point to areas some large some small that were hit hard for one reason or another in a real estate downturn that DECADES later are still below value.

What about selling it if you have to change jobs and so on.

The standard reaction is yes, get a house don't rent.
Then you see people who are just walking away form a home for various reasons destroying their credit and finances for years, when renting would have obviously been the better option from the beginning.

So as I stared with, it's a big it depends.

-Dave

There are pluses and minuses in absolutely all cases.
If you want to buy a place:
* you will most probably buy it a bit farther from where you'd work (so you can afford to buy it), meaning you lose a lot of time in commute (no matter if it's car, bus, train or whatever)
* taking a loan is, as you said, something not too easy to take and may need certain advance planning
* even if you buy a place, it won't be like you have no other costs than just paying it back, maintenance and utilities are to be paid
* if you lose your job you may be forced to quick-sell your place, possibly even at a (great) loss
* you may end up - sooner or later - with neighbors you simply don't want to live near them (stinky, noisy, whatever)

On the other hand:
* even if the place is bought with a loan, you can still sell it if your relation doesn't work out or you want to go working in another city or country; though it may worth it selling only after at least 3 years
* the prices for houses/flats tends to go up - actually it's a sinusoidal with higher and higher ups - but it doesn't hurt watching the market and don't buy at top and sell at bottom; still it's usually a good long term investment.

Staying in rented place:
* no need for commitment
* it can be near (or at least not too far from) the work and the fun places
* you have the flexibility to easily go rent somewhere else if you change work or you don't like your neighbors


It's up to you to weight the pluses and the minuses; I' might have even missed some. In theory buying your own place is a great investment; in reality, not all cases/situations are that nice.
However, my analysis is valid for my country. Some points may differ in yours.

All the points or the limitations you raised are just fear of the unknown. Nobody knows the future that is why there are no perfect decisions. Life itself is a risk and it is riskier not to take risks. If you think house rent is eating your finance deeply and making you not have personal savings, it might be good to take the loan a get a house.

It might also be possible that you might remain with your girlfriend for life because she might end up exceeding your benchmarks or expectations as a husband. It can also be possible that the house location might become a megacity that would make the price of the house appreciate, that you might decide to sell it, get a new home and make a huge profit. There are also possibilities that you might get a better job that would give you the financial strength to repay the loan even earlier than the maturity date. The truth is that your concerns might not even happen in the future.

Problems of the first world citizens. "I don't know if I should buy a house here because I'm not sure if I want to live here in 10 years" while in poor countries people save up to get central heating so they can stop with chopping wood once and for all.

I had 2 friends who rented out and they kept doing it until they got married. Once they did they took a loan and bought apartments because they both said that the installments were almost the same as the monthly rent but at least they live in their own place and will have something to leave their children when the time comes.

The minimum wage is at €620, with an average of €700–€800; thus, a rent of €400 is prohibitive if you're planning to live by yourself. Even a couple may struggle. With this upcoming loan program that I mentioned, the monthly payments are actually a little cheaper or approximately the same as renting.
Certainly, there's no direct answer to the question, but yes, the general rule is to avoid renting if possible. I'm generally quite handy when it comes to house repairs; I'd be able to repair a few things that may occur, but it doesn't apply to costly appliances such as a fridge or an oven.
Definitely, both options have their benefits and drawbacks, but some of those you mentioned apply to both renting and buying. For instance, at least in my case, finding a house near the center is a huge issue for two reasons: higher rent costs and a lack of parking spaces. However, the largest issue with a loan is commitment, whereas in renting, you can practically leave whenever you want.

The ideal is to acquire a house, but sometimes we have no choice besides renting. Like myself, I've been always against renting, but now I had to go for it, paying 135$ monthly in a suite, in order to be able to seek for a higher educational level in another city. I concluded we can't be too strict on our views in a way it's going to paralyze us in life. Life is constant movement, and if we have to "waste money" renting a house or apartment to advance in life and persue goals, that we do it without regrets!

Also, if you live somewhere precarious and non-promising because a temporary job, better that you just rent, as the investment there will be lost, since these areas don't make your property gain value on long term.

When we do talk about the future then it is something that cant really be known due to no one really knows on what would happen ahead and this is something makes it even more harder.I do love the idea
or thinking on having advanced and its true that we cant really be sure that we would really be lasting up for so long into that person you are living with or the one you do love.This is a matter of risk
taking because if you are really that eager to have your own house or apartment then it does really need up some ample time to make out that consideration and the best thing to mind off
is that you should really obliged yourself on paying it up no matter what because it would be a long term payment duration which something that you should prepare.

I don't see those as problems, and even if considered such you can easily go over it
- if you apply for a loan you simply write down both you and your girlfriend as partners, and you split the future property 50/50 or 25/75 how you want via a simple contract, every bank here accepts mortgages from two individuals that are not married but are copayers
- the same problem with rent, I can rent a flat in the city center but it will cost me 3 times more, the same if for the price of the mortgages, there is not much difference between them unless there is something really specific in that area, I find it unbelievable for a situation where apartment that are 3x different in rent have the same value in the overall price.
- there is no guarantee that in 15 you could afford rent either.


The country with the largest percentage of homeownership in the world?
I guess nobody listens to the cons there, your first wage comes with a mandatory mortgage or how do things work there?   :D

In the country where I live in the past, the government used to have a low-cost housing scheme for public servants. They are allocated a 3 or 2-bedroom apartment and they start to pay-off monthly. That is some percentage of their monthly income will be deducted. After a couple of years when they have completed the payment, the deduction stops. Nowadays, things are so tough that even the government cannot afford to do that anymore. When citizens calculate the cost to buy a plot of land, build materials and paying for labour, they resort to renting. Is it a waste of money? Not really if you are saving towards building or buying an apartment.

I don't understand why rent is a waste of money.  If you do not own a private home, you pay the accommodation price on a monthly basis, at least until you own a home. The rent is also for those who are used to move to work from a city to another is freedom of movement.
The matter cannot be discussed without taking into account that today buying an apartment in any country has become a difficult mission. If you do not inherit it, you are lucky to have a home.
Renting and owning each have their advantages and disadvantages, the choice is always the result of circumstances.

Renting versus Buying is an age old "debate" but which you should do lies somewhere in between the two.  Sometimes renting makes more sense and sometimes buying makes more sense.  It just entirely depends on where you live, as in what country and what city.  There's some good articles out there online that talk about what to look for when you're deciding on renting versus buying.  Here's a pretty good article that shows some key reasons why renting might be the best bet for some- https://www.investopedia.com/financial-edge/1112/reasons-renting-is-better-than-buying.aspx

We have something similar to that in Croatia going on for years, and unfortunately all that achieved is that real estate prices went up so in the end the only ones who benefited from it were people selling apartments/houses while government keeps losing money. All the experts warned them not to meddle into market as they will just pump the price, and of course they didn't listen as they saw it as another way to buy votes with someone else's (ours) money.

Buying your own place is certainly a risk and it depends on the number of factors like what kind of job you have/how easy is to find another one, where do you live etc. For me personally it is worth a risk and basically all people I know are choosing that option rather than giving someone else your money for 30 years and not owning it in the end. I don't know how big are pensions in Greece, but in Croatia 95% of pensioners are not able to afford the rent so that's another reason to get your own place while you can.

Not all would really be to those who rented ending up on having their own house because there are people who pays rent for their entire life.Why? because they dont have the chance on building one

its because their earning isnt really that sufficient enough for them to step aside some amounts for them to save up or simply their income isnt really that enough.This is why its really that situational

if we do speak about this matter on which not all people does have the power or ability to save up and does have opportunity to take up some loan or been approved with those
housing or whatsoever correlated to this.

It is because of how expensive the rent is when compared to loans. This assumption is unfortunately flawed because not all of us can get a loan. You need a high paying, stable job to get a decent loan.
That said, most of us have families and I know a number of people who received help from their families when they got married and could afford their first apartment.

This is a problem with no real solution. If you earn 2k a month and and your rent is 500 you'll never be able to afford your own place, unless you inherit it or get a better job.
I was fortunate enough to have my own place in my 20s, but I paid for it in a different way because my parents split up and didn't know how to split it so they left it to me.

I think there are variables factoring into the viability of home property rental markets.

We know that the value of real estate exhibits consistent growth on a historical timeline. How this contrasts with wage growth determines viability of rentals. Population growth factors in as a factor of demand growth. Real estate construction represents supply. In terms of supply versus demand, population growth is rising at a faster rate than development and construction of living space, resulting in scarcity.

Rental markets were more viable in past decades when the proportion of wages to rental costs were better proportioned. Population growth was also in better proportion to home construction for living space to not be so much of a scarce and overpriced commodity.

In some respects, housing and real estate markets are becoming deflationary in nature. In terms of supply (home development and construction) not maintaining pace with demand.

It probably depends on how strong the rental market is wherever you're buying or renting. If you can get somewhere good to buy, you might be able to buy it and rent it out and afford your own apartment too (or live in part of the property and rent out the other part).

There's another factor of how much it costs to buy and rent wherever you are. If it €400 to rent or €500 to mortgage, it'll be less worth it than if it was €300 mortgage. If you break up, there's different types of mortgage contracts you can sign depending on how things should be split (ie if it's equal or proportional to the investment each of you has made). You'll have to pay high legal fees though often if you don't agree with a solicitor on how much each of you should be paid (and even then the solicitor will probably take a big cut too).

A good question.

Renting only works if it lets you save on the side to have enough to buy a house.

A single couple like you ( the op ) Should be able to save side money as you split the rent.

Buying a house can yield big money. I paid 147k in 1992 my home is worth 660k now.

Kind of beats inflation But we are talking a 30.5 year time frame.

BTW a 1992 dollar is worth 1.00/2.12

or it grew 2.12 x 1

my 147k house should have become 311k

So I beat inflation pretty well.

At least on paper.

add in property tax 30 x 5k = 150k
heat is more say 360 x 100 = 36k
improvements say 100k      = 100k
total 286k

286k + 311k = 597k. and my house is worth about 660k

so I am around 63k ahead. over a 30 year time frame.

what other gains did I have. I live in a low crime neighborhood.

town of 70k in 30 years only 5 murders

So 1 every 6 years.

I lived in New York City about 700 murders a year on average

fast math is

murder rate in small town 419,991 to 1

murder rate in NYC is  11,428 to 1


So I feel my purchase is worth it. Safety alone helps the move being worth it.

People take loan for houses, live rest of their lives paying for it. Renting is wiser choice imo. But, if you have means do get a house — you'll have roof to sleep under.

Some of the expert suggest loan a house instead of paying rent so at the end of mortgage period you will be left with an asset but it will not work every where especially you mentioned rent is cheap comparing to mortgage amount so here is what you should do.

Let's assume the house you want to buy has mortgage of 600 dollars per month but the rent for same house is 400 so here is what you should do, just choose rent and think you have to pay mortgage every month which means you have 200 dollars extra and you have to keep investing the amount every month into something with decent returns and low risk as long as you can, so at the end of 10 years you may not own a house but the investment you made all those years along with the compounding effect you will have much more money than the worth of that house.

Many people pay the home off you would be surprised.

I have a lot of access to real estate data. In my town ½ the homes are paid off.

Calculate how much you'll be paying on a monthly basis and compare it to your rent; if they are close, then taking a loan is good, but remember that if you lose your source of income, you should immediately find another job. I don't know in what country you are living, but are there any government projects that are rent-to-own? or like they have housing? Try to find such a program on it, though I'm sure it was located in the city, but my best advice is that as long as both you and your girlfriend aren't planning on having a family, achieve your dreams first and get that house, because if you have a family and a child, you'll have difficulty getting it and paying a loan. 

Renting can definitely feel like a waste of money, as you're not building any long-term equity and you're at the mercy of landlords and rental market fluctuations. However, it does offer the flexibility to choose where you want to live in terms of location, city, and even country.

Buying a house can be a great investment, but it's important to consider the lifestyle and privileges that come with it. One option could be to buy a house and rent it out, using the income to pay for your own rent. However, this still requires a significant amount of money upfront and ongoing maintenance and management.

Personally, I prefer to invest my money in other areas and focus on building wealth through those investments. I'm pretty sure that the investment will earn me more money than a house. I was fortunate enough to inherit a house from my parents, and I'm also planning to buy a summerhouse but that's me.

I know I wrote a bit confusing  ;D but in the end, it's up to you and your lifestyle. It's important to consider what works best for you and your individual circumstances.

If you're the type of guy who could stay in one place, having your own crib is better. Or if you've already reached that stage in life where you want to settle down with your girlfriend, then owning a place is also better. Not to mention that if you do the math, buying is indeed better than renting. I guess those are my bases.

I remembered reading a book about finance or wealth. It says that one way to develop your wealth is to own a house. I couldn't agree more.

To somebody who wants to change environment every now and then, though, owning a place might not be his/her cup of tea. That's probably me. Owning a house is not worth it if you're away for weeks or a month every now and then, or if your work requires you to travel and stay in different places for longer periods of time.

Renting is not bad because someone need a place to live and before you think or do anything, this is important but what is bad is to rent an apartment that is beyond your earning income, that is what is bad. If you rent an apartment that you can still eat and make your other expenses balance then you have rented according to the seize of your income but if after you have rented the apartment then you allow other aspect of your financial live to suffer, you have not done a good calculation of your rent expenses. Usually you are suppose to have @least 10% of your income out for rent and not 20% or 30%.

Renting isn't wasting money!

First you need to calculate how much the house price in your country and how much the price to rent a house. You also need to consider the inflation on your country, renovation,  and calculate the average increasing price of your house and land every year. If the difference amount between the price house and the rent amount/bought it through loan isn't really too far, it's really worth to buy the house through loan or rent the house.

As long as you rent a property or stuff which you really need and useful for your daily life, there's no such wasting money even the price is really high.

The question is probably the opposite: is home ownership a waste of money?

Unless you know for a fact that you are going to live on the same spot for the rest of your life, then what's the deal? if you just want to invest in real state, you an invest via REIT index funds. By having to manage homes you lose your time and time is money, not to mention unpredictable costs of maintaining said homes. Sure people will always need homes and im not saying real state isn't a good investment, but I like other alternatives and the freedom that renting gives you in terms of easily moving and changing tax residence if needed without leaving anything behind that may tie you to the previous one.

I'd like to suggest that at least you're fortunate enough to have a partner that you seem to care about, and renting is definitely a lot easier when you're sharing the bills with one or more roommates.  And I wouldn't feel bad about not owning a house outright--I've been renting all my life and although I generally hate dealing with landlords and leases, when you own a house:

1. You're stuck there, pretty much.  A house is a commitment to living in it for years (usually).
2. Got snow to shovel?  Get your boots on, 'cause nobody's doing it for you.  Same goes for repairs and whatever else that can go wrong with a building.
3. Your heating bill is probably going to be a LOT higher just due to the size difference between a home and an apartment.
4. You pay all sorts of expenses related to your home, ranging from taxes to God knows what else.  Plus the value of it can rise or fall dramatically.  Maybe not like bitcoin, but a house is still an asset with a very big market.

Those are just some of the drawbacks of owning property, and I was never willing to deal with any of them.  But a lot of people do, because there are some real positives about being king of your land, so to speak.

It depends on your location. There are places where you got no choice but the rent because a house is like $2Million. Then there are other places where a house is $300K and your mortgage would be cheaper than rent. So as long as you live there long enough you would be better off buying.

However this is very dependent on area because in some places like in Canada you got doctors who got no choice but to rent because it’s just so expensive buying a home. We got the worst real estate here in Canada. Hopefully something changes soon with these rate hikes.

The actual waste depends on the specifications of the apartment you are renting and comparing it to your income. So don't be too idealistic, at least you have to get a place to live with proper equipment according to daily needs.
Also, mortgages can be considered by following the traditions of generations of ancestors. It's not always a bad choice either, especially when you have children.

Well, there are a lot of factors to take into consideration .. if you want to debate this.

1. Maintenance cost - When you own a house, you are liable for the maintenance cost, which will eat into your future profits. When you rent a house, your landlord has to pay for the maintenance of the property.

2. Taxes & fees - In my country, if you own property... you have to pay property taxes ...and this goes up every year. You also have to subtract the fees that you have to pay for refuse removal and water and electricity and/or levies. The person renting the property, just pay the rent... and the owner pay those expenses from that rent.

3. Registration & Sales commission - A owner have to pay registration cost for the new property and also sales commission when he or she sells it. (This can be expensive in many countries... and it is based on the size and value of the property) The person renting ..do not have those expenses.

3. Interest on the Bond - You pay almost double or triple the mortgage amount in interest over the duration of the Bond being paid... so you as the owner ...have to hope that the property prices has increased more than that..to be able to profit from that.  ::)

Yes I share the same outlook as NF

Taking a loan/mortgage on a house is a massive commitment and probably the biggest
financial decision the average person will make in their lives. While it has a clear advantage
it's also a massive weight on your shoulders to repay that  back every month for over 20 years.

I have a mortgage and have been paying it back for over 15 years and still another 12 to go.

My insights into own a marriage are:
It's a struggle, a big struggle.
I am tied to this place, for the last 15 years I have not been in a position to move because
of negative equity.

Renting gives you a bigger degree of flexibility to move elsewhere, a different country
even.

The way I see it is many people as is their nature overextend their purchasing
of a house to get a loan/mortgage. So many people want simply what they cannot
afford in the long term (I'm also speaking from personal experience!)

The biggest benefit to taking a loan/mortgage is to be able to pass on the house
to sons and daughters.

Let’s say
Rent car is better or buy car is better? If you rent car you won’t own the car after you had paid x amount.
If I have a choice between paying for a wife and paying for a surrogate for it, I did choose the latter which is cheaper yet I would still get the same result I want, yes... if you get what I mean, you want your own kids but you don’t want to pay full price and own a wife also come with baggage, food for thought

Just try to increase your income and get a mortgage. Renting is a waste or money. I've always thought that renting a place to live is a short term solution and nobody should live in a rented house/apartment for years.
I know that the interest rates are going up and mortgages might become more expensive, but you will have your own house/apartment after 20-30 years. Real estate prices will most likely keep going up forever, which means that your own house/apartment will have good value after 20-30 years.
Try to avoid living in a big city. The houses/apartments are overpriced AF. Find a suburban town or small city with good infrastructure near a big city.

Actually more and more look for the cons too, plus usually the first wage, by far is not big enough for the bank's liking.
The bank looks for stable job, hence at least 6 months there... the reality is not exactly like the newspapers depict it  ;)

The fact that there are so many homeowners here is (also) caused by the fact that soon after the old regime was abolished, the people was able to buy the flats they were living in, and the prices were extremely low. Else the percentage would look awful, actually.

On the other hand, the prices for the properties are more likely to grow here than in more developed countries, hence it's a better business here to buy.

I am sure that OP can see how my pluses and minuses apply (or not) in his country; I don't feel I was that much biased.

---

Well, you can - at least in theory - buy Bitcoin and, at the time the kids are big enough, those Bitcoins may (with some luck) cover the price for a decent house for each and every one of them.
But yes, you do have a valid point; paying a loan for the house is - at least in theory - less risky than bitcoin.

I can relate to your apprehension about securing a mortgage in order to buy a property. It's a significant commitment that calls for much preparation. To be sure, renting is an option, but I believe it's important to weigh the pros of buying a home. As an example, you may rest easy knowing that you won't have to stress out about relocating anytime soon. Also, you're right that after 15-20 years of debt repayment, you'll own your very own home outright. Remember that you can count on having support from those around you while you go through this. If you need assistance navigating the home-buying process, you may turn to a variety of professionals for assistance, including real estate agents and mortgage brokers. These experts can guide you in your search for the ideal house and explain the many credit options available to you.

You brought up a good point; the government does, in fact, provide a new loan scheme that may finance up to 75% of the loan without charging any interest at all. The financial strain of purchasing a home might be reduced by purchasing it with a friend or significant other. It's true that you can't see into the future, but it doesn't mean you shouldn't make preparations. For this reason, it's a good idea to look for real estate in areas with healthy rental markets and proximity to promising employment sectors.

The choice to purchase a home is a significant one, but one that should not be dismissed, particularly in light of the availability of the new financing program. If you want to make a good choice, you need to think things out and have a strategy ready.

I moved out of my old rented house to a smaller duplex and I am loving it, I can't afford the payment anymore and its affecting me too much, I just decided to lower my living standard, at least some people do not have a roof over their head, if I can still afford something lower its better and since that time I have been able to at least safe some money.

Sometimes you really need to lower your standard way of living to grow, you may not like it but that's fine, the bad thing about this decision is if your spouse doesn't understand, but mine does. Switching from a 600$ rented house to a 300$ rented house is not bad.

You have to be wise in that case so you don't waste it besides adjusting it with income,
the most important thing is worth it and I think it's more than enough,
but it all depends on the decision of each.

Tbh, owning a house is conventionally not a good investment for a long time ago. But there is one exception, the 2008 was the time house price and loan rate is getting so depressed it’s stupidly "very profitable" to buy house to get rich, it’s unheard of in the entire history of humanity, because many people has to agree a lot of homeowner who survive the 2008 crisis basically achieve financial freedom and officially retired from the rat race permanently! All of them has GMI(going made it in life) after the crashes, while renter and stock investor loss everything, it’s all the very America thing that screw up everything. But this miracle come only every 1000 years I believe, can you expect another miracle of house crisis in the next few years? Nobody know. But with interest rate picking up and every item price soaring, we are witnessing against the pre-2008 market condition again, the mystery of 2008 is still a confusing puzzle even to this day.

