Is renting an inevitable waste of money?

[Inwestour]

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.

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.

[kak uli]

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.

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.

[cafee_orange]

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

[Pamadar]

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.

[wmaurik]

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.

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.

[Faisal2202]

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.

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.

[Unbunplease]

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.

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.

[Razmirraz]

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.

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.

[Pamadar]

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.

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.

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.

[Bitcoin2009]

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.

[andriarto]

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.

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.

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

[kak uli]

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.

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.

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.

[dunfida]

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.

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.

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.

[SOKO-DEKE]

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.

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.

[romero121]

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.

[wmaurik]

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.

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.

[Cryptock]

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.

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

[Theones]

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.

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

[Cryptomiles1]

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.

[Cryptock]

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.

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.