Is renting an inevitable waste of money?

[Cryptmuster]

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.

[solehdavid]

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.

[Cryptock]

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

[molsewid]

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.

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.

[jrrsparkles]

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.

[og kush420]

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

[Negotiation]

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.

[xSkylarx]

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

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.

[Theones]

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

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.

[Iroh]

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.

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.

[so98nn]

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.

[Uruhara]

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.

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.

[shinratensei_]

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

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.

[Pamadar]

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.

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'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.

[Davian144]

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.

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.

[rojan]

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.

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.

[kro55]

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.

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.

[karmamiu]

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.

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.

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.

[Theones]

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.

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.

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.

[KaliLinux]

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.

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.