Better to buy or rent a house. There must have been a point in our lives where this dilemma arose, buying vs. renting a house. Of course, buying a house is more profitable, because the house is a social sign. If you're still young, it's normal, buying or renting a house is indeed a big decision. Especially if in the end, you decide to repay the house. Of course, everyone has their own perspective. But it all depends on each decision that you think is good.

I myself am still young and I made the wrong decision to buy a house at a young age, when I was still busy pursuing a career. The existence of a house becomes a 'chain tie' that makes us reluctant to move to another city that promises better career opportunities. In the end, I stayed where I was, making my career slow to develop.

Btw it is unhearded of even today for something like cars to get a massive price cut the like the one on 2008 house price crash and loan rate crashes. You won’t be possible to buy a car at a super discount price also super discount loan rate because the car cartel would never allow their cars to be sold at heavy loss and bank never allow auto loan to be low interest rate even in 2008, in new unused condition. So it’s very reasonable either owning car or renting car is too a waste of money. Can it be said with paying a wife or paying a surrogate? Both come with very price and endless legal price to pay, it’s either you pay the lawyers or you pay for child support both of them won’t come cheap.

I think this is because you and your partner are still in the dating stage so your concern becomes, what if in the end you don't get married and live a household life and what if you and your partner buy a house but in the end, you will never be together?

If you love each other and want to take care of each other, you should decide to marry her because then, the vision and mission of the two of you can become one, namely wanting to have a happy family. And it can be a way for both of you to think about how and what you will do when you have kids. And if you want to buy a house, you and your partner, now your wife, will think that children are your goal to have a house, even though the house is expensive.

Until you become a husband and wife with a girl, you should not burden yourself with loans and worry about it, live in rented housing and enjoy life. After the wedding, you will have common goals, my wife and I did not take a loan and only after 7 years were able to buy our own home. We went to this for a long time, I quit my job, we opened our own business, then another one and this allowed us to buy a house. Everything can change in life, you never know what will happen in the future, but you can plan now to have an idea of what you want to achieve.

State loan programs for young families are also very good programs, it is always worth taking advantage of the opportunities that are currently available.

Buying a house with installments for 15-25 years is sometimes a lot of choice for young couples who have steady jobs and salaries. But of course it has a fairly high risk. because we don't know if we'll still have a steady job and salary for 15-25 years to keep paying our mortgage. because if we fail to repay the house bill, of course we can lose the house. so that some other people choose to rent a house with a fairly cheap rental rate. so they can save money to build their own dream home. For me both are still the same. depending on our financial condition. However, home installments are relatively more expensive than building your own home.

Your dilemma is to rent an apartment and end with nothing in 15-20 years or buy your own house and pay loan for 15-20 years? Why not buy an apartment and pay loan for 15-20 years ? If you think that after purchasing house your expenses will stop then I am afraid I've got bad news for you. If you buy a house, you will always invest money in it. ALWAYS. You will pay loan and those "€300 and €400" youve spend on things for house. Tools, lawn mover, stuff for grill, garden furniture and x2 of all this for winter. It will be an unstoppable process money investing to keep house and area functional. Believe me dude. Add a big car to the list of expenses. Coz in cozy VW polo wont fit anything?

Saving will take more time and will be more difficult if your income is low. It is more expensive if you take a loan as you are paying interest on it, and also the risk is that if you can't pay it then all of your payment will be gone, unlike saving and then building your home, though we don't have a choice. As for myself, if I were in his situation, I would have difficulty building a home as my income is just low. Right now I am paying my loan for land that we purchased, and my dilemma is that if I lost my job, what would happen to my land?

What you are experiencing is exactly the same as my condition so far. In fact I often think about taking a house with a deposit of 15 to 20 years. Given the decision is still gray, of course not an easy thing. There will be many considerations, i.e. unstable financial income makes me doubt whether I can really pay off my savings. but if not, maybe I'm just spending money renting from one house to another without owning one.

In my hometown, I have a piece of land, but it is not an ideal place to live because the road access does not support transportation. Selling it is also not a solution because that's the only legacy left. So like it or not I still live in a rented house while considering many things in the future that I should take a house in that complex.

Yes, this is a very big and well-known dilemma.  It is very difficult to make a choice in such a situation.  I knew one girl - she solved this problem in the following way ...

She took out a mortgage on an inexpensive apartment - a studio on the outskirts of the city.  She also rented very inexpensive housing in the city center (a separate room without a bath or toilet). 

At the same time, she worked as a programmer in a foreign company and received high wages.  She paid off her mortgage ahead of schedule and now she has her own (small area) housing.

It's really a dilemma if you doubt your partner that you won't be together forever, even though if your commitment with your partner can be formed and find a way out together to buy a decent house, you can save money if your partner also works and helps each other to buy a house for both of you , I think you should not prioritize the ideal of a house especially by renting, maybe you can choose a normal rental house that only meets your work needs, so that there is money left over from your monthly income to save or invest as funds to buy a house in future.

It's better to have your own house than renting because it's convenient and you can do everything you can with your own house plus you can save more money than to spend it on the rent. But if you can't afford to buy a house you can just rent but you need to have a stable job in order to have a roof and a room to sleep. Most people would take a loan just to own a house although it's long time commitment but if you are willing to stay in that place then you should choose than than to change places every now and then which could cost some hefty cash plus not having a place you can call your own.

You and your partner should talk about it and what are your plans that both of you should agreed.

It is really subjective on your goal. If you're just a typical job hopper then obviously that renting is the best option and you can just keep moving on without the worry of thinking about the maintenance of the house that you're renting since you don't own it.

Whilst for loaning and buying your own home, you have expenses that are inevitable but you've got a piece of mind that you won't be evicted next month.

But in today's world of uncertainty, it's still the best to have a piece of mind and have your own home and you're free to do whatever you want and renovate while the tendency of using it in the future as a rental property.

There are many other reasons on-which you may entitled to occupy a premises on rental hence blaming your ancestors alone sounds inappropriate in my view. I am in a rental house even I own a house due to my job reason. In my country, people who are into certain kind of government job, get frequent relocation which lead them get into rental houses as buying a house for every 3 to 5 years is not possible per their income.

If you are good in planning then you should plan for buying a house for your own use or for renting out. I have seen many people in my country living life long in rental houses because of their limited income. So, living in rental house without proper budget plans might lead you never own a house.

Well, I believe renting is not totally a bad idea as long as you can afford it.
However,  I wouldn't subscribe to the idea of taking a loan to foot your rent bills, no matter the percentage of the loan, because he who goes borrowing, goes sorrowing.

I believe you should make long term plans or start saving to get your own house, because there is this internal peace that comes with it.

Life is in stages and phases... It's okay to rent a house while planning to build but the problem is many rent houses that are beyond thier income just to enjoy some sort of luxury or comfort.... It's rather okay to live in a simple apartment that don't cost much while building your home gradually

Your problem is clear and many people in the world are also trying to solve the dilemma of renting or buying a home on credit.

There are always risks. They may be more in some cases and less in others. How lucky you are will depend on the occasion.

The idea that by buying on credit you spend but buy your own home sounds better than paying rent and getting nothing. But wait, is that really true? In the case of a lease, you are not tied to one place (not only to housing, but also to work), you can move at any time and change your occupation, hell, even change your girlfriend. :) You see, not everything is so simple and the choice will have to be made based on personal requests.

In the case of buying on credit, it would not be superfluous to try to anticipate the future prospects of your property. For example, buying in an area that is currently cheap and unattractive, but over time will be well maintained and become much more expensive. That is, your purchase will be an investment that allows you to compensate for the high interest rates of the loan due to the increase in the price of an apartment or house.

That's part of everyone's thinking to be honest. This is very very practical that it's better to own the property rather than paying the rent. Instead of paying rent you can always pay your "EMI" at good rates. If your banks / government has the schemes of acquiring house loans then take it, take the advantage of tax benefits.

Whenever you avail a tax you get credit input against your income thus reducing your Tax Slab with fairly big amount. Not only that, you can also have your permanent postal address based on which you can top up loans for in house furniture, architect and much more.

There are definitely more benefits than cons here. Those who understand this one, will always at any cost go for the loan and having their own house and even commercial spaces!

To explain my personal opinion, I am one of those people who think that paying house rent is a waste of money. Although it is directly related to house prices and house rents in your region, it is very important to get a house loan offer for long-term and make a direct comparison with the rent. For example, if you are thinking of living in a country other than your own for the short term, it would be reasonable to rent a house.

On the other hand, although the option of paying in installments as if you were paying rent by buying a house with mortgage seems logical, you need to have a small amount of savings for this. In other words, since it is not possible to buy a house with credit without any savings, when you consider all the factors, you will have no choice but to rent a house.

Briefly, although this situation varies according to the point of view, it is very important for the person to give a clear answer to this question by checking their own financial situation and long-term plans to take the necessary action.

It would not be wrong for someone who has the ability to buy a house in his youth because building materials or materials to build a house are not always cheap to get so it is feared that in old age, someone will not have enough ability to build a house as a place for him to live. take shelter. So buy a house while you still have the ability to buy it, but if you can't afford to buy it in full, obviously renting it is the last option for someone.

Career also cannot be used as an excuse for delaying building a house or buying a finished one, because while in a career, you also need a place to rest and shelter because those are things you really need after working all day. So basically the house is one of the most important things for you to think about now.

Having a house is like another investment, but it is heck of a worth of an investment in the end. I had rented before in the short term and it is almost like throwing away money just to survive and have a roof temporarily. I would just rent if my workplace was like really far from my home, but if transportation could handle it anyway, I would prioritize that first.

Me and my partner have a plan of having house first before being together. Not sure why living with parents is looked down in other countries, while in here, it is technically fine.

It can be avoided of course. There are many ways if you don't want to rent on your own. You can first stay in your parents house or friends house and then save up to built your own house. It doesn't need to be huge or gorgeous at first but only enough for a person to sleep peacefully and have a shelter when the weather isn't good outside. Renting is not a waste of money as long as you don't have your own house.

Why will it be a waste when we are living on our rented house? Unless only if that house isn't good enough, I mean if there are a limited water supply and the roof are also faulty where the rain drops enter when it's raining but you can always look for another one.

In some instances, renting could be preferred option to manage funds. Ask the craftsmen who have to rent tools and equipment for work on site. Also, renting a house in some area either for convenience of just storage purpose could be economically rewarding if the plan in the long run is to change.
Investment that yields profits can fund buying or owning property, that one would have previously rented to save cost.

Owning a house is everyone's dream and actually no one wants to rent a house even though the offer is cheap if he already has a comfortable place to live, OP should already have a house from the accumulation of rental fees for 6 years but that doesn't mean he has wasted money on necessities a place to live but because he doesn't have enough savings to buy a house for the down payment. Before he decides to apply for a loan, he must ensure that he has a stable monthly income for living expenses and sufficient expenses to cover the loan.

Everyone has different reasons why they don't choose to live with their parents, the reason might be that he already has a partner and is more comfortable choosing to live in a different location. But if the financial situation worsens, the main option is to live with your parents instead of staying at a friend's house.

The right move always depends on your specific circumstances, for many people to rent makes sense as they travel a lot, they change their jobs frequently or their job security is low, however if this does not hold true for you and you are ready for the commitment of buying a house then without a doubt renting may seem like a waste of money, since you are literally helping someone else to pay their house instead of paying for your own.

You've given a picture of one scenario, but there are so many different variations it is impossible to give a definitive answer to such a question. You mention the level of rent, but you don't mention the salary you're on. There is a suggestion that housing costs should be around a 3rd of your income maximum, but if you're making 3,000 euros a month (a random example) then you'd be way ahead on such a low rent. You could put that money into other investments, to make your money grow, or simply save for a deposit to eventually buy your own house. Renting is not always a waste, it can give you a freedom to move around which can be especially useful when you're younger and allow flexibility in following jobs.

Yeah, having a loan just because you need it and have nothing to guarantee that you will be able to pay back is going to bite one in the ass. Imagine having that piece of land that is truly yours and you will have no landlords nagging you every day about your rent.

Staying at a friend's house is quite a little bit of a different story depending on the family situations sometimes. There would be those that do not want to burden their parents further, so they would choose to be at their friend's house instead.

Yeah, I looked a bit at the statistics and the whole thing becomes less and less rosy


So ownership but overcrowded and small apartments, having almost 1 less room for each person compared to Spain does look really bad, but it the end it all comes down to money probably not to taste and life planning.


You see that's the problem with scenarios, when you set them so that the result points to what you want to achieve, one might ask himself, is the scenario actually true? What if the rent is 550 and the mortgage 600? What if your investment fails completely? And more importantly, what if the price of the house goes up?
In 2010 the price of an sqm in London was 4500, not it's above 7000!

So even with your scenario, you would have to turn every single of those $200 into $900 in order to keep up just with the housing price!
Do you think is doable for everyone?


Simple solution, rent it while you're away!
You move to a different city, rent the house and with the rent, you pay the current one, it's pretty simple!

Renting is a waste of money. I pay rent annually I know this for a fact. Your rent can never decrease rather the landlord will always inform you of an upward review of the rent.
And if you cannot pay (http://www.oreilly.com/library/view/your-money-the/9780596809430/ch01.html) of have a problem with it you are served with a quit notice. Every year you pay higher for rent.
If you have you own house, it will cost a lot of money to build or buy one, but once you do, you have peace of mind for the rest of your life.
I have concluded and agreed with the OP that renting is an inevitable waste of money.

Relating to the OP's statement, he really needs a long term loan for a solution to owning a house instead of having to pay monthly rent, technically he's just switching from rent to loan but he already owns his own house, but it's important to note that the loan repayments are worth the cost monthly rent then there is no reason he can't pay off the loan because he can pay off the house rent for 6 years.

Op had said 75% of the loan would be government funded interest free and the rest would be handled by private banks for low interest so it was logical to apply for a loan. but I don't know the specific economic conditions of the OP and but if you don't have a stable income it's better not to apply for a loan.

Not everyone are fortunate enough to have some left behind properties to inherit and make for themselves an easy life from it. Some might not even get to have it in a location that makes the property have a high value. Therefore, many have got to struggle for everything, to build their fortune from the bare floor.

Hence, with renting as a necessity to your survival and an easy life, I won't really term it a necessary waste. You are getting the value for your rent at least and that's of the most importance or that's what the money spent on renting is meant for. One otway or the other, your bound to spendsome of your earned funds on something and a house is definitely worth it. Shelter is a need and until you've got enough to build yours, you've got to do what you must to have a roof over your head.

This is where I becomes of the most importance. If you've got the leverage to set aside something for later. If your salary or wages and rent isn't giving you that leverage to set some funds aside for later, then you might just be biting more than you can chew.

Well, the thing is that everyone would wish to outrightly have their own house, or maybe even houses and still be able to comfortably cover every other expense they have, but i'm afraid only the rich can actually afford that luxury. I feel between rent and purchase depends on the individual, their income and their area of residence, if you have a steady/stable source of income, then you could buy a house through paying the mortgage on it in installments, it is going to take quite a long time to pay up, but you eventually will if you manage to keep that steady source of income coming.

Having said that, i don't think there is anything wrong in renting a house, if you get a suitable location whilst considering proximity to your workplace, then you can go on and continue paying rent. I basically believe that before one should consider taking a loan to buy a house, or paying a mortgage on a house, they must have drawn out a long term plan as well as analysed their long term income and mobility, but rent on the other hand somewhat affords flexibility and ease of relocation.

But you cant really make yourself staying into your own friends house for too long or even on years.Arent you that having the feeling on being shy on making yourself lived into someones house?
No matter how close you are with your bestfriend but you are living on a place that you wont really be that comfortable because you would really be keen in towards your actions because you do know
that it isnt your house.

This is why i cant really blame out other people on thriving their best on getting their own unit or houses even if its that risky to take up some loan.
Just be sure that you would be able to pay up those monthly amort for long years.

Well, in this case, everybody has a different condition and reason for renting.
I live with my family (4 people including me), still renting a house with two bedrooms and other main rooms, which costs only $670 per year. This is the average price in my area here and the house is really enough for us, much better with the environment here that is very suitable for me, my kids and also activities. With that cost, I am sure that many people around me will also talk about "why not buy or build a house? Why don't live with your parents?", This is always heard in my ears. But, this is our decision not to live together with our parents because we have our family with our responsibilities.

Who doesn't want a house? I am sure that most of us want a house or apartment or other names for living permanently, not renting. I am also having a target to buy my own house. But, not everybody is able to do it. So do I? We are still trying our best to save money and collect more money to buy a house someday. This expectation is one of the lists in my targets.

If we are calculating the money, how much money we have spent on renting, this sometimes hurts because we have spent so much money. But, once more, we sometimes have no choice, and renting is still the best way to do it for now. Why not? As long as we can still pay for it and try for our best life.

We have to rely on someone or leverage on things for a particular time in other for us to make some achievement while we set out goals and targets in place, this will be part of the procedures in life that will be required of us to take and trod  through in becoming whom we are meant to be, you pay for what you rented unlike when you lend them, it's never a waste of money but rather a way to conserve money when the time comes for you to acquire yours after you must have gained experience.

Ive known some rich people who doesnt have an own house but they are living on condominiums which i could say that they do really love on living a life where they cant be able to put themselves on a hassle.

I have realized for myself that if i were that rich then building your own house would be ideal but there are ones who do much prefer the accessibility on various venues and relevant places for you to deal
and live with on everyday.

There are really that differences for those people who dont have much money which leaves out on the option on having that renting for so long.Somehow its impossible that you wont
really be having in mind that on having your own and this is why we do go into certain options.

This confirms my idea that paying the rent debt is a life necessity imposed by certain circumstances. This is one of the basic expenses that everyone spends in their daily life. You know in advance what you need to pay monthly as a rental value, and therefore set a budget and divide your monthly income accordingly, which helps you save money and enjoy your life. Perhaps I am one of the few who believe that rent is a good thing and makes people's lives easier. It certainly has flaws, but it's not that bad compared to its advantages.

Owners of people will not be comfortable with our presence at home to stay for a long time, unless you are traveling and staying temporarily at your best friend's house for less than a week. I'd rather live in a rented house than live in a friend's house.

Someone takes a loan if the conditions are needed to buy or build their own house, he also has an income that can afford to pay the rent for the previous house, so it's okay to apply for a loan for low interest.

Renting serve its purpose, it smore flexible than owning a house on a specific area and yes, this is our way to conserve money and use other resources to slowly achieve your goals. We've been renting for years now, and I can say that its not easy to achieve your own property but I know in time, we can make it and that can be a sweet achievement for us. Be wise with your rentals, if its located in a good area where you can earn more much better.

Well, I couldn't disagree with you on that since living with parents can save you enough money to buy your own before leaving with your parents house. I can't tell exactly what are the reasons about that but I guess it's just the way how they were being raised or maybe it's hard to have your own house on the other countries that's why most of them just rented a house or maybe it's just too far away from the city that's why most of them risk to rent even though they were just working to live and not to earn.

Perhaps, I would take the advice on the top of this post and consider downgrading their standard of living and by this way they can earn plenty of money that would be enough to buy their own house.

It can't be that simple. When you've got most of your stuff in your house, you just can't rent it to somebody else. Not only are your furniture and appliances the only things left, you also have your precious collections and paintings, books, PC, bicycle, and so on. You can't guarantee everything will still be in perfect shape when you come back.

My brother has a house of his own. He sometimes thought of moving to another place for a while, but he can't entertain the option of having his house rented for the same reason.

I assume this is a housing loan right? Then you can take a loan under your name so you have the full right even both of you don't end up together.

That's important. Don't settle in place that is far from where you're working (or less work can be found). It's not wise to find a home faraway from work then it will cost you huge budget for transportation not to mention the time spent for travelling.

This is understandable but if you opted to keep on renting instead of getting your own you'll not gain anything in the future yet you spend much money. That's why you need to have plan and get a loan based on your capability to pay. In this situation stable income is really necessary.

For some people who reside in a rural area but choose to work in a metropolis, renting is not a waste of money. Renting is advantageous for single people since they can rent a single bedroom for a reasonable monthly fee. In contrast, it can be difficult for a family man to set aside enough money from his salary to cover both his rent and other monthly expenses.

Many people rent money and only use it for pleasure such as consumption, hobbies and so on, if we are used to doing this then it is appropriate for us to stop it immediately, it is better to rent money for productive things such as investment, many investment choices and in my opinion what is becoming a trend the best right now is bitcoin or altcoins.

This depends on how our conditions are when renting something, be it a house or something else. Because in some cases renting a house is the best choice when we go somewhere, for the purpose of working, studying or something else. It depends on our needs in my opinion.
I am also one of those people who often rents a house, yes I remember the last time I rented a house when I worked somewhere far from where I live. So I calculated how much I spent on transportation to get to work and how much I spent on renting a house, and it turned out to be less than having to go home alone. Time is also a consideration, because when we rest we will be more awake and not travel too long.

