how to buy a house

[Nwadiche]

With the current situation and cost living, to buy a house in this country won't be easy especially with some salaries earner with low income without no other sources of income. The minimum wages can't even feed a family talk more of buying a house, some people have been living in someone house as a tenant for many years not that they don't have plans of buying or building their own house but due to economic hardships they can't afford buying a house.

[Z_MBFM]

do you own a house? in a time where it seems like it is almost impossible to own a house unless you are earning huge amounts i notice that young people often go for apartments instead of actually owning land and a house

can a middle class citizen still afford to buy a house or do they really have to earn ridiculous amount of money in order to buy one?

In my country, the price of land in rural areas is still very low, due to which even a middle-class family can buy land and build a house there, but to build a good quality house, a very large budget is definitely required, which the middle-class family members cannot afford. However, there is still an opportunity to build a house in rural areas. But the price of a house in the city is beyond the ability of a middle-class family member to afford. As time goes by, a house will start to become more expensive because the population will start to increase, but the size of a country will never increase. Here, only those who inherit a house will be lucky, otherwise if someone wants to build their own house, it will be very challenging for them.

[odunybiz]

do you own a house? in a time where it seems like it is almost impossible to own a house unless you are earning huge amounts i notice that young people often go for apartments instead of actually owning land and a house

can a middle class citizen still afford to buy a house or do they really have to earn ridiculous amount of money in order to buy one?

Overall, having your own home requires a big sacrifice in lifestyle (postponing desires), if this method cannot be applied in everyday life, then the dream of having your own home will be a dream that is difficult to come true.

Rich people can buy or build a house easily because they have the money but an average individual will struggle for it if he/she desires to own one. Just like @amihada said, to own a house for mid class people, they need certain adjustment in their lifestyles which may definitely lead to some postpone desires. Most time Government workers get loan from bank to build or buy a house and this money are deducted monthly from their salary leading to inability to spend money the way he/she normally do before. Although it may not be easy for a middle class individual to own a house but with little sacrifice they can do. I have seen a manager in a bank that doesn't own a house till he retired while ordinary messenger has one. This is another point, interest and mindset. Some people mindset is to buy a house while building it may be more visible for them. They believe there class should be able to raise money once and buy a house, so they keep struggling as they postpone this till they are retired.

[bubilas]

do you own a house? in a time where it seems like it is almost impossible to own a house unless you are earning huge amounts i notice that young people often go for apartments instead of actually owning land and a house

can a middle class citizen still afford to buy a house or do they really have to earn ridiculous amount of money in order to buy one?

In the country where I live, it has become very difficult to buy an apartment or a house, and the younger generation is desperate. While it was possible to get an apartment by working in a factory or by speculating in the market, there are almost no options for buying your own apartment without a loan.

The interest rates have become so high that the younger generation prefers to spend money quickly rather than save for a long time. They know that even if they save for a long time, they will not be able to achieve their goals. It's sad, but this is the current situation.

[KiaKia]

do you own a house? in a time where it seems like it is almost impossible to own a house unless you are earning huge amounts i notice that young people often go for apartments instead of actually owning land and a house

can a middle class citizen still afford to buy a house or do they really have to earn ridiculous amount of money in order to buy one?

Buying a house can be more expensive than building your own house, this isn't true across the world as it depend on which country you are from, my point is mainly for those who comes from a developing country.

It's smarter to buy pieces of lands first, buying or building isn't easy as many thought, invest in lands and after several years have passed you can sell some lands and use the money to build or buy a house.

People make mistakes going to work every morning and start using their salary to build a house, this is a wrong idea because as time goes by your bills will get heavier and you might not be able to finish that house, even after several years you can still be where you were before.

[Mayor of ogba]

When I first saw your topic I thought you are going to give us guidelines on how we can buy a house but your message is far from that and it's quite different from your topic. I don't know in other places, but in my country middle class citizens  can't afford to buy a house; it's the rich and the wealthy citizens that has what it takes to buy a house in my country.

[LGD2Business]

Currently the average price of a two-bedroom apartment is around 5 million TL here. The minimum wage, meanwhile, is 28.000 TL net. Assuming the ratio of house prices to the minimum wage remains the same and assuming someone doesn't touch the money they earn and isn't affected by inflation, it would take them 178 months to save that amount. That's roughly 15 years. In other words, the value of money will remain the same, the ratio of the minimum wage to house prices will remain the same, the value of the money we earn won't decrease and we'll save every penny we earn. In this scenario, a house can't be purchased before 15 years. And these houses are small ones suitable for single people or perhaps small families of 2. A working life is already 40 years. Think about it, can a person afford to buy a home during this period or not?

[Fortify]

do you own a house? in a time where it seems like it is almost impossible to own a house unless you are earning huge amounts i notice that young people often go for apartments instead of actually owning land and a house

can a middle class citizen still afford to buy a house or do they really have to earn ridiculous amount of money in order to buy one?

It has progressively gotten harder, or at least changed, over the years to buy a house. Salaries have stagnated, property prices have risen and there seems to be an ever growing pool of people out there competing for fewer decent options. Apartments in many places have become less attractive especially after Covid made everyone want garden space, so this is another shift to raise prices. There are more corporations buying up housing as an investment than ever before and mega landlords who own thousands of properties who are ready to snap up the next one at a moments notice. However, we are all stuck in the same game and have to grind out home ownership if that is your ultimate goal, sometimes making sacrifices while saving.

