Is renting an inevitable waste of money?

[zaki12]

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.

[Broly46]

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

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.

[michellee]

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.

[Altryist]

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.

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.

[BRINIRHA]

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.

[Erumo]

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?

[xSkylarx]

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.

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?

[naira]

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.

[Smartprofit]

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.

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.

[BigBos]

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.

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.

[Oceat]

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.

[livingfree]

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.

[justdimin]

If you're young and haven't inherited a property from your ancestors, chances are that you're forced to rent.

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.

after spending all this money, you're practically left with nothing and may be subject to looking for a new house at any moment.

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.

[Spaceman1000$]

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.

[Cryptodebjoe]

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

[m2017]

~snip

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.

[Flexystar]

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!

[BitcoinTurk]

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.

[fadhilz123]

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.

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.

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.

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.

[isaac_clarke22]

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

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.