Advantage if you are living away from the city as you can have a roof while away from your home but it is more advantageous if you own one. Also, there are more job opportunities in the cities than in rural that is why you need to go but the real problem is how do you own it? Assume you've been renting that apartment for nearly 15 years; since you don't own it, do you continue to pay for it or continue to rent it? Or you plan to buy an apartment on your own as you can save rent and also you can give it to your grandchildren in the future. The problem is that it is very expensive that not everyone can afford it so they don't have a choice just to pay rent.

For me, I've been paying for rent since 2013, I dropped out of school so this made me start travelling and hustling for money early, we are now in 2023 and by April this year, my yearly rent will be due and I will have to pay for another 1 year, this means that I have been paying rent for more than 11 years now, if I put together all the money I've spent on paying rent for this 11 years, it is more than enough to build and own a beautiful home of my own.
So for me personally, if I find where i can take a very low interest rate loan to purchase a house, I tell you that I will do it without hesitation or thinking too much about it, as long as the house one i really like and the location where it is situated is good too, and I am also sure that the house is really worth the price its being sold for.

it's better to buy it, rather than having to rent continuously, because no matter how long you live in that rented apartment, it still won't be yours.

the calculation is simple, if you now start a loan and continue to buy an apartment, you won't worry about the house and the rent. but you have to pay monthly installments for 15 years.

second calculation,
you don't take out a loan, but you pay rent for an apartment for "let's say" fifteen years, after fifteen years you don't get the apartment.
well here's the difference
both require installments,
if you buy an apartment with money from a loan, continue to pay installments every month, for fifteen years, after fifteen years all your debts are paid off to the bank, and as a result your house is still yours.

The second
You rent an apartment for fifteen years, and after fifteen years of renting a house, you still get nothing, because it's rent, and your money used for rent, it doesn't make anything.

but I give this opinion based on smooth economic conditions and no obstacles.

The point is to first measure the financial ability that you have today.

It's so hard to live if we're just renting, just like what you are experiencing right now. As what you've said, you can't guarantee that you can pay for rent for a long time 15 to 20 years because our conditions are not always the same. There is a "what if" in our mind that we have to consider. What if we're still be separate with my gf because we're not yet marriage? So you will be weighted if that happens.

And because I have always think of how hard renting is, I have bought a property to live for. I save so much money and you will not get scared so much if you lose a job.

Life today is increasingly difficult, many needs that continue to rise and unexpected so that it makes what we plan often fails, many unexpected cases such as pandemics that make many businesses and business bankrupt make us always be smart in managing finance Money then the first thing to think about is the ability to pay the debt.

I agree with you, for rural people who have jobs in big cities, renting is an option that will definitely be chosen. They usually rented just for the bed, so it couldn't be called a waste or anything. Because if they repay a house in the city, it's not balanced from what they earn each month, instead of helping, it will even damage the circulation of money in their wallet. Also now in my country jobs are no longer easy to get, and also now many use a contract system. Meanwhile, to make house payments or something like that, it takes years to be able to pay it off, so it's not the main choice.

It is very difficult indeed to live alone with a girlfriend without married status to determine future goals with a family, the burden on the OP is very difficult because supporting a girlfriend and meeting her needs and only relying on a basic salary will certainly make expenses not ideal.
You are a lucky person because you already have a property to live in when the economy is like the current situation, even a little food is not a problem because there are no property bills to pay every month and question whether you can pay at the end of the month or not.

This assumes that you have enough money to buy a house. We need to remember that first of all you need to pay a certain sum to buy a house, even if you get 80% of the house on mortgage, you still have to pay 20% of it all at once, usually a lot more, and you also need to remember that not everyone will be capable of getting a loan. If you do not have a good credit score, banks won't give you a loan, I can't get a big loan for example.

It means that for some people renting is unavoidable, you have to accept the fact that you are going to pay that rent. Obviously it is going to be hard, but if renting is a must, you better find a very very cheap place so you can save money to buy a house eventually.

Yes, it's exactly that simple!

You live in a rented house, you move to a new city you have collectibles and paintings and books you take them with you.
You live in your house, you move to a new city, and you have collectibles and paintings and books you take them with you.
It's exactly the same, there is no difference whatsoever!

The only difference would appear when you have a different lifestyle that would mean you buy more stuff, you have cats and dogs, you have a more personal thing but at that point, isn't it obvious that you're not the guy always on the move that needs to be free all the time? It's like a guy who has been backpacking for 20 years talking about how problematic it would be for him to have a 4 room bedroom all filled with stuff! People that want to make their house comfy and so on, filling it with things and designing it with only their own taste in mind are not the ones that will hope on the first train!

Renting may seem wasteful after all your years of spending. Many can connect to your situation. If you can acquire a low-interest loan, invest in real estate. It's worth weighing the advantages and cons. However, buying a home is a major financial commitment that shouldn't be made hastily. Do your research and choose a venue that meets your needs, moves you, and matches your budget. Make sure the location is one you could live in for a long time. Good luck with your housing search.

If just 50 is the difference then I wouldn't mind getting the loan to be honest but that is not the case all around the world, especially in developing countries so the mortgage amount is at least double or triple the rent amount and also the job security is comparatively less that is why its wise to choose the investment overpaying for an asset for the entire lifetime.

Now real estate is not growing that much as far as I observed and also this work-from-home trend took a decent amount of people from the crowded city to remote places so they avoid rent expenses also have more money to save, maybe  the future can turn either way however the safest chance will not produce the highest returns so one who wants to reach the line before others has to take the investment risk.

Waste of money? I doubt. If you just cannot afford building your own, renting would be the very option. Also, that would open up an opportunity for you to be able to save from your salary 'coz it would cost less in the first place. Problem is with people who are becoming comfortable with renting and eventually regretting what they have spend on the leased premise. Without knowing that they'd consume more or will be needing a bigger capital for a start if ever they would have their own. The bottomline is financial convenience. Since you're more likely won't be able to relese huge amount of money in an instant, renting should be considered for sure.

Allow me to not believe the triple difference not when it comes to developing countries.!
I don't know that much about costs when it comes to developing countries but all the economic reasons for such a price difference are making no sense whatsoever because it would make it simply not profitable for anyone to hold their property and simply just sell it.

Not targeted at you, not to offend anyone in the Philippines but I choose this country since we could get some feedback for it from someone living there so, here we have it, the first google result when hitting "rent or sale"
https://www.dotproperty.com.ph/2-bedroom-condo-for-rent-in-marco-polo-residences-apas-cebu_652487
https://www.dotproperty.com.ph/condo-for-sale-in-marco-polo-residences-apas-cebu_617640

Rent ₱ 65,000 / month  Sale: ₱ 12,000,000  The difference is x184!
And this is far better than the difference here in Europe when it can go to much more the further you go into the western zone and far
The median rent in New York was $2,750 for a single bedroom the price $675,000, x240, see how close those numbers are even if we talk one world apart?

Excuse me for not replying sooner but I had a terrible stomach yesterday and I'm now recovering, I'll try to summarise as much as I can.
I've had such a tough time dealing with landlords in the past that there are times that I'd prefer if I could repair stuff at my own expense rather than deal with them. I've had landlords prohibit pets (a cat in my case), not repair stuff that broke due to old age, or even break inside my house when I'm away. Certainly, both options have benefits and drawbacks, but in my opinion, owning gives you some peace of mind knowing that you can do any modifications as you please without having anyone over your shoulder.
Exactly, we've spent over €25,000 in the past few years that we could have added another €25,000-€35,000 and bought a semi-decent apartment that I could either sell in the future or rent if I no longer want to live in it.
You're right, I forgot to add the average salary here and have only mentioned on a previous reply, the average salary here is about €700-€800, with the minimum being at €620.

I'll summarize because quoting every single post is a little tiring. We've been together for about 4.5 years, and we've lived together for more than 3 of those years. I'm not trying to imply that renting is a complete waste of money; you're paying to have a house to live in, but the end result is zero gains in terms of property gains. In a few more years of renting, I will have spent the equivalent of buying an apartment; thus, in some ways, it looks like a waste of money.

The general rule applies that if you can't afford something, don't buy it, but a loan for an apartment would approximately cost €300–€400 per month, which is about the same cost as the rent I'm paying now, but over a payment period of over 20 years.

Depends on where you live of course, I agree with that. In some nations rents are cheap and houses are expensive, in those nations rents are reasonable, in some nations buying a house is cheaper with mortgage than renting, and it's better to buy there, depends on the house and rent price ratio.

I believe that we should be considering this as a thing for the future, and consider how much of your money would you be tying down in any way or shape possible, it is definitely a hard job to do and would not be possible if you think you could use that money for something else. I know a very rich person who rents, because he says he could use that money to make more money and buying house doesn't sound reasonable.

As a renter for a few years now, I can say that it's better to get a mortgage on a house and just pay that. At the least, that house is going to be yours when the time comes, though you have to work your ass off if you don't want to lose the house that you 'own'. I am considering to just get my own place and stop renting very soon, but I haven't picked up a nice location just yet. Also, the prices of houses and lands are increasing almost every year that you can never go wrong in buying one. Just make sure that you already have a stable career before buying a house, because it is a huge responsibility in paying the mortgage and keeping up with the payments.

I keep renting a house for several years but I have no problem with that, I can still pay for the rent. But of course, to have my own house is the most thing I wanted to happen someday. But I've seen that having a house, for now, is very expensive and it really needs more money and it found hard to get it. Then I think that if I have money I use it to put up a business first instead of buying a house. Might become a stupid decision for others but this is what I see in some businessmen, they prioritize having additional sources of income before building their own house which I think was the best option.

Of course if we rent a rented house as a place to live, of course it will not give us any advantage. Because we have to spend money every year to rent while we don't own the rights to the house.
But if we change the way by taking rent money to do mortgages, it will be more profitable even though the costs are much more expensive. Within 10 to 15 years, we already have full rights to the house.
Maybe the question is, can we afford the installments for the next 15 years? Of course this will make us think before taking a mortgage.
In my opinion, it would be better if we made a delivery order for building materials to build a house, regardless of the amount of money we have, so that within 2 to 3 years we can build our own house.

You have good reasons to think about that. Some successful businessmen are still renting.
Now, it depends on your capability to handle a business. If you think you can, then, pursue such path.
Because some people are investing in real-estate, because they feel secure for their future.
But unfortunately, not all of us can afford the high prices in the market.
But I won't consider renting as waste of money, you can decently sleep with that rent.

Yes, I also have almost the same thought. But exactly as you said at the end. i.e. this can only be done if we have a stable salary from the start to the installment payment.

First, we must measure our own economic condition. how much is our salary every month or how much fixed income can we get every month. whether it will be enough to pay the installments or not. And we also have to prepare a reserve fund if one day, for example, we are sick and don't get income. then the reserve fund can be used to pay the installments at that time.

Buying a house and paying for it in installments is great if we are financially able. But if our salary is small then this cannot be done. we can only rent a house. because the cost of renting a house is relatively cheaper. so we should still be able to pay it even though our salary is still small. But we also have to save when we are still renting a house. so that one day we can make or buy a house from our savings. may take a long time and requires patience.

There are some couple of reasons some people doesn't want to own house rather they want to rent.
It could be because of the kind of work they do that it's not stationed at one place.
Another reason could be because of the expensive nature of owning a house. When you want to own a house in a well-developed area it will be expensive . So if you want to own a house you will likely go to a less-developed area while someone renting could comfortably afford nice house in a well-developed area

Deciding whether to rent or buy a home is a big one that affects not only your lifestyle but also your financial well being. I don't think renting is an inevitable waste of money because many people can't afford to buy their own house, it's too expensive so they rent. Renting can be advantageous in terms of obligation and freedom renting is seen as a financially sound option by many. It is a safe bet that is backed by a real asset and offers the potential for capital appreciation and tax benefits.

Borrowing is a decision that is difficult for anyone to make, borrowing money, of course, must use collateral or pay high interest, especially now that online loans are increasingly massive and make it easy for anyone as long as they meet the requirements, many people make the mistake of using loans for things that are not productive this is a waste.

The answer is of course not black and white. Both, renting and owning come with a lot of pros and cons.

Just a few things to consider, when renting:
- the money you would have to pay to your bank every month (which is usally more than rent) can now be used to invest in other things, such as Bitcoin
- you will be a slave to a bank-contract for 20 - 40 years unless you manage to achive quite some financial wealth in the meantime - which is more difficult now (see my first point)
- owning property comes with a lot of stress and time investment if you rent it out to someone else; in contrast to stock bonds or crypto assets mainting your property takes a lot of extra expenses and effort
- you are more flexible to move from a rented place without much liabilities compared to living in your own home

There are some nice benefits from owning property, too. But these are usually well-known and highlighted without the downsides, so I just gave you my idea on the latter.

I go with this concept,  it is a good idea to me. People thinks paying money for rent is a problem.  I'll rather keep paying rent than to use all the money I have with me to buy a house because me buying a house may affect my business to grow after buying a house. Getting the house and life becomes tough financially will be he'll. Instead of buying a house I will put the money in developing my business to grow then later on ,the profit I have made from my business I can decide to buy house which I know buying a house won't affect , make me go broke because I already have a stable business at hand.

Certainly, the answer is never black and white; both options always have advantages and disadvantages. However, I don't understand how the money I'd use to pay the bank can be invested since that amount of money will be spent on rent. In some cases, the monthly payment may not even exceed the average rent. Moreover, if I spend my whole life paying rent, in a few years I will have paid the equivalent of buying a house myself. Owning a property may come with stress and other issues, but you're comfortable knowing that the house is yours and you can do whatever you please.

It all depends on our financial capability. If we can only afford to rent then so be it, just save and grind hard so you can afford to buy a property in the future. It will be better to take a single step at a time than force things out and make you suffer for a long time such as taking a loan.
In our country, there are rent-to-own properties which I think is a good option for those who are just renting. At least you can live comfortably while renting and you'll have ownership of the property after a few years.

Only few countries have an option for rent to own properties and if it have sometimes it is limited in provincial areas. If we wanted to have a place near our wark offices it will be hard to find a properties like this, will be lucky if we can find one that will allow it and with lower values. I have knew people who stops renting now since work setup is work at home now and they are able to go home now in their provinces. I guess it will depend on how we use the place we rent and if it will gives more comfort to us to rent than to travel back and forth. It is not considered as waste if we were able to save our time and energy into doing things more productive.

In my own opinion, in terms of business calculations, the point is to rent first, the remaining money from income should not be used for repayments, but for investment. Later the results of the investment will be invested again, and doubled again so that there will be more, later the results will be able to pay for house rent again and even buy a house. But it all depends on your income, who knows your abilities, you are yourself.

There are some countries globally that allow you to go for long duration contracts which may go in your favor later if the guy keeps giving you his apartment for rent. This, by the grace of the government of specific countries, is counted as paid EMIs if they manage to live there for at least 12-15 years and you can claim it to be your home later which the government will not only consider but also help you gain authority of the same.


It's not as easy as you've envisioned it here because investments aren't assured and can even make you incur losses, which may turn the tables for you entirely.

You will need to rent at some particular stages of life not because you wanted to but by so doing you leverage on what's been profitable in a bid towards achieving your own, but doing it for a long time is what shouldn't be encouraged because it will get over you completely without giving you that opportunity to get your own and remain independent, we need to undergo some particular stages in life to give us more experience, this is just as if you're paying for getting knowledge about a particular thing which you will no longer pay for after you have achieved your target, so it's not a waste of money of needs be.

I personally think renting is wasting money. I'm also currently renting and planning to buy a cheap house in the suburbs soon because house prices and the cost of renting houses in the city center keep going up and I think it would be better if I had my own house even though it's on the outskirts of town.

This can be different for anyone depending on where they live and what's their job because for example if you are living in a country where you can take a loan and buy an apartment it's much better to pay back the money you got for the loan each month than paying money for rent because if you buy this house after taking a loan you will own the house after some time and you could create an investment for yourself while the money you pay for rent will never come back to your pocket and in some countries, you will even have to pay more rent each year because of the inflation rate of that country.

If you are going to establish long-term relationships, then definitely you are going to have kids. If you aren't already getting paid very high or if you don't have a business, then it will be very tough to afford kids or even one kid and cover mortgage loan at the same time if you and your fiancé are going to afford things alone.
I would say, risk it if you are getting either financial help from your parents and are sure that your and her parents will be able to support themselves a little bit you too for at least 10 years and be sure that your parents will take care of the kids. Otherwise, it will be very tough and depressive.

I will continue to rent until I become financial stable, and I wouldn't advise you to take a loan to purchase a house, you know why, it will destabilize you in the future, buying a house or building a house without been financial okay would not only put you in trouble, you will likely sell them in the future because that house will need maintenance like toilet facilities changes, you may need to change the roof if you live in a hot temperate region, normal use maintenance which may be difficult for you to do if you buy your house on loan, you will be only concerned to pay back the loan and at the end of the day, you will living in old house without any achievement. Think it through before you carry any loan.

Renting is definitely not a waste of money. Just because you own a property doesn't mean you live for free. There are fees and taxes you have to pay if you are owning or if you renting. Then there is the whole topic of modernisation. In my country when you are doing repairs on your house or apartment you are required to meet new requirements for insulation. This makes even smaller projects very expensive. So in case you own an older property or there is an external damage that is uninsured it can be very costly to own. The biggest issue for me is at a younger age that you are fixed in one location. If you get a better job in a different city it might be hard to sell your house and move.

Where I live renting is considered "a bad thing" since for the same money and time period you could get your own place.

But, that's a rare scene in the grand scheme of things, especially in the western world, and there's obviously a tipping point where renting starts making more sense financially, and we're seeing it more and more because of the job uncertainly in the long run.

Yes, the cost of rent is indeed increasing from year to year and it is very important to make the decision to buy a house even though the costs required are also not small,
If you think for the long term, buying a house is definitely the right decision,
but regardless of whatever it is everyone has his own decision.

Taking a loan is as expensive as renting an apartment but it has it's advantage of making you the owner of the house after a period of time lets say 15 -20 years as mentioned in OP when the loan is finally settled. And i was also thinking that there is no point been in a long term relationship when the picture of how the relationship will be in the next 15 - 30 years is not clear. The longer we spend we people the more we know if we really want to be with them or not. Secondly since it is still a relationship with no legal document binding you both taking a loan has nothing to do with your relationship. Except you both are paying for it together

Unfortunately, it's one of the major concerns when you're in a long-term relationship at a relatively young age. A few other users suggested that you could possibly take the loan in your name and practically own the house yourself, but that wouldn't look too good as a couple, to be honest. A few others also suggested what you claimed: taking the loan together under two different names since we're not legally bound, but I don't think that's possible here; you have to be married or engaged to have a joint loan. I could be wrong, but loans are a completely different story between the USA and Europe.

One trick I saw was to rent, lease or even mortgage a house boat.  A barge can be adapted into being living accomodation and depending how open the banks are locally this can be used as proof towards eventually getting a house.   I heard of this idea twenty years ago but also recently, so its an established idea for very small living accommodation that can be cheaper then a flat by quite alot.   Because you are paying debt in a similar way to a large house it helps build a credit history and so on, its actually productive.  Similar renting can be a way to prove regular contribution and budgeting towards regular living that a bank likes to see.

Home is a place where one can rest after the tiredness of the whole day. If sitting at the resting place, the resting place must be marked with payment, if it is more painful or distressing. So,  Ownership flat is very necessary. Other wise, house rent payment is very difficult. Because, Infaltion reason house rent amount high. Otherwise, renting or buying a house with a loan is stressful and there is no guarantee of surviving the loan tenure in the future. Even repaying the high cost of the loan is a difficult matter.

I live on my own on a rental. I can relate to this so much. I make small amount of money and the rent is low too. But at the month's end, I am left with just a little to survive. Renting is not what everyone should do if not extremely necessary. I think somehow getting a house on your own will be the best option even if you have to work overtime.
Trying to save some income to buy a house, but in the end. I'm left with nothing.

Renting is better tan owning a home because you can easily switch up between tax residences if needed, or just move around within the same country. Your neighbors may become annoying and if you own the home you are now stuck, if you want to move you'll have to pay big taxes on the sale. Only if you are sure you want to live on the same place for decades I would bother with buying a home. Also if someone occupies your home you may have problems in certain jurisdiction kicking these people out. Overall just not a good investment. If you are mega rich then maybe it would be cool to own a home here and there but not in most cases, even if you have a couple of million, I would just invest elsewhere.

Renting has its ups and downs, but honestly I'd rather choose to buy my own house than to get stuck living in someone else's for the rest of my life. Renting is outrightly affordable compared to owning a house that's for sure, but it becomes a liability over time while a house flips you profits through appreciation. Although you are given the liberty of leaving and relocating should things not turn up well in your current residence when you rent, you can pretty much do the same thing as well with buying real estate you would live in, just with some extra steps.

Yes, I agree with you.  

When they tell you that you are the owner of the house, then this is a lie.  It is correct to say that you have ownership of the house.  

This right may be limited by the government, this right may be associated with certain property encumbrances.

If the house was bought using maternity capital (a measure of state stimulation of increasing the birth rate of children), then it cannot be sold until the children reach the age of majority.

