Is renting an inevitable waste of money?

[fuer44]

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.

[Cryptock]

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.

[Theones]

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.

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.

[minime0105]

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.

[og kush420]

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.

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

[paxmao]

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.

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.

[blockman]

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.

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

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.

[xSkylarx]

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.

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

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.

[GideonGono]

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.

[Alphakilo]

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.

[KennyR]

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.

[Hamphser]

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.

[Rockstarguy]

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.

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.

[Fatunad]

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.

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.

[STT]

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.

[og kush420]

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.

[og kush420]

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 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

[Uruhara]

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.

[Pamadar]

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.

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.

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.

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.

[posi]

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.