Also, real estate taxes can be very high.  In addition to real estate tax, there is always a need to pay utility bills.  Tariffs for utilities can grow annually and reach astronomical amounts.

But we know that not all people does have the capacity in doing so and this is why they would be sticking on renting which similar into my situation which i cant built up my own house since building one
is really that expensive or  something that cant really be that to easy on someone who do really just earn sufficient for your daily living and needs.This is why lets not really that conlcusive
for those people who do say that we should have our own house.We are all thinking on having one but there are situations which we are facing that would really be a huge hindrance
on achieving or attaining our goal that we do have in mind.

Renting a house is a bit affordable because they don't really think about other things like taxes and maintenance, but the average person renting their house is working out of town which makes it easy for them to move anytime with a fixed contract duration, however I feel the same way when working at out of town and only pay the rent every month and then don't think about other costs.

But now I have my own house in my hometown and well we have to pay a lot for everything that is needed, taxes every year, expensive maintenance, other rents are my responsibility, so the landlord has to be prepared with all of that but somehow I'm happy be in your own home without having to rent again.

Regarding the comparison of renting or owning your own house, it's really relative, how can we see the advantages and disadvantages.
But I think renting is not a waste if he can manage finances properly.

House rental is generally a complicated and controversial subject. It's usually cheaper than paying a loan, but it also depends on your country of residence. However, as the previous poster already mentioned, I'd rather pay more and deal with everything myself than have to chase my landlord for every single thing that's malfunctioning. I've had my fair share of landlords, and the majority of them were awfully unhelpful with maintenance issues and generally had unpleasant experiences. Despite all the concerns stated by other posters regarding maintenance and taxes, the feeling of owning your own personal space is unbeatable.

renting a place to live I think is a waste of money in our lives. I prefer to borrow for property, as you explained that the government has a program to get houses in an easy way. with us borrowing money, then in the future we can have personal assets. and even though we are not strong enough to repay in the middle of the road, then we can sell it, and have returns, in contrast to when we rent, then we will issue money

Most people borrow money just for fun, they want to fulfill pleasure by buying unproductive things, if we borrow and use it for good and productive things, for example additional business capital, buying assets or something else then borrowing money is a very good thing, and we should be able to measure our ability to pay or not.

If you have stayed in a love relationship with a girl for as long as 4 years what is stopping you from making a family with her by marrying her. 4 years is enough time to strike that deal, except you think she will not make a good wife. And if you think so why not severe that relationship and let her go.



Is the €25,000 monthly or annually? If it is monthly, that is too much. You have to move into a smaller and cheaper apartment and save up to start building your own.

I agree, things that could make us money is the way to borrow money. For example if you got some loan, instead of buying a house, you could buy literally part of a company. There are situations where you could spend the same amount of money buying 3-4 houses instead of just one house to live in, and rent the others for example.

I know a person who bought a whole apartment building in a far off place compared to where he lived, but that had 16 houses to rent, and he is making x10 more than what he spends on rent right now. Learn what to get a loan for, make sure that getting that loan would mean more money and you should be fine, but not many people do that unfortunately.

You say the type of business person can multiply the loan to 10x the profit, but not everyone succeeds in doing the same thing because many people buy several houses in locations far from cities but not many people are interested in renting and unfortunately the houses are rented at lower prices to pay off loan costs.

Relating to the topic, that OP has accumulated the cost of a house that has been rented out for several years totaling 1 unit of house and he wants the loan costs to have his own house but he feels he can pay off the loan because there is no guarantee he has a salary that can pay off the loan for many years

That's so youths youths in country. I guess its not just in my country but for one speaking out of what I've experienced, It's just so annoying when they have that attitude towards loans. It kind ofakes me ask myself,

Do the credit score thing works?
Do this loan companies, banks inclusive even chats with themselves?

Am saying this becuase, your credit score is supposed to designate some individuals as credit worthy and others as not based on existing database but, you keep finding these guys getting more and more loans without paying anyone up. It's just crazy!

Worst is, these loan companies have just made taking loans so easy. You take it without any collateral and handing down any vital documents. I feel sorry for them both parties though.

The cost of production has increased so as the cost of equipment, materials, and cost of workmanship in raising a square wall of rooms. Building a house is beneficiary in the long run but let's make a comparison with the amount you will spend to build your desired house and what it will take to rent a house. To be honest, it is easier to afford a house rent of your choice but you can't build that type if you want to build one yourself, it will take years and if one is not financially buoyant to build a house, the two have an advantage they play but building yours has more on the long run, I wouldn't advise anyone to buy a house because there is a probability of using poor materials for construction.

A rent to own or a loan that will give you a house right after you paid it, is a good decision. Renting a house forever will cost you a lot, and it is only for temporary. The disadvantage of it is that not every single time is you have money, and once you didn't pay the rent, you're living in the street and you don't want that to happen. Saving is also another option, then buy a house and lot.

Indeed, what you want is to buy a house because it will save more on our expenses, be it every month or every year to rent a house,
but at this time buying a house also requires a lot of money, of course, and this is not easy,
I think it all comes back again depending on our abilities and just adjusting.

It is impossible to invest considering that you do not inherit from your ancestors. I get the feeling that i have wasted money sitting in a rental house and that's what i'm experiencing right now. Regardless i would definitely prefer to live in my own home and many people think so. As long as the interest rate was not too high i would use all my means to buy a house on loan.

I was looking for a house at the time of pandemic covid-19 and rental houses were very cheap. Homes for sale were very cheap. I thought about buying a house at that time but i was afraid because the interest rates were very high in the country i live in.  

How could i have known that inflation would increase after the pandemic? With the increase in inflation my chances of owning a house were much reduced and i began to research the government's low interest house sale campaigns. Renting is definitely a waste of money and if you want a comfortable life in retirement you should own a home.

If you can find an RFO(ready for occupancy unit) that will save you a lot.  Regardless if you have to pay it for 15 years and are not able to finish it is just the same as renting, after all, if you look at it this way, you never lose anything if you failed to finish the term since the money you spend on that unit is like the money you could have spent on renting.

So  I would say look for a suitable RFO unit where you think you can have good access for your job and possible future job (you'll never know about this).  If you have a stable job that can pay the monthly dues with no problem then go ahead.  Thinking too much will incapacitate you in doing the best action.  Sometimes we need to take a risk and face all difficulties head-on.

You need to adjust and find the best way to save in order to fill that hope to own a house, the disadvantage of renting is you are paying each month or each years but the properties will never be yours.

Unlike if you own a house, it will lessen the expenses as you can save the money that supposedy
for renting, you can use it for investment or for business, chances to grow the money is good
and it will help you in your future finances.

Regarding the OP's statement that he has settled in a rented house in recent years, so even if he is saving he has to pay rent every month unless he has income from other sources for the purpose of saving, I would suggest applying for a low interest rate loan instead of paying rent for the house every month but will not change the ownership of the property to ours, he can take out a loan according to monthly income and it is highly recommended that the monthly loan fee is equivalent to the monthly house rental fee.

That's why I mentioned that it's an inevitable waste of money. You're paying monthly but aren't generating anything from the money you're spending. Provided that you spend your entire life in a rental house, the money going towards rent would accumulate enough to buy a house in 15–20 years. The issue with loans is that if you aren't able to find a government-funded project like the one I mentioned, chances are that the interest would be enormous and would drive the cost overboard. I don't regret spending all my money on rent; there's nothing I could have done differently at 25 years old.

I always considers renting waste of money, I mean even though it might be more economically efficient if calculated but you still never gonna own anything at the end of the day you're quite literally just become the workers of the landlord, meanwhile if you decided to buy a house you'd eventually get something in return and it could rise in value, with renting all the money you just spent just lost like that, moreover it just feels good when you eventually gonna reach the point where you could live in a place without paying, meanwhile the other people that rents still got to think about how to make their ends meet in next month you're just lifting off some serious burden when that time comes. also it could also motivates you to earn more.

Therefore, you would really be needing a wise decision and see and check it out if you could sustain your current job or some investment to neither sustain your rent or would take up some house loan and
able to pay for long term or lots of years.Its not an easy thing.Who doesnt really want to have their own house? It is really just there are situations or conditions in our lives which
it do really hinders us on making such decision.We dont want to engage on things which we do know that we might able to lose it all in the end of the line
or simply cant sustain this is why we do stick into those non good alternatives but it does really have some pros too.

well, my take on this. if you are renting and you seldom go home to live in it. then, that's a waste of money. but if your family is enjoying and are happy with it, then, your rent is worth every penny. not many people can afford to buy their own house or get a rent to own as there are some requirements that they can't fulfill. so what they are doing is just live what they can afford with their money.

I think renting money is a dangerous thing if we are not good at managing finances, nowadays people are too easy to spend money so expenses are greater than income, from now on we have to change our mindset to be more productive and not wasteful because it will make it difficult for us and get into debt.

renting is always difficult.Especially if you rent a house alone, then it is even more difficult to buy your property, it is already easier in a couple since you can distribute responsibilities and start paying for your housing.Without additional earnings, it is almost impossible to buy your real estate, since a lot of expenses do not allow you to do this.

It is easy to buy your own property if you have money, but without it, like if you need to have a loan in a bank and pay it for a couple of years, that is a huge problem, and you'll also be sacrificing a lot of things for it, but we have no other choice as we don't have money to buy it in cash. Also, if you took out a loan just to purchase your dream house, you would mostly pay it off in a couple of years. The problem is that if you lose a job within that year, all of your money that was paid in monthly installments will be gone, as well as your property. It is very risky, but if we don't take that risk, we can't buy that house.

Not all debt is waste of money, if we can manage debt for business capital or increase capital then this is good, unfortunately most people nowadays only think instantly, they make debt a thing that can fulfill their pleasure, then problems occur, for example it is difficult pay then they can only regret.

As a young guy without inheritance, you will definitely rent an apartment to live. It's just advisable to rent apartment base on your income so one won't end up in debt.


Is this a monthly rent payment or yearly rent payment?


Naturally, I can't advice taking a loan for renting an apartment especially when you have no good job. One should learn how to manage the little resources he/she has and only take loan for business purposes.

Debt could be helpful if we know how yo handle and spend it wisely so that we can make a profit from it but if we'll use it to fulfill our wants over our needs, we will definitely be wasting it. Renting is fine if that's what we can afford but it will be better if we are also saving to buy our own house because renting forever is really a burden. Saving as for me is the key.

We also need to remember that rent goes up due to inflation as well. If the price of bread goes up, the electricity bill goes up, the apple new iphones are more expensive, the meal you had is higher, and the workers people hire are more expensive, then what would be the case to keep the rent the same price? That's not going to happen.

So if you own a house, you will want the rent to go up as much as the inflation, so if your nation has an inflation of 10%, then the rent you want to take from the people should go up 10%, if you do more than that's bad, if you do less than it's bad for the owner of the house. This is why I doubt it would be fair for anyone if it's anything but the inflation rate.

You are lucky that you can find an apartment within a $400 range. That's cheap when you compare it with other countries. But I don't think "renting" is a waste of money. You are renting it because you have to. It's like saying why not buy a whole farm and produce your own food instead of buying food everyday because it is an inevitable waste of money. Start saving for the down payment as much as you can. Then pay the rest. You will be paying a little more than what you pay for the rent, but in the long run, you will have your own house. You just need to make sure you always have a job. And also remember, not everyone can afford to own their own house.

Although it's cheap compared to other countries, it's not considered cheap when the average salary is €700–€800. If you're alone, it's practically impossible to rent by yourself; you'll need a roommate or a partner to split rent and utilities. The rents aren't considered expensive themselves, but the salaries are too low to support paying such a rent. It certainly isn't a waste of money; you need to live somewhere, but it's not generating any profit for yourself in the long run.
Monthly payment. It may not sound too much compared to other European countries or the USA, but it's approximately half of your monthly salary. Certainly, loans are a huge commitment, and you can't have any guarantees about the future. Just because life is working out now doesn't mean that it'll also do so 10 years from now.

For Most of the people renting is waste of money. For the other - renting is a good option
I am the one who would think that renting in the waste of money. there comes time in your life when you are broke - you can cut down on your grocery and other utilities - but you can not tell the owner to wait for some time because you don't have money to pay off they rent. 

The correct answer depends on the country you are in. If the city is expensive, like New-York for example, renting is your only solution to live there. For example in my city the amount people pay for 2 bedroom rent + utility bills equals paying out loan for same 2 bedroom flat. Financially having a rent flat isnt profitable, but you will have to stick to one place for 15-20 years if you take a loan, when youth dream is to move to other country, and elder generation does not feel stability in keeping work.

Renting an apartment is inevitable for someone just starting out in life. Without any inheritance in form of a house or a huge sum, renting an apartment is inevitable. I don’t think anyone who rents out an apartment intends to keep on paying rent forever. I know I wouldn’t want to pay rent for the rest of my life. That is financially draining.

One could get various source of income and work to save money to buy a house of their own. I’ve met such folks.
I wouldn’t exactly call renting a waste of money as even some home owners now once paid rent at some point in their lives. And not everyone could be homeowners.

Life is full of risk, but if you have a stable income that can pay off a long-term loan, I must say that a loan for the acquisition of a house is worth taking because all this rent is just temporary, and after some time the owner can just chase you out of the house and you will be left with nothing, it's better to be a house owner and pay back the loan instalmentally than living in a rented apartment. The sweet thing here is that you are in a country that will give you a loan up to the amount that will make buying a house worthwhile. If I have this opportunity here, I will grab it with both hands. 

Where do you live if the case of renting a house will not be much different from conditions abroad. I mean, it's all based on income, land ownership, housing and if there's nothing to support it, there's one option, which is renting. It doesn't matter if it's long term or short term because housing is a must.
In addition, related to the cost of rent that differentiates their place of residence, because talking about various incomes, most of them will rent a house that is closest to their place of work.

Based on the understanding out of the thread I think it is good to go for the government's new program. When you keep on renting, you'll end up without anything in belonging to you. When you opt for a loan, the regular rent you pay can be converted regular loan payment. After specific time tenure the loan paid will help in owning a property. Renting isn't waste of money, because it is the spending to shelter ourselves.

The location is one of the major factors for one to look at the rent or taking a loan for building their homes.

I've got friends that have settled in rural areas where lands aren't expensive and they can just work remotely which is the benefits that they've got from the company.

As we all know, working from home now is the setup that majority likes and favorable although not all really likes that setup.

So, renting is good for short term so that you can move anytime you want.

Both are good as long as you are able to complete the payment in due time, as there is always a contract for that when to be considered fully paid. However, I find it more convenient to just find a rent to own house as you can immediate live in it the moment you start renting, although it’s quite more expensive than to buy a house and lot from taking the loaned money.

In the short term, renting is generally good and convenient but OP's dilemma lies in whether to buy a house considering all the factors/risks that may happen in the future. I wouldn't worry about all the possible factors coming from the external environment but would review the relationship seriously. If OP is 100% confident in the commitment with his girlfriend and would not fear that the relationship may break, why not buy a house ? Otherwise, any breakup or divorce in the future would severely ruin everything and drag OP into a mess that he may never come out of. I guess this is the focal point to really think about.

Eastern part of the Europe. You can rent a 2 bedroom flat in a new series house for 400-600 EUR with around 150 EUR monthly utility bill. And you can pay same money if you take mortgage. Its is usually either you rent, pay mortgage for that flat and help someone else to get a new property (which is illogical), or pay mortgage for your own property. Second option seems to be the best, but there are three problems 1) younger generation have difficulties to get a mortgage 2) younger generation want to move abroad (due to low salaries here and their high demands) 3) elder generation are used to what they have now and want to fight for a better future.

have you thought about asking for rent from your s.o.?

Still a big risk I would say, I won't advise someone who works under a company or a boss to get a loan for a complete house, there is a dangerous part that you failed to see here.

1. After taking the loan the company you working for might fold up, leaving you with no choice but to start hunting for another job and that depends on which part of the country you from, if you lose your job in my country you will see hell before getting another job.

2. Your boss might decide to sack you for unknown reasons, this happens a lot around me, I became financially stable since I stopped working for anyone but myself.

So if anyone wants to take a loan they must be sure of their source of income, way less riskier for those that work for themselves, not under a company or somebody.

I do agree if the commitment is surely but, to make it sure then they have to get married. That's the only way to assure that their relationship should be assured and that's the time that they should buy a house and pay for its mortgage.

I've seen couples that have decided to take house loan but they're not yet tied to each other. In the end, many have become problematic and they didn't anticipated that they'll be ending with a break up.

There are so many different situations you need to find the setup that works for you. Some people get lucky with a flat share with friends at a fraction of the market rate, others get trapped with the worst housemates out of necessity yet still pay high amounts due to the local area, some people who buy a house pay stupid interest rates because they do no research while others are running optimum finances that make a mortgage the best option. It can be hard to find the ideal house as a buyer because your budget is often fixed at the limits of what you can afford, many people start off with buying a flat which comes with the possibility of problems you identified as a renter.

I cant really believe that there are couples who had decided to take up some loan even if they arent that married and on the time that they would be having a break up then the ones who had signed those papers is

the one would be sued out or be asked out for those mortgages which is bullshit for someone to agreed upon.If you are really that legally married then it would really be that understandable that you both
do have rights about your priorities or something that do talks about conjugal property which is really that very common.

Renting isnt a waste of money specially if you dont have still the money for you to have your own house.There's no other options left when you are not financially ready.

with renting you are just become the cow for the landlord, you will never get to feel less burdened by not paying rent for eternity, that's reason why property are so much expensive right now because it's very essential.
I always believe that in building your wealth when you got your first millions or something you should buy house, that way you will have good minds to start your activities everyday and more enjoyable life, even taking up some loan is fine if you could but if your money so limited you could only rent then that's fine too maybe next time.
but if it's some place that's very strategic in the center of the city where it's near your works where sometimes the price of property there doesn't even make sense then you should just try renting.

Ironically renting can be a position akin to holding cash, not usually a great idea but in some situations far more profitable then being caught holding property which could be rapidly depreciating.   Also it really depends on the circumstances, having a family usually means a house is required where as a single person might be moving about so much property is really not a necessity as they are often away from home it would not be fully used anyway.

Well, it's true story and they seem to be too confident with their feelings and that's why they're coming up with that decision of taking up a home loan and they'll just pay for it.

Renting is convenience for those that are moving from one city to another. Also, getting a home through loan is really a decision that should be taken seriously.

It has to be decided and needs thinking for several times before doing it whether you're a couple or just alone.

In today's uncertain economic climate, buying a house may not be the best financial decision for many people. With housing prices depreciating in the US and potentially in other countries in the future, taking out a loan to buy a property is not a safe investment. Instead of paying high monthly loan payments, it's better to rent a property. Renting eliminates the additional charges associated with homeownership, such as property taxes, maintenance, and repairs. Rent payments are typically lower than loan payments, freeing up more money for other expenses.

Renting also provides greater flexibility when it comes to choosing a location. If you need to move for work or personal reasons, you can simply find a new rental property, instead of being stuck in a single place. Renting can be a smarter financial choice for many people and allows them to have more freedom and flexibility in their housing choices.

Renting has its disadvantages - at any time the fee can be increased, there is no stability (there can always be a need to move out urgently), problems with repairs. so it is necessary to have your own housing in any condition and of any size (at least a room in an apartment). However, renting is not a waste of money - it gives a certain freedom of movement. And it's a basic option if you can't save for your own flat

Actually, both have an advantages and disadvantages. Renting may be a waste of money if you have found a housing project (government funded or not) that's pretty affordable and it's monthly amortization was close to what's you're paying for the apartment you're renting. Because, basically, we're gonna be working for the rest of our life's to survive, therefore we don't need to worry on whether or not we can sustain payments for a 15-20 year term. Nevertheless, if you end up being not able to work because of serious injuries, I guess loans are protected with insurance as such, including death.

However, as per OP's situation, it does only make sense that they're not settled with his girlfriend as he also was uncertain of what their future may look like and how are they gonna end up paying the property when in case they've got separated.

Not only in New York, but the demand for housing has also increased, and housing finance is a significant issue in my region, so there is no way you can avoid renting. Currently, renting an apartment is even harder to obtain, and because of the high demand it has affected the price, owning a house is now so ridiculously expensive, and the majority of NGOs that help with the housing problem are not very functional in my area.

Yes, that's true, but it comes back to our needs whether we need more rental housing or not. Renting is something that is profitable in certain situations and in other situations it will certainly be different. We have to consider everything including our needs.
For example, we are not reasonable enough when we work outside the city with a contract work status, we have to buy or even pay off a house. Under these circumstances, renting is the best solution. It's different if we really live in that environment and have permanent jobs there.

for some people they would want to pay off rent - and for other some people would rather pay mortgage
Maybe many people just want to go with the flow while the other people do plan for what they have to do in their life.. .

My brother is fine with having a few roommates; I, on the other hand, can't stand having more than one, and I'm also picky and a little difficult as a person. I want to have my own space and not have to worry that my actions or preferences may disturb someone. Thus, it's not an ideal solution for myself; I'm getting along just fine with my girlfriend, though there are minor issues. If I were to get a loan for an apartment, I'd choose an older one that required repairs that I'd work on myself in order to save money, and we'd put personal effort and dedication into that house. The feeling that you've created something with your own hands and personal work is exceptionally satisfying.

Most of the people are tired of renting and they have made themselves small house-or they have renovated the bus and started living in it.
This is all to get rid of the rent - sometime. you dont have funds to payoff the rent. I think one should have a roof over your head. Not a RENTED roof - but your own roof.

Whether renting is a waste of money or not depends on on the individual and where they live. Is the cost of living high or low? Do you live in a metropolitan area or in the suburbs? What's are the rules and regulations governing renting or buying your own property. When the individual has been able to answer this question and many more then they will come to the conclusion whether renting is a waste.

It depends on the market conditions. If you can put $1m in BTC and rent a place for a year, and the BTC price double in that time and your rent is less than $1m over that period, then renting was a good decision, because the BTC investment turned out better than the potential real estate investment.

Interest rates are important too.

One thing people often miss is when you own, the mortgage payments are not your housing cost, because they consist of principal and interest payments and only the latter component is your cost. Principal repayments add to your equity; you're just moving money from one pocket to another.
E.g. if your monthly mortgage payments are $1000, $700 of which is principal and $300 of which is interest, you're only paying $300 to live. You're unlikely to find a place to rent for that little. The remaining $700, however, is a commitment to move money from one pocket to another, and you have to have it or you'll get in trouble.

Low interest rate environments favor owning your home, but they also lead to property price bubbles, because when it makes more sense to own, more people do it and prices go up. An arbitrage opportunity arises and gets arbed out. So if you bought a year ago, your house may be worth less now that the interest rates are higher.

But then again, when interest rates are high and you're tempted to rent, the higher mortgage costs are passed onto tenants. So it may be a good time to buy, especially if you don't have to commit to the current high rates for long.

All in all, owning is good and it tends to be a safe investment with less volatility than many other investments. If you can afford it, it puts you ahead of many who can't, even if otherwise the conditions favor it. This creates a market inefficiency which you can exploit.

Calling renting an inevitable was of money is quite a narrow view of reality I think. I mean what would the world be without the option to rent places? I am not only looking at it from the perspective of going on vacation, but being able to rent a place significantly increases global workforce mobility for instance. If you get to work in a dream job but you are only willing to do it for say 3 to 5 years in a place in a foreign country, buying a house there might not be possible nor feasible financially. Being able to rent a place is the perfect solution. Think about all those shared places as well and how students organize themselves these days in order to reduce individual cost. All of those advantages come with renting. While you do incur a certain kind of opportunity cost due to renting, you open up a different range of options for you at the same time. You can quickly switch places, you can increase your personal lifestyle if that is of more importance to you than owning property at a certain point of your life. The generalization of it being a waste of money goes too far I believe. I know what you are trying to say but there is a reason why option carry true financial value and renting gives you options, hence is not only a cost factor.

$400 is a big amount for a developing country like ours.
However with the passage of time I believe one should have a small place - a dream home of one own rather than renting one should spend in on their own home

If the life turns its back on me and I be force to rent, I will rent, but in other situations I will try my best to have my own place. I feel more comfortable if I own the place. No matter what agreement or contract you have, place owner can always find a way to kick your out when you rent. I prefer to have small but my own, instead of living in one's trunks.

Would gladly read posts from users that rent for a long period (not exactly one place). What benefits they have. I've already read that some people rent, because it allows them to travel and not to stick to one place. My job forces me to stick to one place. And my city isnt that big (1 million citizens only) to want to try to live in different city places because of its specific areas and needs. In case I need something I have a car or can get there by taxi.

I quite agree with you as having your own place is more better than renting out a apartment. For one, i too feel comfortable living in my own home with no fear of eviction from anyone.
Obviously, when you’re young and starting out on your own, you might be forced to rent. While people rent cause it helps them to be more flexible and not stuck in one place. I think having your own place doesn’t stop you from being flexible. It’s best having your own home as you could do all the traveling and exploring you want and still have a home to come back to and lay your head. I think nothing beats having your own place.

Nothing beats to have your own house as you will not think about the monthly rent, most of us if not all will agree the
convenient that you will get when you own a house.

And like with yur argument, it's good to travel knowing that any time you can simply go back
with a comfort of your own house. Investment wise, you can save your monthly rent and use
it for your own business.

You can calculate the answer to your question, it most markets but not all it’s cheaper to rent when you look at the first 5 yrs of house ownership. At 5-15 it starts skewing to ownership and 15+ totally owning.

IMHO the time you expect to stay where you are becomes the more the moot point about whether you should buy or stay renting.

If you’re not buying to live in, but as an investment think of it as a savings account, where other people are basically paying into your savings account. General rule of thumb is make 5+% net annually and do not consider value appreciation, depreciation, tax breaks, saving interest etc in that calculation. Also consider most investors don’t borrow for the first one.

With the passage of time - especially after COVID and this recent earthquake. I am now losing interest in worldly things.
I now believe one should have small house and a good emergency fund and nothing more than that - we all will be dying one day and nothing will be helping us.

some people are very good in calculations but the plans not always work as we think.
There is a supreme power which is also moving the world and we must keep that in mind. In all we plan - we must seek the will of the GOd . . this is my personal opinion you may disagree.

Most plans have rock-solid foundations when they are first created. But, most of these plans do not take into account the possible unforeseen circumstances that can happen along the way. These are the things that foil up a plan that causes its failure. So no matter how great the plan is on paper, if something happens that you're totally unprepared for, your plans will crumble. Similar to investments - if one single bad thing happened to your investments, you'll see your money dwindling away at a very alarming rate. So it's really great to have a stable career before you get that mortgage for a house because you'll never know when you're going to lose it all and really regret paying for a mortgage only for it to be taken away from you just because you can no longer pay for it.

1. Any rental of residential real estate (passive rental) is a cost, and REGULAR. You have to be very careful with them. Active rental of real estate is, for example, the rental of a production hall or a warehouse for products - i.e. the rent that provides you with INCOME.
2. It doesn't really matter where you live. The rental price is proportional to the average income in the country/region/city where the residential property is being rented. But there may be nuances. for example, if you decide to rent a luxury apartment in a not very rich country. This is hardly reasonable if you do not have an appropriate regular income to pay for it painlessly.
3. For my part, I will say that until "stabilization of your life", renting an apartment acceptable to your level of income is a reasonable decision, albeit an expense. Let me explain. As long as you do not have a family, children, or your own business, you will most likely look for places for higher-paying jobs, more comfortable living conditions, etc. Therefore, most likely you will be moving from one area of the city to another, or another city, or another region (and possibly to another country). And Buying a property will become a burden. If you have not paid 100% of the property immediately, and you need to leave, you will have the following balance:
(your income) - (mortgage payments) - (payments for renting a new property) - (one-time moving costs) + (rent from your rented apartment). As a rule, mortgage payments are noticeable, and I'm not sure that they will be covered by renting out your property, which will remain in the place where you moved from.

I was lucky, and I did not leave my city. Once I bought my first apartment, then a child appeared - they sold the existing one and bought the next apartment, then they decided to improve living conditions, in a more comfortable place - they bought another apartment, and we rent out the one in which we previously lived. But before buying the first apartment - I rented a house, it was up to 26 years. Rented housing in proportion to my income, so that the rent does not exceed 15-20% of my income

I would like to ask people that say they want to be flexible, to travel and live in different places - how many times did they really changed their jobs or moved to different place to live ? Travelling and being flexible is two different things imo. I still travel and it is always nice to return home. Those who prefer to be flexible - where is their home? It more like temporary housing. People in search for themselves.

Perhaps I am old fashioned, but I prefer to stick to one more or less place job, and become a professional, irreplaceable specialist. Then to jump over city or cities, try different job, rent different places.

Moving to another place is hard. Be it a new city or the country
And I think the answer to this question varies. I am not in favour of Rent all the time - I would like to have my own place.

We all want to have our own place but renting is the solution for those that are moving from time to time. Like those who are digital nomads, they can transfer from one place to another and that's why it's very easy for them to move.
They don't need to think of anything they have to cover as their asset because for them, it's too easy and there's no hassle at all when they're moving from country to country. Adaptation is also interesting because they learn to bear with new culture.

You could say this rental business is also a property business because rent takes the form of a house, place, or land. Right now many rich people in my country deliberately build a place where it is very compatible for selling, whether it's electronics, kitchen needs, and others. they don't treat the buying system, because by renting the owner still has full rights over the place but gets passive income from the results of the monthly rental fees. For those who have a place to rent, it is a smart move, but for those who rent it can be said that it is an inevitable waste of money, but at least both parties can benefit each other.

Since the time I have started an airbnb project - I give half of my amount to the rent. I am always worried for the next month rent.
I pay the recent month rent and then the next comes in a jiffy - I think one should have one own small place - to decorate with love.

We need to work really hard to keep the property in a good condition.
I have started a rental project and it more of the repair and maintenance - people would not mention what they have broke or damaged. They would sneak out quietly and you keep repairing for the damage made.

We don't need to give ourselves bother or load because of relationship that have not be pronounce as husband and wife. And secondly i cant date or be into relationship for Three years without conclusion of marriage, i know that marriage is a life thing and you have to make sure that you find a good one. That's we guys make when woman is close to us, we do borrow, take loan because of woman all the name of satisfied a woman, it's bad, maybe is from the country you are.

That is correct - but one can sell the old home and get a new one.
In our religion we are advise to keep moving - this is one of the ways to lean. that life is not easy and that you should travel light

Quite accurate all of it. I look at in this way:

- If you buy, it may rise in value, go lower, you may loose money or not. If you rent, you are certain you will loose it all.

- You cannot be sure if you can make your payments, but you would not be sure you can pay rent either. However, if you have managed to pay at least for a few years, you have equity on the property (part of it is yours, not the banks). You can sell it and go renting something cheaper, is not like if you are left with nothing (unless a super-crisis 2008 style that might actually make you loose).

- On relationships: same case, if you divorce you can sell it. Make sure there is an agreement on that before you buy. Only caveat with it is kids and rights to your partner so, again, an agreement could be useful if possible at all depending on your country's law.

- Finding the ideal house is impossible as renter, and is also impossible as a buyer unless you have unlimited budget. There is also an extra you could have: an extra room, an utility room, a top-floor, a garage, a garden, a very large house, a swimming pool... You always have to settle with something and, if an expensive area, you will have to settle with no-frills properties and feel a bit "constrained" perhaps.

The market I am in is super-hot. It means that finance is very available and there are many people that use property as a business. The fact that interest-only credits are available makes prices higher. I will open a thread on that now that I think of it.

What's your religion? I have never heard of a religion that teaches its members to keep on moving. Maybe that's sort of some metaphor or figure of speech that has a meaning about moving forward in life and not in location.
Those that sell old homes to buy a new one is normal and there are business folks that do buy and sell homes and if it's in a good location, they'll have it rented.

I don't know what your religion is, but for sure, the purpose of moving to another place is to attract or invite people to join your religion. The only thing that I've known is that there are other people in that religion who are visiting places to spread their word and also trying to convince people to join their religion or go to their church, but they are not transferring places; they will stay in that location for a couple of months, fulfill their mission, and then be sent back home again.

Yes it is a waste of money specially if you could have your own in any means like what OP has talked about (House Loan).
But for us who doesn't have enough money I see it as something like food and water it is necessary needs of us humans to have a safe place to stay.
To be honest I agree with OP if you already have a partner that has been living with you and helping you with everything you should consider settling down and buying your own house even if it ia through a loan, Just think about it if you would take a loan for a house you would pay for it monthly or every salary that you would get just like renting a house but at the end of it that house would be yours.

Renting is almost never a financial waste. Every person needs a roof over their head. Depending on your circumstances and resources, there is a fine line between renting and owning a home. You won't be subject to taxes as a tenant, and maintenance costs won't be excessive. Insurance for rentals is less expensive than for property owners.
Renting is almost never a financial waste. I've lived in a rented apartment for years, and I have a very free schedule. I never worry about being transferred because I always find a nice place to rent no matter where I am in the nation.

Rather than renting, buying seems to be the better choice. With the same premium what we pay as rent it is possible to pay the premium for the property we've bought. There might be little difference in the rent and the buying premium, taking it as challenge and running for it will make us own a property in specific time period than renting the property for some time period and after some time period if we calculate what we've spend on rents stands high without anything owned by us.

Buying is always been good rather than on renting but we know that not all people does have the money for them to buy on huge amount and this is why they wont really be having no choice but to rent out.

It is really just easy to make out suggestions on buying without even trying to look out on others condition when we do know that we are not all capable.If its just that possible then we have done that since
from the start.

Its not a waste of money it is really just that we dont really have no choice but to rent out because we arent that capable for now, but if the time comes
or does have the opportunity then we would definitely be buying our own house or properties.

Renting is not waste, if one doesn't have enough money to buy a house there is nothing that can be done. People don't rent house because  their is something special thing in renting house,  but people rent because that is what they can afford at the moment.  If everyone is buoyant to afford a house I don't think no one would want to be in a renting apartment. Renting is economical to people that does not money of buying a house , renting might also be a waste to people who can afford to buy a house.

Rent or you would be living with no roof and would be exposed to rain and shine?If you do have that sufficient money then you would be opting on going to rent.
Its true that not all could really afford out on buying a house and lot which means it leaves us no choice but to rent and would included out on our monthly expense.
As long you could sustain out yourself whether in short term or long term then what matter most is that you are living on a house although you are spending money on it monthly.

Renting is not inevitable as a waste just like you can lease a car and somehow its more sense then committing to buying and owning a depreciated car value in future.  There's multiple costs and rates of loss to consider not just rent but the cost to own, the loss of opportunity to capital you must commit to a purchase and so on.  If you have a better place elsewhere to invest then you may well prove the rental is smart use comparatively.

In recent time - people shift so much - they make thier own homes and then leave the country for good and keep finding people to stay there is take care of their home.
And then they die in a rented home and a foreign land.

In my humble opinion one my have a small house. I have a rented apartment and i sometime dont have money to pay off my rent.
It was very stressful when I was jobless and had no source of income. So in my opinion Renting is surly a waste of money

Renting a house for a short period of time cannot be called a waste. but if for a long time then I think it could also be something that is not very good for our own economic growth in the future.

Taking a loan from a bank with low interest and then we buy a house with that money I think is much more effective. but on condition that we have calculated our financial ability to pay installments to the bank every month. but this step is indeed different from taking home installments (home loans). because the price of a house purchased in cash will be cheaper than buying a house on credit.

Yes, if you have a good plan and you are just trying to wait for your loan to have your own house, renting is not a waste
but a good start to plan about your future.


Low interest will help you to budget your finances, plus doing some side job to add up in your finances will also help you
to pay your loans. Thinking about long-term goal and planning ahead to make sure that you are capable of covering all your loans
and your daily needs are very important to assess before taking anything.

I can agree, renting is an inevitable waste, I used to rent a house for 5 years, it's really wasteful but there is no other way. If I save enough money to buy a house in my country, then with the meager income of a worker like me, it will take more than 50 years for me to save enough money. But while our lives are apart from housing, we have hundreds of other expenses to take care of, so owning a home is sometimes impossible for many people, and the only option is rent.

If there is no other choice, then we are obliged to rent housing. Sometimes I think that maybe it's for the better, things have changed a lot in the last year and I've seen a lot of people have to leave their homes and move to other cities where they rent housing. If I have not spent the money to buy a home, then I will have reserves that will allow me to rent a home for a long time. For now, this is the best option for me, it may change in the future, but for now I will only rent an apartment.

If you don't have the money to buy, you have to pay rent, but if you have even the slightest chance, it has never made sense to me to rent something instead of buying it because at the end of the day you don't earn anything.

But you can be unemployed for a certain period of time and not be able to pay this money, or you can earn a lot more and pay off the loan in a much shorter period of time, so you have to be ready for any eventuality.

When you are too old to work, you will have paid tons of rent but you will not own anything, so what will you do then? This is not advice, but I would take the risk of taking a loan and buying a house.

The good thing is that this debt can encourage you to earn more and eventually you will own a house, the bad thing is that if you are unemployed for a while and you can't pay this debt because of an unexpected expense, then you have no choice but to sell the house back and start earning again.

I hope this has been helpful. I wish you a great house and so much money that you don't have to think about it for the rest of your life.

There comes a time in your life when you are sick and not working at all. Sometimes you loose your job but you have to get money from somewhere because you have to payoff the rent.
Having your own place has its own benefits - Renting is the waste of money

Here in our country there's a rent to own condos that you can try if you want to have property but you only have a certain amount. Renting is not really an expense if that rent will be beneficial for your work and source of income as well as for your peace of mind then why not right? I am renting in a small apartment last year because I need to protect my peace of mind, but this year I went back home but next time if I will rent again it could be a rent to own that time.

Rent mainly depends on the locality, and it subjective cause if you're a working person and need a house or an appartment very near to your working place then rent is cheaper compared to buying the same property, whereas in long term paying rent becomes obsolete while paying mortgage gets you a house at the end but if you're moving then you can simply switch your house when you're at rent but once you bought a house then it will be there forever.

most of the people are living in van and buses because they cannot afford rent. They are renovating their vehicles.
SAving as much as they could.
This is mainly because people have now started realizing that renting is a waster of money for sure

Renting is definitely a waste of money and many cannot afford to buy their own homes and cars then they were forced to travel by van and bus. Spend money very judiciously don't waste money on unnecessary purchases, instead spend money on necessities. If you have a little more income then you can spend a little more if necessary you can save it if you want.

They just make their car a bed without really renovating it. I've seen a documentary that said that most of those people have jobs, but because the rent is so high, they can't afford it, which is why they are now living in their cars. Lucky if you have a van, but if you have a sedan, then it is difficult, as others will say they can't sleep well but still they don't have a choice. It is not a waste as you are using it and finding a purpose for it, but if you can afford to own a home, then why not, but again, it is very expensive and not all of us can afford it.

That is true - I know a friend of mine who said that he slept in his car too for a long time because he could not afford a home.
He used to shower at his office and give the laundry to dry cleaner. Eating outside - some people live a difficult life style before they are really sattled.

Renting is definitely not a waste of money. There are a lot of people that can’t afford to buy their own house and that’s why they rent. How’s that a waste of money to you?
You also mentioned we should instead of spending on unnecessary things , to spend money on necessities. Housing yourself doesn’t sound like a necessity to you? If you haven’t got enough to buy a house, you should go live on the streets cause renting is a waste of money and heavens forbid we waste money on wasteful things like renting.

Renting is only good for businesses with high margins and possibility of gaining clients locally or “pull nature”. For example banks!! They always rent their spaces and wouldn’t buy any fix property for their branches except the Head quarters or registered offices. Most of the time they do this because a branch could get closed due to low customer retention or particular location may not be beneficial etc. Though it happens rarely in the banks. However, there are other businesses like restaurants, storage units etc who will be on rented space only.

However, they are businesses and they are managing it on the profits.

But when it comes to the renting home, we are literally giving away money in the hands of owner. It would be far better to choose bank loan and own the house and pay EMI instead of rents.

a careful planning is needed in this case before we make any decisions including planning for a better future such as having a dream home. or maybe we can start from a simple house that is cheaper.

and it is true that of course when we have an obligation to pay installments every month. it will be more effective if we have a side job to supplement our income and to save some money for reserve funds and emergency funds. which is prepared to pay installments when we are sick and unable to work.

it seems many have realised that when the rent takes up more than half of their salary there's certainly something wrong with it so they'd think just renovating vehicles for temporary solution of housing might be a good idea. even though the fact in regards of renting is just waste of money could still be heavily argued, I'm certain that majority of people are also wanna have some real assets where they are paying mortgages and get something big in return not just make the landlords richer and richer every months.
i'd imagine someone that rents for 20 years straight could have the same chance of getting kicked out of the house they rented just the same as those that newly renting the house for few months, sounds ridiculous.

It's the importance of extending your capabilities in finding side jobs to add to your finances. Planning to have your own job is not an easy as it is. You needed to work harder while paying your rents.

Everything is doable if you have a good goal and you are working double time to make sure that you will
be able to make things happen.

But the good thing is that he still has a place to stay for shelter and rest even though it's only limited to his car as a substitute for a house. Because until now there are still more people who rent a place to live by paying it monthly and there are also some people who cannot afford to rent a place to live until now, but are still grateful because they are still allowed to live in their own parents-in-law's house. But I can't imagine those who can't afford to rent a place to live without having their own house and their parents too.

This is the importance of working to make money and saving to buy a house in the future, even if it's just a makeshift size. Because when someone starts to have their own house to live in, they will always feel comfortable and happy and will look richer even though basically the assets they have are not that many.

If a man can build a house of his own, then it is a great thing for him. And if he does not build a house, if he wants to rent someone else's house and live in it. That seems very foolish to me. But what I am  Realized that it would be great to build a house for myself. What some people think, I have to do what I have to do to live happily and peacefully for the rest of my life. I think I need a house for myself.

Of course, there is nothing more comfortable than being in your own home. But nowadays, owning a home is not easy. In my country, for an office worker to be able to save up to buy a house, it takes at least 5 to 10 years, and this will be even further for workers. It can be said that real estate is a luxury for many people, so many people tend to rent houses because, in life, we also have hundreds of other bills to pay, not only saving money to get a house.

Here in my country too, we have a similar running business that is what you called rent to own condos or properties. Personally, I think that depends on person's situation coz there are also times that renting is beneficial if you and your family is working very far from your home, then you could actually choose to rent, just like our family's situation now. It might be temporary for now but maybe in the future we would decide to find a place where we could rent to own and also a place which is accessible and beneficial for us in the long run.

We all need to manage our fundss
Renting is surly the waste of money- one should have a small place to live to avoid over spending.

I believe this is where the major problems are in my location too especially if you are looking for a house in a nice location and a comfortable house too. Prices are usually expensive and it is only in that high-priced houses too that you might likely find funded by Banks and these ones are not interest-free either it is however also much easier to rent as long as it is not expensive.

And some of us must also be faced with the fact that sometimes there are several types of jobs that make us unable to do side jobs. so it will be more difficult to supplement income from other jobs.

The type of work also determines whether we can find a side job or not. like office workers who have to work overtime every day until midnight. or bank staff such as a teller and other departments that sometimes they have to work overtime every day. so they are exhausted enough to look for side jobs to supplement income. and the only time left is for them to rest. so not all of them can have side jobs.

Building a new house costs a lot of money, even someone with a monthly passive income still chooses a bank loan to build a house instead of saving for several years, the basic items for building a house are increasing every year, but it is recommended that you keep saving for the purpose of building a house because we have to setting limits on rents for less than 2 years, Op has lived 4 years and spent $25k in rent which is equivalent to the cost of a new house for a minimalist size.

one should know that builidng house from scratch also require time, you couldn't immediately live in the house you should wait until it gets built first then you could live in that house afterwards, but where are you gonna live in the meantime? of course you'd be renting house for about 1 year and that's already massive waste of money.
having second hand house is fine if it's relatively cheap enough and good enough, meanwhile you're collecting money for building your dream house, having temporary second hand house could also save you from the costs of renting since I think the price of the house rarely deprecating.

this is a very good point. Most of the people lease the house rather than paying the rent.
I have seen many documentaries, where people are converting their vans to their houses. And they are happy living there.   

The biggest premium would be the service of the workers who do the building, their skill and experience combined with land value and the transformation of clear or unused land into a working home can cost alot.   If someone acquires or can learn the skills to build a house, they only then need to solve the last part a way to get land cheaply before it becomes popular like a city builds up premium way over basic materials.    
    Most parts of the world you can not just build anywhere you like or own, there are all sorts of rules and drawbacks to consider but a few select places you have freedom it really does just come down to skill and time to stack bricks on solid unused land.   Building can be gigantically profitable and also highly in demand by society that often lacks good housing so its a sector which in theory should do well.

Final point would be that housing is possibly one of the most subsidized and government influenced sectors in the world.  I think only finance and debt is as overshadowed by the influence of government, also military hardware must be but these three are really political imo

It completely depends on the user. If the priority is a shelter, and they doesn't want to invest big the better choice is renting. Here you can avoid the unwanted expenses of renting when a specific amount is invested and the return out of it on the regular basis can be used for paying rent. In some cases it is specific time periods rent need to be paid initially, so that rent isn't necessary to be paid. This way of renting is called leasing.

rightly penned down. That is correct - it depends on user. For me renting is really a waste of money.
Rather I would prefer having a van life of a bus life - where I could move when I feel like moving. I am so tired of my next door neighbour have I been on wheel - I would have left the place.

there are many ways people are saving money are saving money. They are doing most of the work by themselves - renovating the old furniture - DIY stuff
Making their own cabins to cut costs and save some extra money.

There are also prefabricated houses that are built in significantly less time than conventional ones. They're usually cheaper too, and they offer great characteristics for their price. However, why would someone build a house from scratch when you can purchase an apartment for significantly less and be ready to move at any moment? In the worst-case scenario, you'll renovate it or make a few repairs. Personally, I've seen older houses with two bedrooms that are quite cheap to purchase, especially if they're not situated in the city center. With a renovation of the kitchen, bathroom, and windows and doors, you should be good to go.

   I feel what you mean in this topic that you did because,  I am also one of the house renters here in the local community where I am located and the monthly income I pay is around 60$ every month for 5 years.

   That's why this time I'm saving up to buy even a simple house but it can be said that it's mine and named after me. Because I'm just wasting what I pay for the house that doesn't belong to me because I'm just a tenant of the landlord. So it's still really nice to have your own house.

Currently there are many services and conveniences for rating money, only with an identity card capital so we can get a loan without collateral with a repayment period of up to 2 years, and of course, easy loans have risks, namely very high interest of up to 100% in a year.

In this situation, a long-term rental of a house is the worst option. You will simply lose money on rent, instead of saving it to buy your own home. The middle option between buying a home and its arena is a home loan. Although we spend our money in a larger amount than the cost of the housing itself, in the end we become the owners of a house or apartment. That is how, in my opinion, it is necessary to regard this situation. But the fact is that when choosing them, it is necessary to take into account dozens of other living conditions in which we find ourselves. And here, without taking them into account, it is impossible to give any specific advice.

I think it is a good idea to have your tiny space which you can call it your own. Rather than wasting money on rent.
I realise it during COVID - when I lost my job and I realized that not always you have hefty amount in pocket to payoff the rent.

Renting is not the waste of money if you you dont have your home. But when you have creative mind and a bit of resources then having a custom built home is always a good idea.
People are renovating vans and buses and are living a very good life. I would go for that option rather than paying rent.

Correct. there are many things to consider in this matter. such as our income and expenditure levels each month. and we also need to look at the level of balance of our economy in a certain period of time. and if we see that we can set aside enough money each month to pay the mortgage and we have a job for the long term. then it would be wiser for someone to apply for a loan at the bank. and after getting a large loan from the bank, we can buy this money into a house in cash without credit. so that we only need to pay bills every month to the bank for borrowing money. and we are already in a position to own a home. but this condition can be done if we really believe if we have a job and income in the long term. at least until we can repay the loan to the bank. if we are not sure about the long term of our job then we should not take this risk.

I think renting has its place in the demographic, specifically for people who are frequently moving out and staying in, as well as people who aren't that well-off to buy their own properties. I don't see rent as an utter waste of money, cos at the end of the day you could still live in it and unless you're paying humongous fees for a leaky rundown apartment/flat, it's not much of a waste. Are there better ways for you to look for a house? Yes, living with your parents is a pretty common situation nowadays, and you can pay them rent for less than what you would normally pay other people for (I guess), but it's a worthy spend for me, I don't see it as a waste of money because at the end of the day, you still get something out of it. Not everything has to be an investment especially if you're already living as frugal as you can be.

Renting is never a waste of money; it is a survival trait and an important factor of life for every individual in every aspect of the entire world. There are several purposes to renting.

• Home rents for a personal abode and roof to sleep every day
• Business purposes e.g studio, hall, mart etc and more

And both purposes are pivotal and unavoidable if you are a business owner or an individual because irrespective of class, you need a roof above your head. Meanwhile there is a scenario where renting becomes a waste of money; and this is when you rent a home above your means of livelihood.

For example, if you are renting, your job must be able to pay your rents comfortably every month without you struggling. If you struggle to pay rents; then you are wasting money and not renting.

When you don't decide timely that this will be a big drain on your saving. Then this will be surly waste of money
Once my finance teacher said - never purchase a house - live your life on the rental. But I didn't like his suggestion and I would like to have my own space be it small or big. But its a treat being a house owner.

It seems that your finance guru isn't a very good teacher and maybe he just can't afford a house yet to give you and others such advice. In my opinion, this is very strange because how can humans live comfortably if every month or year they always have to pay off their house rent? Even though he himself knows that all humans in this world need a home for a comfortable place to live and shelter when they want to rest in peaceful conditions.

But I couldn't stop thinking when he advised other people not to buy a house but instead ordered other people to rent a house, it felt really strange. In fact I laughed when I read the suggestion you made, is he not smart enough to be a finance guru who starts to think illogically for that kind of thing. That is sometimes not all suggestions can be good to use and one of them is a suggestion like what your teacher said.

Home is the most valuable asset in life and everyone wants to be able to own it.
what you say is true, we don't know what will happen in the future with the health or finances we have and the house is the most important thing when we have nothing left.
the suggestion that it is better to rent a house than to buy is from those who do not have enough money to buy it, that is heresy. lol

there are some things that are better rented than bought, for the purpose of being economical, namely things or goods that are not always used / only needed at certain times.

   -     I'll just add to what you said mate, for me, if I were the only one to follow, I would prefer to buy a house and land that is secondhand or foreclosed because I can save more in this method.

Also, if you apply for the housing loan under the government, there are too many requirements that will be asked before you can qualify for this program, unlike the surplus houses, the approach is more practical for me.

It is not necessarily a waste as long as it brings benefits and convenience to your work and life. Nowadays, owning a house is extremely difficult for young people, so renting is a good solution when starting a business because we may have to move a lot to get a better job. That is not wasted.

The point of your teacher is that if you purchase a house, invest it in business or build one, and if your business is successful, you can use the profit from it to buy a house. Though others have no preference on buying a house as they cannot afford it, that is why they stay renting even if they know that it is really draining their money. They don't have a choice, so unless someone will give them a house they can live in, that would be good for them.

I don't know what country you live in, but this is a great government-funded loan program and I think you should definitely take advantage of it. A very low credit government support program was announced in my country a few months ago for first-time home buyers. However, I must state that the 75% interest-free loan is indisputably a much more advantageous opportunity.

If you buy your own house; you will avoid paying rent, your house will gain value as house prices increase every year due to inflation, you have the freedom to make changes in your house as you wish, you can leave your house as a legacy to your children. I think owning a home has more advantages than being a renter.

This is one of the most discussed topics of the last years. It actually depends on the economic situation in the country. Sometimes rents are low relative to inflation and salaries. Sometimes the house prices are so high that it's unreasonable to put all the money to a house. The situation is different in developed countries naturally, but in countries with fragile economies the situation may change depending on the conjuncture.
I agree that it's important to own a house, but if house prices and loan rates are very high you can live in rent instead of making such a long-term investment.

I agree. If you need to choose between buying a house and starting your own business, I will choose the latter first because it's a way of having a passive income. It's not wise to buy house then you don't have source of income or the location is far from where jobs are indemand.

Anyway, renting will only be a waste if you chose to rent even you're capable to buy your own house and won't struggle after doing so. We have our own reasoning and as long as it is valid on why you opted to rent instead of buying your own, then it's your choice.

I have seen businessmen in my country never buy or build there own houses rather they prefer investing that money in some business to get profit. That's how there cycle moves on since they consider buying a house like locking your money for an indefinite period of time. For businessmen living in rented house is first preference. Secondly if you don't have money then question of buying new house is ruled out.

Renting money is an ugly thing that we have to leave behind, it's impossible for us to rely too much on renting money, it's better to live simply and according to ability, the temptation to live a luxurious lifestyle does make anyone try to follow people who like to show off on social media, but we must understand that not all the things that other people do we can do.

Such a great question. There is no direct answer for this because the topic is entirely subjective on one's financial state. You have been forced to rent due to high costs due to inflationary pressure and other factors (that are entirely outside of your control, given your circumstances).

In the US Private Equity has done a full on rug pull on the housing market for the millennial generation and all generations before them. This is because they foresaw all of this coming. The collapsing of the banks, and all markets. They are smart, and ruthless, and it has always been their goal to make us their slaves.

I was fortunate to be ahead of the game and work hard in my early 20s to be able to afford a house 5 years ago. Now what I pay for my mortgage basically is what others are paying for rent living in an apartment. I hope to not come across as bragging, because I'm not. I'm glad that I listened to my wife because I wanted to continue to rent for the foreseeable future but was convinced otherwise, that and I wanted to make my wife happy.

Just know that you can overcome whatever the price is to buy whatever home you want, because today you're still breathing. You're blessed and your greatest assets are your heath and the ability to generate as much income as you possibly can overtime

What are you going on about? And what do you mean by renting money? Surely you must have meant renting apartments or houses.  One might be inclined to think you didn’t even read the topic or some of the replies gotten on the thread before jumping on it and adding your opinion.

I do agree with your point though. It’s better to live according to your ability and means and not going broke trying to live a luxurious fake lifestyle that’s bound to ruin you in the long run.
Also, we shouldn’t believe what we see on social media as most normal people(not rich celebrities)on social media tend to live a fake life. It can be depressing if you fall prey to the notion that peoples lives are better than yours with what you’re seeing on the gram.

In the long run, I think it's beneficial to own a home, but I recognize that not everyone is able to. The health of a nation's economy heavily influences the decision of whether to rent or buy. It's crucial to consider not only the current state of the economy, but also its potential evolution. For me, renting a place to live lacks the stability and security that comes with owning a home. But I understand that getting a mortgage and a down payment together may be a lot of work, especially for those who don't have a secure income. Do your homework and weigh your options before making such a major investment. Finally, home is more than simply four walls; it's how you decorate those walls that determines whether or not you feel at home there.

Yes, renting is a way the young entrepreneurs to start their businesses if they do not have enough funds at the start of their business journey. Getting rented houses or sometimes rented machinery may be extremely helpful.

Also, if you have a lot of extra resources, like land, plot, and shop you may put them on rent and can generate passive income. So it is a win-win situation for both of you, the one who receives rent and the one who acquires the object and pays the rent on it.

I believe that if you have extra resources and you do not lend them, then you are missing out on an opportunity to make extra income.

to decide which is better between renting a house or buying a house must be based on what type of work we are entering to make money. if it is a type of permanent job that might last for tens of years and even retirement, such as being a Civil Servant or an employee in the government. then of course buying a house is the best. but for those who have a non-permanent job or simply don't have a measurable long-term income, then renting may be a better choice. because it is possible that the person has to move if he changes jobs or changes jobs.

but when it comes to making a more mature financial decision for the future, it is indeed better to buy a house. if we don't have money then making a loan can be done. we borrow money to buy a house in cash and not in installments. because the price of a house that is paid directly will be cheaper than buying a house by means of a credit system.

Even if one day we have difficulty paying loan bills, we can just rent out a house or room in the house to someone. and we collect the money to pay loan installments.

because at least we already have a home. but if we continue to rent or rent a house, the rent that we spend every month will not make us have a house to live in at that time. and we just like keep giving money to the owner of the house we live in. then wouldn't it be better for us to make a loan of money and buy it for a house. and then we can rent out part of the house to pay off loan repayments that we have borrowed. but everything will indeed return to certain situations and conditions. because not all situations can do the same thing.

You've been with this very girl for over four good years and you guys have been loving together and even share utility bills and you guys are still also in a very serious relationship?
Mehhh I don't know what country you are but if is in my country, then I'm wifying her and I don't care what people have to say. But in the other hand, character also matters alot and from the tune at which I read this post, it seems there is something OP isn't ok with like character or something and since you guys aren't married yet, it isn't late yet to address this issue as truly communication matters alot in every relationship.
On the other hand, I barely would advise someone to take a loan in buying a house because I don't see reasons to do so but since the loan is an interest free one, then you shouldn't hesitate to get one if it can cover the cost of getting the two bedroom apartment you desire.

The thing we have to think about is that renting money will not make us rich, renting money is a wasteful thing that makes us have to immediately expand debt, rent money for things of value and invest so that the interest we have to pay can be covered from the profit when we get a profit from investment.

In location I live in Türkiye rents are above minimum wage. And many people (like %60-70 of whole country) lives on minimum wage. So its even more harsh condition here than some western countries. I tend to be libertarian of such issues and believe markets are capable to show it. But in a country with huge inflation even markets are in shock. I think OP has better standards cause nearly %0 rate credit given by bank is cool. I feel like banks should be encouraged to give low rate "rent only" credits to people to support them. Tax breaks and such given in return. (I dislike banks but I can't find any proper solution)
Rent is obviously waste of money. I wish all people could have parents to donate them a flat.

In fact, renting is an alternative to use when you can't afford a property. there are drawbacks and disadvantages of that. however, renting for primary needs is not included in the waste even though the best thing is to manage money to own your own property if you can afford it.
regarding bank loans, it depends on you, if you can afford it, maybe it can be better than continuing to rent. You might try to sell the apartment you own when you can't afford it anymore. however, the other alternative is that you try to find a cheap property, then collect a little money to buy a new property or maybe an apartment. However, there are many alternatives that you can choose from, it just depends on your circumstances.

Renting a house to live in to run a business is not in vain as long as it has a really clear function. But if you are able to buy a house in a very strategic place where that location is always filled with lots of people it is also very good because apart from being able to use it yourself it can also be rented out to other people who need it if someone has an old house that is still suitable for habitation.

So it's true as you said that in terms of housing it will never be redundant even if you don't use it yourself after you buy it, because it can still be used by other people in the form of a rental so I think these two solutions are equally good for young businessmen who are developing business at this moment.

Good communication to address this particular concern, as you think about it if you are serious with each other and you are renting place to stay that amount of money is almost same with the amount you need to paly when loaning a house.

If you are doubting each other then make sure to have a terms and condition a contract type in case something not good
happen to both of you and you decide to separate from each other , you can sell the property and let someone continue
paying it and share the money in an equal manner.

Renting is definitely not a waste of money. For me, it's apart of good planning. Usually people who choose to be independent start in renting a place temporarily then buy their own upon having enough savings. Also, there some people I know who don't prioritize having their own job and maintains renting an apartment because it 's more convenient for them.

It's understandable to have concerns about taking out a loan to purchase a property, especially if you're in a long-term relationship or uncertain about future job opportunities. Researching the housing market and consulting with a financial advisor can also be helpful in making an informed decision.

I think if you don't want to do that because of the first doubt then don't do it, we will never know that everyone can change, but instead of borrowing to take a house, it's better for you to invest first.
after benefiting from your investment then you buy a house for yourself and also I think this is effective to avoid your first worry earlier.

Renting is the best solution for workers from villages to cities, because they don't have enough money to buy it, and in my country to have a standard house, which the government provides through private companies, must have standard criteria, such as their salary in a city company , for $450 and must also be a permanent employee of the company. In addition, renting is lighter and with less financial responsibility and maintenance costs, as this is usually the responsibility of the landlord.

For me renting is waste of money - one should use the money in paying the down payment
have a small place of his own. I seriously believe in life having one's own independent place is so much comfort.

It depends on the user and how he manages the finance. When it comes to business location I find it to be waste of money based on a real experience that happened days back with my friend. He started his pharmaceutical business three years back on a rented location. Slowly things were on the positive side and in the early days of moving to next level. By now the property owner have requested to move as the agreement needs to be renewed every 11 months. Based on the agreement now third renewal period got over and owner have given three months time. Within that my friend needs to find new location and once again start his business. This will surely be problem and affect the growth of businesses.

Renting, in my opinion cannot be said to be the best solution for workers that live in the rural areas and come over to the city for work as some would find it more affordable and cheaper to commute from their homes in the rural areas to work in the city. A lot of people do this instead of going through the hassle of renting a place in the city that the rent alone would probably eat deep into your little income.

Also, I don’t think renting is as light on the tenant as you make it out to be. The landlord obviously has some obligations to keep the house convenient for living so does the tenant is responsible to keep the house as it was met. Also, the light, water bills are on you as the landlord would obviously not pay for the utilities of a tenant.
Renting isn’t the best solution as I think there is actually no best solution. People are just inclined to do whatever works for them.

Sometimes you might want to stay in that not-so-ideal home until you have been able to build up your finance to fund your own house. I know of a person that worked at a Bank and had a good paycheck but was staying in a one-room apartment and some of us thought he was not willing to spend money for himself but we later realize he was just staying there because he was building his own House which he currently stays, in fact, two of my friends actually lived this scenario.

Renting can be an inevitable waste of money to some to some persons and a prudent expenditure to some persons. For example someone who's trying to improve his life and relocate from rural settlement to urban city might not have the financial strength to outrightly buy a house and because shelter is a basic necessity for him, renting an apartment will be a wise decision. While there are people who has been living in the city for a long time and where able to generate good amount of money and are still engaged in businesses or formal jobs that are fetching them good amount of money and with there financial strength can either buy or build a house when planned well but has continued to to pay rents every year. The later set of people are wasting money that isn't inevitable to waste

If we rent a place to live, of course, it has become a basic need that we must fulfill, although renting is indeed a waste that we must go through, but besides we rent we must have a target to make a savings to be able to buy our own house, because renting a place to live for a long time is certainly not what we want, then we must be able to live reasonably in the place we have rented because not all places we rent can be comfortable for sure There are many shortcomings, and all need a process to be able to have their own place.

I think indeed when we don't set a target for how long we rent and how much to save for the next step it is a waste, and the rental must also be adjusted according to ability, the rental price may have to be 10-20% of one month's work income, if we have careful financial planning and if we don't limit the price of renting a house so that and use a house that consumes a lot of money I don't think it's natural and in my opinion it's an inevitable waste of renting a house, renting a house should not fulfill the plan standard style needs but in accordance with the price limits that are made, so that you have enough money to save and can buy a house faster.

The surprising answer can be no as rent or lease can be cheaper then fully deploying cash.  I've been looking at this question recently on a car lease vs hire question and because of depreciation it can make sense not to commit to an asset which has depreciation in it.  Houses have some positive bias but also costs and at times depreciation over many years due to over priced markets.
  Its impossible to say either route is incorrect, it will depend on pricing but also the performance of your cash elsewhere during this time.  Many businesses will never own the property they use.

This is true since, for instance in our country, renting is the first choice for a common family since it is really costly to buy a lot and or house or property. This is paired with low minimum wages that results to incapability of most people to invest in housing. So, they really have no choice but to rent. But personally, I think renting is somehow waste of money since you are paying your stay only not the property that eventually goes into your name. So, it really depends on your mindset to whether see it as a good or bad thing.

I agree renting is an inevitable waste of money but for living we need it especially you dont have any property. Maybe you can live with your parents, while you working save some money and buy small house. I dont know how much cost of house in your country but mine is about $16k for small house.

I think it depends on how urgent the need is, if we go to a new area and we need quite a long time to live there, for example we move to a new workplace, of course this is a very appropriate solution for us to rent a house instead of having to buy a new house.
but if the case is different, for example we rent a car or something that we don't really need, of course this is not very good for our finances, this is where it is a waste.

Most people borrow money just for fun and lifestyle trends like buying new gadgets, new cars and so on, I have a friend who always keeps abreast of the latest gadgets, because he doesn't have enough money, he borrows in online applications, by having the latest mobile phone it seems make him feel happy.

Exactly, depends from the situation and how will you maximize your finances, if it's really needed to rent as for what you mentioned then it will not fall to a waste or a practical approach for the situation.

But if we can buy or loan a house that we decided to permanently use then it's better to take that road
instead of renting which will never be yours.

Do you know that there are people that borrrow money to buy house and still make big profits from the housing? This is noy like the business for an average person, there are some companies that borrow money to their capital to buy or build house and resell it because in urban areas, it is not everyone that like building a house from scratch since some of them don't have time for inspection, this is the job of this company, they buy or build and sell for another person and the profit they make are good enough as investment, I think investment depends on how you view it.

If you find the right mix, renting can be a very valuable aid and work out quite well. When you're young it gives you a huge amount of flexibility, which can be very useful as you figure out where your career is going and whether you need to be in a certain location to maximize your salary potential. If you're jumping around every 2-3 years making your way up the ladder, being tied to a geographical location while you pay it off could actually reduce your lifetime earning potential. You can also use that flexibility to increase the gap between your bills and the eventual deposit that you might accrue towards a house purchase in the long run, if you commute into New York from the suburbs and earn a mega salary - it opens up huge possibilities for relocation in future.

Aspect house rent is something that a grown-up adult how to cut shoulder d o w n so that it can be able to have it own structure in the future,  because I have seen that why people do any other projects is because of when they are living in a apartment that is not cordial or apartment that' will make them not to have saves for rising their own structure

well of course if we are in a financial condition that can only afford to rent a place to live then it will indeed be a waste that we cannot avoid. but we can minimize this waste by looking for a house that can be rented at a lower price. can be done by renting a place to live a little far from the city. because the cost of rent in urban areas is much higher than in suburban areas. but at least we also have to adjust it to the distance that doesn't make it difficult for us to get to work. but if the person works at home like a freelancer. then I think wherever is fine.

Further savings steps can be taken in managing the cost of everyday life to be more effective. such as avoiding unnecessary expenses. so that we can still save and invest to buy a house in the future. because renting a place to live for too long will only make us trapped in a financial condition that is not progressing. so if we are forced to rent, then we have to be more economical in our daily lives so that we can save and invest to buy a house someday.

Renting makes sense if you are moving from one place to another or you do not have stability for any reason. Otherwise is, in general, and that may change with the markets and the crisis, to buy getting a mortgage if the interest rates are reasonable and if you have a reasonable expectation of continuity in your income.

Also, if you have children, it is usually a good idea to have "roots" in a place. They appreciate that stability in the early years.

Home is a place where someone can rest after a hard day. So, Flat Ownership is very necessary. On the other hand, paying rent on a house is very difficult. Because, inflation is the reason for high house rental prices. Otherwise, renting or buying a home with a loan is stressful and there is no guarantee of surviving the future loan term. Even paying the high borrowing costs is a difficult matter.

you do not understand / can feel how the condition of a small person like me. In the village, I do whatever work so that my family can eat everyday. In the village, getting a job in a company is very, very difficult with the current conditions. Incidentally a relative / friend asked me to work in the city, with a salary less than the city standard. With my condition far from my family and in order to change the family's economy, I am willing to rent a residence where I live which is not far from the company I work for. Indeed, in renting a house we have to take care of it. There is no other way for me, I don't agree with renting something that is a waste.

I understand that you are in a difficult situation, and it can be difficult to make ends meet, especially when living in a village with limited job opportunities. It's understandable that you would want to take every opportunity you can to improve your family's economic situation.

Renting a house can be a responsible decision if it helps you stay close to work and provide for your family. However, one thing on record for me and/or anyone else is that financial stability is very important, and you need to make responsible decisions to ensure long-term family well-being.

You need to consider those factors to save some and not to completely waste your money if there's no way for you to purchase or loan your own house, renting if un-avoidable you should maximize your finances.

I like that idea to rent far from the city if you can use to live on that kind of place, it will be much
cheaper and the cost of living is far lesser compared to how it cost when you are residing in the city.

the conditions you say like this are very reasonable if you rent, if you work out of town,
My only suggestion is if you are already a permanent employee, take your family with you to the city, so that there is no division of money between your family and your life in the city.
little by little you can collect money and collect this money you can take subsidized housing from the government

I wholeheartedly agree and respect your opinion on renting a place that’s much closer to your place of work than having to commute from your village.
Understandably, getting a job in the village with an organization that’s located in the city would be very difficult as most employers would want their employees within reach at most times.

Fortunately for you, you’ve landed a job in the city. While it pays less than city standards, it definitely wouldn’t be the same rate you get for jobs back in the village. If it isn’t, you would not be so willing on renting.
Perhaps you might consider having a roommate. That could help reduce costs and improve on your savings.

That is also a wise decision to make since you can share the expenses along with your roommate, but before you consider someone to be your roommate, just make sure that he/she can be trusted.

Getting a job in a city while renting a room is very hard specially when your wage is below the minimum city's wage? you will have a hard time making money to send to your family since you also need a bit of money for yourself because food expense in the city alone is quite expensive. I had experience this kind of job too, and yes, we are also in a similar situation where I need to leave from my hometown to work the opportunity given to me by my uncle, sad to say my uncle died 2 years after and that his wife started physically abusing and mistreating us, so I went back to my hometown which is also my current address now.

The most important things when we go abroad are food and room rent. a little experience from me at that time renting a room for 2 people so that the burden was borne by both of us, on the other hand when eating we cooked ourselves, so this could reduce expenses. on the other hand, with the little money we have left, of course we think about investing or saving, so that later there will be an increase in the economy, or we can open a side business, so that life does not just stagnate

In times like this, both renting and acquiring a mortgage loan is a waste of money. In the past, the wiser move would have been acquiring a mortgage over renting, as you are paying off an asset....but now, during a time where we are potentially entering a long-term economic crisis, interest rates are likely to continue to sky rocket and getting a mortgage could be a one-way ticket to the demise of your wealth. Renting might be the next best option. I believe buying a mobile home outright, home sharing by rent or by group-purchasing a home are the best options in this economic climate.

Renting an apartment is also a very good choice because it can also be a temporary alternative for a place to live before someone has their own house and it's also not a waste because usually the rent per year is always cheaper than the rent per week. But for me personally it's always more comfortable to have my own house because I just want to live with my family without the burden of rent, although renting an apartment isn't such a bad thing to do either.

This of course differs from one person to another. You could say it's better for you, but of course you can't guarantee someone is also good for considering it. It all depends on the economic conditions of each, the jobs they have and the salary they earn. There are those who prefer to rent, there are those who will choose mortgages, they can also buy it in cash and of course it has to be adjusted to their respective economic conditions.

If it were me, I'd be more likely to rent while saving enough cash to buy it for cash or build it instead of a mortgage, which are options that suit my economy conditions.

Only those that have been or are in your shoes can really relate to he reality of what you OP is facing now and it's really hard to tell where the next best decision lies. Some people are so fortunate to have ancestors that left them a great property like a house and they end up throwing that away by gambling it away for obvious irresponsible and reckless behaviors.
Renting does renders ones efforts to be rendered fruitless cause it's all like all your hustling for is to just fix another's pocket at the end of the money or year by paying off your rent. It's a hard situation actually.

The habit of renting money is a bad thing that must be abandoned immediately, renting money is a waste of time and wasteful because we have to pay interest, this is what makes us have to think and immediately take productive actions, for example looking for other income alternatives.

When it comes renting an apartment versus buying a house in my opinion is not a waste of money for a number of reasons. One of them may be that you are still a young who may not have the money to buy a house.
Another reason why it can also be why people would rather rent than purchase a home may be because they do not have a big family and do not need that many rooms. Purchasing a home, at the wrong time can also be costly for the buyer who can find it difficult to make their mortgage payments on time.
This is why they recommend starting to save money so that when the time comes to make a big purchase you will have enough to put down 10% on the home you are looking to buy. Renting an apartment may be the only option for some and for others a temporary place to live. It is always nice to know that you can live anywhere and just pack up and move.

actually, it's okay to rent if it's an emergency. like we really don't have a place to live or anything important. however, there needs to be an alternative to that, to get us out of that situation. for example, we need to save a few percent of our salary to buy these necessities so we don't have to rent them again. renting may not be called a waste of money because it is our primary need. we really need that. however, it does need a change. sooner or later.

I support this statement, only those who are experiencing it right now who can confirm the needs and how they really aiming to own their house but because of lack of capability the only option is to rent.

A waste because even you pay for your bills each month, the house will remain as the owner's
property and will never be yours.

But for those who don't have any option, renting is the only thing that they can afford.

It all depends on what works for you actually. I believe buying a house means you want to stay there permanently or at least for a very long time. It also still depends on the country you leave in. In some countries its very difficult for get a mortgage loan so they have to buy the house outright or pay by installment to the real estate company.  If you leave in that kind of country it would be way better to rent. In some countries people save money to build their own houses. This takes time but its better because by the time you have a family you'll have a house of your own.

So I don't see any of them as a waste of money because it a place where you'll live. Yea, Inflation makes things too difficult for people right now but you'll do what works for you. As for me I still rent but the goal is to get your my own home someday.

I've been through what you've been through. It can be said that renting a house when going to the city to start a business is the only option, we don't have a choice, let alone whether it's a good or bad solution, and I don't consider it a waste. For a worker in a third world country, it is impossible to accumulate money to buy a house unless we have other sources of income, so it can be said that renting is mandatory.

I am fortunate to have only left my hometown for 3 years to start a business, but many of my friends have not been able to return to their hometown and have had to rent houses for 10 years. Many say that if they don't rent, they can buy a house with that money in 10 years. But I want to ask that in those 10 years, if they don't rent a house, where will their family live?

Except you are a fraud who steals other peoples accounts. Good job you are stuck in India. What a cesspit country.

Their future economic situation depends on various factors and at that before ops should take any long-term decision such as acquiring a property with the girlfriend he is not certain of being with in the future should be something he needs to avoid from now because this may result in many things that both ops and everyone involved may not like the future outcome.

-taking a loan to purchase a property may not be the right thing to do, but then again we may see a couple of reasons why that may happen e.g getting a new job or having a baby that needs extra room.

when you have no option than renting is the only option remaining.
But when you are talented and have small space try to build your cottage.

The main argument for renting vs buying a house or apartment is that you don't lock yourself down in one place. In my country it has become quite common for people to change their job frequently, a good friend of mine for example lived in 3 different countries over the last 8 years. Owning an apartment in such a case would make it much more difficult to switch cities and accepting a new job. Renting instead of owning gives us a lot of flexibility and also is less cost that we need to pay each month. When buying an apartment or house it involves usually 80% of borrowed money which can take a very long time to pay back. Especially now in times of inflation rates of 10% the borrowing cost can increase quite a lot down the road. It can take 30 years to pay off one house and is going to put a lot of constraints on us.

Renting money is of course a common thing in life, the presence of an online loan application makes it easy to borrow, but we must understand that renting money is something that can mess up long-term financial plans, if there is no urgent need then avoid taking a loan .

not really, some say renting a house is better than buying a house in installments, because the interest in some countries is very high, I see interest in my country is very high, but people still buy houses on installments, they think that they are afraid of losing opportunities because the population is increasing, even though house prices are very expensive, not everyone can buy a house easily.

Exactly owning your home is the best form of decision anyone can make and as a matter of fact, those who rent have no stability because the rent is reviewed at a fast interval and before you such out some other personal issues and pay bills you discover you have nothing left.

-It will look as if you just working to pay house bills, but when you have a space to build your structure then it is best advised to do so no matter what the cost is

We have to limit the time to rent a house because after calculating all the costs of renting a house for years it has reached the price of almost a simple house, we have to have a target of living in a rented house for no more than 3 years and work harder to save to buy a house, so you have to work extra to increase your savings and do any business according to your basics to get a high income.

That's reality, if possible to loan then better to do it instead of keep renting if you are planning to stay in such particular place for good, though it's un-avoidable since renting is the only option for those who don't have savings to buy a house.

They need shelter to stay and even it's just a rented house they will go for it and try to survive,
save and try to work with your opportunity to stop renting and start owning your house.

No matter how hard it is on my end, even to the point that I got sick, I still can't afford to buy a house. We don't rent, but we do share bills, and we also can't call it our house, which is also my goal. 5 years ago, we wanted to own our own house, but even with two jobs and a side hustle, we couldn't do it. No matter how hard you work and save money, there are times when you will spend it on an emergency. That is why I decided three years ago to have an installment land contract, and that is my plan to build a simple house if I've got enough money.

Thank you for the advice and input friends and for motivating me to get out of this difficult time, I will apply the suggestions from friends in the future.

I used to have to work far away and stay in a rented house for 4 years. Because I am a worker, I have been looking for a cheap house to rent, the cost is about 50-60$/month, if calculated for 4 years, it is about 3000$. Meanwhile, to own a real estate in the city where I work will cost a few tens to several hundred thousand dollars, and with the salary of workers, even if you pay in installments, it will never be paid off. Not to mention you also have to send money back home to your family. It's easy to say because no one wants to stay in a rented house or have to work as an employee, but when you're in that situation, you'll understand it's not as easy as you say.

Renting money is a habit that people do when they feel they have a need but don't have money, under certain conditions we need renting money, but after we get older and understand life then it's time to make the best financial preparations.

well , although this seems simple question,but actually kinda difficult to answer. First, we must know what exact goal, me personal seems have a luck to get free house from my death parents, luckly this house have insurance so i get this full free after they gone, but if u ask do u will renting if that what i say before never happen ? ofc, i will rent, i live in capital town,everything is expensive, eventhough there are people who want to sell their house cheaply, instead of living there, i just buy it and rented it,since my goal will back to my hometown and getting old there.

The most common reason why people choose to rent is because they do not have the ability to buy and build their own residence, so the most ideal option is to rent. In the country where I live, there has been a subsidized housing program from the government in collaboration with the Bank and this has been going on for almost 10 years or so.

The only worry when you try to take this opportunity is not having a backup plan to cover the monthly expenses when they are due, which is why loans in this form will not look friendly to people who do not have stable financial capabilities. I believe there are consequences when a monthly fee is due you can't pay, especially if it goes on for nearly 15 years. We never know how our lives will be 10 years from now, if financial ability only refers to this income, not to mention when we have bad luck and are fired from work.

I try to summarize the experience that I did ?

• Still living in a rented house or parents' house, but trying to increase the amount of savings and investing. I choose bitcoin for long term investment because it is reliable in keeping value.

• Make a target timeframe for building your own house, even though you have to start with a simple way.

• Calculation of investment in bitcoins regularly and continue to collect until the target is reached.

• If the target goes according to our expectations, then building or buying will be much more profitable than taking loan opportunities or repaying for the duration that you convey to buy a house.

As stated above online money and instant loans have changed the life of the poeple altogether

great point mentioned - when you have your own home you decorate it with love. But sometime you are not destined to live in that house for long.
You shift to the new place and start all over again. Then you start paying rent and maintenance from scratch

renting is something that is inevitable in life, in today's difficult situation of finding a job

Renting money is currently a fast solution for everyone, this makes a consumptive and wasteful mindset, it's time for us to think about doing creative things and be able to make money, not just relying on renting money.

when you don't have enough saving to get a house then there is no option but to payoff the rent.
But there are smart people who know how to get rent from their property while they are also renting. They are the smartest people

in the view of some people maybe they are better off buying a house on credit and paying for it over 10-20 years.
than that I prefer to build my own house and rent it first.
because the money you spent for those 20 years, you can use it to buy 2 houses at once.
you just need to patience.

These advantages will be relevant if you are talking about renting, if it is possible to buy a home without a loan, then everything will be a little different. Monthly payments will be smaller, it will only be utility bills, and in the event of a move, you can sell housing, although in this case, if the sale is urgent, you will most likely have to lose a little in price in order to sell quickly.

But then you will have money to buy a home in a new place where you will move. Although if I had to change my place of residence so often, I would definitely not think about buying a home, I would rent it. At the same time, you also need to take into account working conditions and wages, how profitable it all is.

Currently there are many services and conveniences for rating money, only with an identity card capital so we can get a loan without collateral with a repayment period of up to 2 years, and of course, easy loans have risks, namely very high interest of up to 100% in a year.

a good idea actually it's better to buy your own house or build your own house than having to rent for a long time, continuing to rent is very wasteful in my opinion.
But the big problem with building a house and buying a house is having to have cash, and most people don't have it unless they save or plan ahead.
but if you are someone who has a monthly income then you better take a big loan from a bank to build your house, and you can pay it every month

Yeah if you have enough salary then you can go on it and take your loan, it's better to pay for something that you'll going to expect to be your own property unlike with renting where you will be paying non-stop.

You will continue paying as long as you need the place, but it will never be considered as your own properties,
where the big advantage when you own your house, you can consider it as good collateral when you need to
take loan for possible investment.

Risk is something that definitely exists, and every easy thing also has its own conditions in it so that everyone who takes a loan needs to understand and comply with the rules so that they avoid risks they don't want. And if someone needs a loan and can use their personal identity card for that, then don't think too much about the benefits that can be obtained by those who serve you in providing loans. Because lenders are always aiming for profits through the services they provide.

That's a big decision for you to buy a house and by taking a loan adds extra pressure on you. As you mentioned you have less trust in the longevity of your relationship so I think you are afraid to buy a permanent house by taking a loan and you are afraid to have to cover all these loans by yourself. If that's the case then you should eliminate this uncertainty about the longevity of the relationship. As all, I can say talk with your partner and ask her/his opinions and share your idea of buying a house together.

Further, the amount you told of rent is high as compared to our country like here the rent for a whole house having two to four rooms with Washroom could range from $50 to $100. which is not that much. Before making a permanent house you should clear your to mind about what use it will be after you, like if you are planning a family having kids then go on and make that house because in future that will be an asset for your upcoming generation for which they will praise you because future has its own problems that could make economic conditions more bad but now as you said, you are getting some interest covering schemes than you should buy it.

If you are not planning for a family then it's ok to live a loan-free life because taking a loan and giving huge interest on it becomes a neck noose for you. This was my thinking but the decision is your own plus I am not in favor of taking interest base loans, like when we made a house we ask for loans from relatives and friends (interest-free). You may get fewer loans by this but it's tension free.

Still, in some cases, rent is quite justified. Registration in the property is quite a big expense, as well as certain risks. Economically sound renting allows you to run many businesses at the same time, save money for the purchase of a permanent home, and also gives you freedom of movement.

Mathematical calculations like that, friend, why not take out a loan to buy a place to live instead of having to spend money every month to pay rent. Isn't that what always crosses your mind?
If you want to take out a loan, what is the collateral? lenders (banks or other lending institutions will not simply disburse money without collateral). Borrowing money from moneylenders is not a good idea, especially in large amounts. It's like killing yourself because besides having to pay monthly installments, the interest is very high.

Wanting to have a private residence is a good idea, you should start from now by setting aside some money from your monthly income. Your concern about the three points above will increasingly make you trapped in a situation, you have to take a stand. As a man, you have an important role to play in providing a decent life for your spouse and children. Keep going, then take a stand after getting the best decision.

On that note, I will agree with your statement as it will really bring flexibility in terms of movement and if you are a business minded person, you'll on the money to put into investment and to grow it while you still have a chance.

If you are not aiming for long-term stay and you are aiming for wider opportunities, that might be on
the business or on the investment sides, then so be it. You can proceed and make your way to
continue renting while aiming for good investment opportunities.

Renting money is something that can make our minds lazy, it's easy to borrow money so it makes it too easy for us to get into debt, but we must realize that by getting into debt, we have to pay interest which of course this is a loss, unless we rent money for productive things or investment.

if we have settled in an area and have a job in that place too, then it would be better to have our own place to live, so we don't pay monthly or yearly rent, which of course feels like wasting money. but if our jobs change, of course it will be more practical to rent, especially if it is an installment loan, of course it is less practical, where the installments have not been completed, but we move work assignments elsewhere. so I think it depends on the situation and conditions

From what I have experienced when lending money to a lending institution, they will offer us with easy terms and various kinds of loans in a persuasive way, but in persuasion to lend us bound by high interest rates. this is what I call high interest risk.

But there are moments and situations in life which will give you no choice but to deal up with those high interest rate which this is the sad part of reality on which people having no choice but to deal with it specially
when you are really badly in need.This is why we cant really just tell someone that its a bad choice and its impossible that they arent aware of those numbers but due to some certain conditions as i do speak off
then we dont know on whats their story behind.

In talks about renting is a waste of money then we cant totally tell about it 100% because there are people who couldnt afford on building a house or making one.This is why we do end up
on this option on renting for the time being.

Nobody will ever have the chance to own a home that they will not be pleased with it, because it is a valuable asset and in my opinion, an investment that is likely to grow in value in future, and once you own a home, you will have a wonderful chance. Some people may opt to rent a home because they cannot afford to buy one or build Due to the high cost of housing in my nation, I would prefer to own a home over continuing to pay rent. I believe that getting a home would be preferable to continuing to pay that rent because if I may continuing paying rents, I may later discovered that those rents payments would have get a house.

If we make a calculation on the average lifespan of us and differentiate the spending for a own house as well as a renting we'll see the calculations to be high with renting than owning a house. In some other prospects that we use a huge amount at a same time whereas with renting the amount gets divided and will be paid for years. This won't disturb the financial stability much. There'll be good and bad, it gives the best outcome based on the way we consider the need.

High interest is an advantage for those who give loans to other people and that is their right to get it because they have given you the money that you really need at that time so they make easy conditions so that everyone can easily take loans on the spot they. Even though you say part of the interest is a risk that you have to bear while you pay off the loan, it is their right to make obligations to borrowers. That's why everyone should think several times before taking any loan.

Renting is definitely a waste of money but if you don't have a place to live what is the other option. Everyone is not that creative to create a small cabin.
If you are not smart to have a small cabin of your own then definitely you have to pay rent

It needs courage and will to change your future
When you are wiser to save some money - you do it religiously

It's a very sad anyway, just as me well I couldn't inherited any house from parents (father) before he died and I have been living in a rented apartment for the past 10 years and luckily started getting my own personal house in a city close to my village. I know it's very hard to grow without one inheriting any thing from parents.
There's something you must learn, I am not against you having a girlfriend but it should be you have your feet dusted before keeping any relationship; just as I have done, I never have any relationship between age 18 to 25 year why because I know that is a challenging time for me to seat up and breakout from whatever that may holds me not getting to my destinations.
Keeping a woman around may either increase your income or decrease your income but in a way you noticed is not favorable to you then limit and a make change and raised some funds to develop yourself.

People are getting smarter and they are saving their money - by living in their vans
Life is good when you are on the move all the time. I dont like my neighbours because we have purchased the house and there is no chance any of us are going away from this place.

That is correct - in both case - keeping a women and man ( who doesn't like paying the bill at the restaurant ) is very expensive.
I have always such kind of people around me - the friends were loser too and then the person who came in my life was a loser too

Rental housing will be convenient for those who often move, or perhaps have not yet decided where they want to live. Many different situations can force people to rent a house, so it is convenient for someone to buy a house, and for someone it will be more convenient to rent it during this period. Probably everyone would like to have their own house, which is why many settle for mortgages that they pay for twenty or thirty years.

Rental housing has been in demand at all times, and most likely it will be so, for some, this is an unnecessary expense, and for some, a forced necessity.

Smiles..
Then you don't have to keep any if that is the case because there are some sets of people who don't always giving our money for their bills aren't the people to associate because they only needs what would come from you and not them.

Yes, aside from those who really can't afford to buy their own house, renting is the only option for people who are still undecided where to stay and how they wanted to live their life for good.

I mean, if you are not permanent yet and you are planning either to go outside your country or
you are planning to move from one city to another. Renting is the only option you have while
trying to decide.

It is universally believed that, after food, shelter is the second most crucial human necessity. Housing in all its forms encompasses together all social services and utilities that go into creating a livable community or neighborhood, therefore this goes beyond only providing a place to sleep. Because housing is a crucial and vital part of overall development processes in both rural and urban areas of Nigeria, efficient home design continues to grow increasingly important.

Everybody needs a roof over their heads, making shelter one of life's most essential necessities. But, not everyone can afford a home, leaving them with little choice but to rent one. so to me, rent is not a waste of money at all.

Don't be too comfortable renting f om others, always make pursuit to het yiur own no matter how hard you just need to keep striking hard, those that leverage you on their property will never pray that you got that insight to get your own and be free from renting because they are making good money out of what they offer you, everything takes sacrifice and determination, if we think about the advantages, we will definitely make ace on being independent.

Some people are smart to get loan and earn profit on it.
People are getting smarter with the passage of time - - they are building their houses in the buses and vans and they are making wooden cottages to save rental

renting is not a bad/wasteful action!!

learn from my experience, if you are young and want privacy with your partner (away from parents) but want to live in the middle of a city, then renting an apartment or small house is what you have to do, while you both continue to work hard and collect money little by little until you can afford to buy your own house.

in the OP, I see a lot of things that you worry about, it's very humane!!

at least you have the courage to do that because we all know, life is a (gamble)

If I would have a chance I would build my own cottage by the wood and will live there.
I don't like the house made of bricks and cement. I like greenery around and small beautiful place where I can live in complete peace out from the humdrum of the urban area

Living independently from our own income makes us proud, your struggle is now producing things that family members never thought of, don't blame your parents for not giving an inheritance, they have given the best for you, especially education.

Yup, it's you now to dream and achieve whatever you desire that your parents are unable to provide, with education or with the life they provide to you is enough for you to try your best to make your dreams come true.

In terms of renting, for now, yes, it's a waste, but if given a chance, better to take advantage if opportunity
to own a house come up to you, takes everything and hopes for the best that you can in making it your asset.

Achieving it is the main purpose why I am serious focused and one could only do it if he limits himself from all sort of unnecessary expenses and reduce some friendship just op said earlier and it could be hard while keeping lot of load around him why because it will contribute to much distraction without one remaining focused as he is. You have to smart and remain clever on how you uses your money.

no one is to be blamed in life and we are responsible for whatever happens in this life.
Having a steady income and being able to achieve your desires or needs in life is a matter of pride for yourself or even your family, but not everyone is able to do that.
sometimes there are people who have little income and because they cannot afford to buy necessities in life, they are forced to rent it.
we should not blame the people who rent important necessities in life, maybe they do so because of compulsion.

and but the point is if you want to live quietly and have many things is by working harder, crossing your own limits to reach what you want to achieve, we will also be able to be like other people.

This is indeed true and it would be very wrong if there were parents who did not provide education for their children when their children were young, even though sometimes the parents were only able to provide a small level of education for their children. But it will also be better because the child can have a good basis to make himself grow through the things he likes.

So there really is no reason to blame the family and parents if they are unable to provide a large inheritance for a child, even though that is also part of the responsibility of the parents themselves, but basically the child also has the responsibility to earn income independently for herself.

I don't think our parents must leave or provide an inheritance, it is not their responsibility. They have spent their youth raising us, for that alone we can never repay, let alone when they die they are responsible for leaving us wealth. They can build it all by themselves and take care of us, there is no reason why we can't do better than them when we are better educated and have better living conditions than them.

My parents came from a very poor background, but they raised me and gave me a good education. For me, they have fulfilled their parental duty. For the rest of my life, I will go alone without relying on them anymore. My parents had a valuable property, but I never needed it, they worked hard to get it, and I will be like them, I will build everything for myself.

Life is a struggle - you keep struggling and then you just leave all the belonging - finding someone who would take care of the things and leave the world for God.
I just watch my name is OTTO, and his life was a struggle and late he was distributing everything to all the good people around. So I don't think renting is a waste of money - if you have some resources you can rent a house and keep moving to a better place.

There’s nothing wrong with renting, it’s harder than ever to get on the property ladder. I’m in my 20’s & it’s hard to get together the big down payment to start with. Mortgage financing is harder than ever. Sure renting is paying somebody else’s bills but what option do we have in the current climate.

I am currently saving hard to get the down payment to buy my first home. I will get there eventually but it is really tough. Hopefully my crypto investments can help me in the next cycle, I feel like I am well positioned there.

If you focused yourself on such goal and not to allow your lust to overspend your money into something that will bypass your intention to save your money for your future goal owning a house.

It will help you to grow your savings and if you are also keen in finding ways or to explore for other potential
investment that will help to increase the amount of your savings, then maybe the chance to have or to own
a house and to prevent renting is achievable.

I have a foot in both sides of owning and renting. On the one hand I own and rent out and on the other hand I rent to stay in. Unfortunately in the country where I own, interest rates are high and almost impossible to buy, but even with that the rental is roughly 60% of the bond payment. I have made a big mistake in the past by selling a property that today I would have laughed at how low the bond payment would have been.

Personally I think a person's goal should be to own a property and if in the privileged position to do that to hold onto the property if you can. From my mistakes in the past my choice would always be to (1) buy and (2) to rent, in that order. If you cannot make that happen and can make no plans to own a property then it is what it is and rental is the last resort.

As a young striving man whom is putting every efforts to change his or her story, I don't think they should focused after lust because of their ambition. It's advisable to stay away from every unwanted relationship or friendship that would not yield any meaningful thing to their lives, and if a man is eager to make wealth they always utilizes every single opportunity that comes towards them. At this point he may decides to own a house or even freely pay his rents without much load or responsibility aside having a lover or living extravagant life.

And make it as a motivation to strive more and earn more money so that you and your parents would be out in poverty. I know coming from rich parents could brought to you easy life but you can't learn valuable lessons from it unlike building your own empire and inherited by your child which you will know tons of experience along the way. It is not easy but you can find the true meaning of life from that journey

I don't see anything sad about not inheriting from parents. Currently, I am married but still live with my parents, and I know that house will be mine in the future. But honestly, I told my mom that I didn't need their house. I thought, my parents could work to buy a home, and there was no reason I couldn't do the same.

They are farmers, have little education and they can also work hard to be able to buy a house. While we are given high education by them and have stable jobs, there is no reason why we can't buy a house of our own. I want to be able to buy my own house and car and I will teach my children that, I will not give them anything when I die.

I agree. Due to the lack of a well-established mortgage system with acceptable interest rates and long-term contracts, renting is sometimes more inexpensive than buying a home in several nations, including mine. However, in other nations, like Scotland, paying a monthly mortgage may be more affordable than paying a monthly rent in the same place, making it a viable choice. To decide whether to rent or buy a house, it is important to research the situation and deals of the country you are in as well as the security and dependability of mortgages.

It depends on the situation in which the person is, but I think that everyone would like to have their own home, so everyone eventually thinks about buying their own home. If the loan conditions allow you to buy a home with a small overpayment, then this will be a completely acceptable option, but if you have to overpay very high interest on the loan, then this will not be profitable and may not be affordable for everyone. Often you have to pay off a loan for housing for 20-30 years, so you should think carefully about whether you want to move to live in another place during this time.

Renting a house on average has been experienced by every human being who has a mediocre economic income, but that doesn't mean that every money we spend every month/year is an act of waste, many people who rent a place to live are forward-thinking for their future.

By renting a house someone can think of working hard to earn their economy, they think it is impossible forever we live in a state of living in a rented place, a lot can be done for €25,000.
Example:
If you spend €25,000 in 6 years, that means you spend €347/month in 72 months=6 years.
If, you are thinking of looking for a credit house with installments of €347/month in 6 years, maybe you should do it, in my opinion, a simple type of house can already be with installments of that size, automatically within 6 years you already have your own home, if you think rent is wasteful.

And most of those who managed to succeed from this desire are those who choose their dreams first and not to follow the lust, as they understand that they needed to focus well in order to succeed.

You have to set your priorities if you don't want to waste your money in keep renting, better to save
and start looking for a good way to loan your own house and limit your expenses to pay it in whatever
deal you've got.

Renting is really wasting money if you only rent then nothing is left on you at the end, in my country there are houses or company that has a rent to own program you will rent thier house for a couple of years and after that you will own that houses which is very good deal but expect that the price is more expensive than a normal house price, because that was also thier business they need to have a profit on it but it helps a lot specially to those who cant afford to build or buy in cash basis.

Renting something if not to open a certain business will obviously be very detrimental. Because if it's only for a place to live, in the neighborhood where I live now there is a credit system for those who can't afford to buy a house in cash for a certain period of time. And I think this is a very wise choice because they can pay off their credit every month until everything is paid off, because some people who have taken home loans for their residence are also not that difficult to pay off their credit every month.

Now many houses available for any size can be purchased at a more affordable price than paying rent for a house every year but you never own the house, if you don't pay the next year's rent then you have to return the house keys to the owner, so it's better to buy a house for the future credit over 5 years to get low repayment costs, but if you have income then you can apply for a home loan purchase under 5 years to have a home ownership certificate.

Here in our country on which those housing developers do offer their houses even on the cheapest one isnt something that could be get by an average worker plus it does really still require lots of paperworks and something in related which its understandable since its a non cheap business where occupants and buyers should really be that something eligible on getting some unit and not really just that good for few months
until they couldnt be able to pay up their mortgage. No matter how small it would be, the interest and long term payment is something that would really be hindering you on finishing it out in the end of the line.
This is why most people doesnt have no choice but to pay up and look for some rented house.

I have also considered this suggestion before because I am currently looking for a new home for a more comfortable place to live, so at this point I am also starting to think about several options so that in the end I can get a house and make it my own. But on the one hand, I'm not the type of person who likes credit, so that's what still hinders me from making decisions at this time, even though when I digest it myself, suggestions like what you said have a point to do.

It depends on your financial situation, lifestyle and long term goals. If you plan to stay in a particular location for a short period of time, renting can be a cost effective option compared to buying a house. Renting also provides flexibility and freedom to move without the burden of selling a property. If you plan to stay in a location for an extended period, buying a house may be a better investment option. Owning a house has the potential to build equity and provide long term financial benefits. Owning a house can provide stability and sense of ownership that renting cannot. It is hard to weigh the pros and cons of renting versus buying and consider your financial goals before making any decision. It would really depend on you on what is your target goal.

There are still people who think renting is far better than just buying properties or real estate. However buying them has got a plus point in the long terms and that’s increasing valuation for those properties.  The value of land, house, shop, or basically any solid state property would always rise with the time because of the demand and supply circulation. Over the period of time population would grow exponentially and it will cause ultimately up surge in the demand of such properties. Take example of overly populated city with urbanisation. The cost of apartment, small suits or shops has got skyline prices. No one could afford it but those who had invested into it already would benefit from it. I think it’s far better to have possession of the property rather than just renting it out.

In today's time if you own your house you are among rich ones because the value land and properties are extremely high and its almost unaffordable to buy it on your own so you have to go for rental options .
Yea that takes your maximum income and earnings as rents are high too but these things are essential you cant run away from them.

It is really an inevitable waste of money indeed, but their nothing me or anybody that didn't have an inherited or personal house can do about this situation unless you are planning to make yours a reality, rent has become one of the major thing that takes more more from people today

You think it's a waste if you're not benefiting from it. There are working people that go from place to place and there's no other option but to rent.
That's the only way for them to save time from going to work so they rent places that are close to their offices and it's no waste of money because they save time. So either choose, spend more time traveling going to work but the expenses are the same when you commute.
Or do rent and use that budget for commuting for it. Circumstances do permit us and that's why it's essential for us to look at the sides where we'll mostly going to be beneficial upon renting. Not everyone is in good condition to have a house that's inherited from their parents. We're not all born with a silver spoon.

Same here on which in our country which there is really some cheap housing offers on which the monthly amortization is really that cheap and something that could really be able to afford
but in exchange it would really be a very long time kind of contract which it would really be playing around 20-30 years which is something that absurd. If you are really that good in math
or calculations then you would really be able to say that their interest is really that high and this is where developers do really make tons of money which it isnt really that shocking
anymore.

This is why to those people who do opt out on renting are to those who doesnt really like to have such kind of deal or something to those people who had been declined on acquiring
these cheap housings (not cheap at all) if you do make out calculations. Its a waste of money actually but is there any choice that we could make on?
If we dont really have no choice then we do really ends up on something like this.

Renting is flexibility for the tenant and the landlord to some extent.   I've rented very cheaply in some places and that was totally the correct choice as I was always at work and barely home so what did it matter if I just rented a very humble place to sleep.  Im an ideal tenant for the landlord perhaps because I occupy an otherwise empty property and there is always somebody there in the night to upset anyone who has designs on interfering or stealing from the property in some way.
   I do think some people over pay but thats not inevitable, we dont have to have a housing shortage but I acknowledge in lots of busy cities that is the case unfortunately.  I hope distance working changes the world, makes population resource management more dynamic and land use more efficient but maybe we arent there yet.

Flexibility is the keyword! Imagine being a wanderer in the apartment world, ready to bounce when life's winds alter course. Plus, ditching that faulty faucet to your landlord while enjoying your series is a bonus. On high rent concerns, remember, it's not a rigid rule! Supply and demand govern it. Tenants want bargains, landlords eye maximum returns. But hey, it's the digital era! We're almost telecommuting from Mars (Elon, you're on the radar!). So, can't we solve the housing crisis? Remote work could ease city overcrowding.

I try to do a simple calculation for all 1 month's expenses encapsulated in $1000, and over the next 50 years I'll lose somewhere around $600,000 that's excluding inflation. So the goal of reaching $ 1m will meet most of the needs in the family for a long time if only renting a house, maybe the real estate prices are different in each place so people will have different views about the house owning or renting, as I personally have a small house in the countryside, but I still don't choose to live in another place where the rent is quite cheap compared to my income. The problem of balancing income and expenses in life will make the family economic problem solved, not everything in life will be achieved as desired, can live stably or luxuriously like poverty, it's all up to us to decide.

Renting Money is the thing that makes us consumptive, most people Renting Money is only for useless activities such as buying new gadgets, motorcycles, buying new car, etc, if we are Renting Money and used effectively such as adding business capital, of course this is good and appropriate.

this is not always the case, in fact renting goods that are always used is a waste, such as housing, gadgets, vehicles and other items that have become basic necessities in everyday life, in fact buying them includes cost savings.
Usually the people who rent something important are those who have enough money to buy it.
I agree if it is said that renting is a waste, but that's not all things, there are some things that are really better to rent than to buy, things we don't always use.

Renting a home can be seen as an inevitable waste of money by some, as the money spent on rent is not building equity or ownership in a property. However, there are situations where renting can be a more financially sound decision. If someone is unsure of their future plans or does not have the financial stability to afford a down payment on a home, renting may be the better option. Renting can provide flexibility in terms of location and lifestyle. Renters are not tied down to a specific property or location for an extended period of time, which can be beneficial for those who value mobility and change. Ultimately whether renting is a waste of money depends on individual circumstances and priorities. It is important to weigh the pros and cons of renting versus owning a home before making a decision.

Renting to increase business capital is certainly very appropriate and also very reasonable because the goal is to make more money with this capital. But if renting is only for consumption, I think it makes no sense because in the end we have to pay for what we have rented. But that doesn't include when someone just wants to rent a car and a specific place to do a job because in the end he just pays the rent and returns the car to its original owner.

There are indeed things that are better rented than bought if it is only to be used once in a lifetime. But if it's things that are often used and consumed every day, I don't think it's very good to rent every day because we need to buy them and make them as private owners so that they can be used or consumed every day without having to pay rent. And it's true that it's a form of savings for everyone in their life as you say, because everyone will experience waste when they have to continue to pay rent on what they use every day.

Returning to the concerns raised by the OP, when the location of one's home is highly incompatible with the workplace, it inevitably results in additional daily expenses for the individual. This is quite understandable, as urban housing prices are significantly higher compared to rural areas.

If you work in the city while residing in a village, there will be extra costs incurred every day for commuting to work. This leads to an inflated budget for housing. Taking into account the nature of one's occupation and the extent of their needs greatly influences the decision-making process in determining whether to rent a home or pursue a mortgage.

Well, this is also happening to me right now. Incidentally, I am not married and have no inheritance from my parents. My job is far from my parents' house, so I automatically have to rent in the city and work assignments also change every year, so I haven't prioritized buying a house. Because there are concerns as you convey.

But even if I have the chance, I still choose to rent while saving. I will buy land first, build the house gradually (literally). The important thing is that the house is safe from the heat and rain first, the electricity is on, and there is plenty of clean water. Why wake up alone? Have surveyed public housing that is affordable, but the specifications of the building are very far from expectations. If we build our own house, we know our building materials, it takes more effort, but it's so worth it. If there is more fortune, you can continue to make what is still lacking, if you don't have money, stop first. Because if we build our own house without credit, we wake up without worrying about the bank confiscating the house.

So renting as a waste really all depends on each individual person, because only we can analyze our own finances and use them wisely. because listening to other people's opinions is not necessarily what we can apply too.

Not everyone can afford a house and that's why renting of apartment are options available. If you're a single individual without any family living with you I think renting an apartment is the better option. Owning a house should only be considered when you have a family and it shouldn't be down without the approval of your spouse because she mightn't like the house you bought and won't want to raise a family in the house.

Don't own a house until you're married so the both of you can choose the house to buy together and that's if you have the money to finance the buying of the house. For those that aren't capable, they should continue renting until they get better paying jobs to own a house.