[Mando100]

It is actually difficult now to own a house despite that's the dream of everyone, but due to the high cost of everything many find it difficult now to own a house but rather go for a rented and affordable apartment. Also the way things are now you can't relay on one job, because anything can come up anywhere anytime, like transfer of service or we are tired of working with you can check for another job somewhere, all this can arise anytime either you offended at the organization or not, It comes naturally.

So, if all this can happen in a shot period of time would they have the time to think towards acquiring there own house, when they knew staying in one place is uncertain. We hope things gets better sooner one day, but still we should still strive to aquire our own personal house, a rented house can not be relay on it as is disadvantages too.

[Stalker22]

~
A working life is already 40 years. Think about it, can a person afford to buy a home during this period or not?

You are right, the math does not work.  No, a solo person cannot afford to buy a home during a 40-year working life if they stay on minimum wage.  They cannot save 100% of their income.  They have to eat, pay rent, buy clothes...  Not to mention inflation.  By the time you save your 5 million, that exact same two-bedroom apartment will cost 15 million.

Its no better in my country either.  Young people cannot afford their own homes in urban areas anymore.  That is why the entire concept of the "traditional timeline" has completely broken down.

[Samlucky O]

do you own a house? in a time where it seems like it is almost impossible to own a house unless you are earning huge amounts i notice that young people often go for apartments instead of actually owning land and a house

I think they go for what they can afford. If they have the money to buy land and build house, they will do such. I don't see reason why someone will think of build house when they don't have money, obviously those that rent house do that because that's what their money can only afford.

can a middle class citizen still afford to buy a house or do they really have to earn ridiculous amount of money in order to buy one?

A middle class person can own a house if he decides to start gradually untill he finishes with it, it doesn't necessarily mean that he need to earn a ridiculous money before that happens. If you as a middle class want to earn ridiculous money before building then you are not ready to build a house.

[Unknown Op]

do you own a house? in a time where it seems like it is almost impossible to own a house unless you are earning huge amounts i notice that young people often go for apartments instead of actually owning land and a house

can a middle class citizen still afford to buy a house or do they really have to earn ridiculous amount of money in order to buy one?

In today's economy though it seems like it is impossible for a middle class person to buy a house but it is not entirely correct. It is still possible to buy a house for that they should have proper financial planning. The prices of the house depends on location and timing ,there are areas where the prices are reasonable and quite low so it just depends on the timing, location where you want to buy the house.
Most of the people does not go for the luxurious houses they just buy it and then they upgrade it with the time and money that they have.

Other than that they can also buy houses on installment basis that they have to pay over the years on monthly basis. In today's digital era people are working really hard to build their dream houses, to make their dreams come true so they are not dependent on the single source of income they are working on multiple sources to make their lifes better. People need to have better financial planning and investment plans to afford  the life they want

[LGD2Business]

Its no better in my country either.  Young people cannot afford their own homes in urban areas anymore.  That is why the entire concept of the "traditional timeline" has completely broken down.

This is now the case almost everywhere in the world. Buying a house is very difficult for this generation. We were lucky, we may be the last generation able to buy our own houses. It's now very hard for people to buy an affordable house. Even those who can afford it are forced to squeeze into very small spaces. Someone earning minimum wage simply can't afford a house. Even with a good civil servant's salary, a couple would have to both work to afford one. They try to pay off the mortgage over 10 to 15 years by making high mortgage payments.

[Yeesha]

Its no better in my country either.  Young people cannot afford their own homes in urban areas anymore.  That is why the entire concept of the "traditional timeline" has completely broken down.

This is now the case almost everywhere in the world. Buying a house is very difficult for this generation. We were lucky, we may be the last generation able to buy our own houses. It's now very hard for people to buy an affordable house.

Buying land is a big expenses talkless of building a house right from the foundation, including paying for the interior designer. Building an apartment is going to cause so much expenses. Even if someone built a small apartment, he or she definitely deserves a very big congratulations, because owning an apartment is not for the weak, so they must have worked very hard to be able to build an apartment.

Using the word affordable even serve as if they are houses that you can buy at cheaper prices or cheaper rates . Our generation is actually very lucky, because today I can stand my ground and testify that 70% of individuals own their apartments no matter how little it may seem, and it is something that we should be proud of. If an individual is struggling financially saving up in order to build an apartment is not going to be easy.

[Fara Chan]

When I first saw your topic I thought you are going to give us guidelines on how we can buy a house but your message is far from that and it's quite different from your topic. I don't know in other places, but in my country middle class citizens  can't afford to buy a house; it's the rich and the wealthy citizens that has what it takes to buy a house in my country.

In general, middle-class people can't afford to buy a ready-to-move-in house instantly in any complex, but even now, I've seen at least a small number of middle-class people gradually build their own homes in their respective areas. What we need to understand is that it's not impossible for some middle-class people if they desire to own their own home in their later years. I, too, am middle-class and am currently building a house in my neighborhood. Although the completion time may be a bit longer, I will at least strive to complete the project before the end of the year.

It's undeniable that building materials are now very expensive, and the costs of home builders have also begun to increase. So it's clear that middle-class residents are starting to find it very difficult to build a house and it will be even more difficult to buy one instantly. Especially considering the modest incomes of middle-class residents, they would never have imagined building or buying a house in their current circumstances. However, it's clear that this is still possible with determination and hard work, even if it takes a considerable amount of time.

[Finebone]

do you own a house? in a time where it seems like it is almost impossible to own a house unless you are earning huge amounts i notice that young people often go for apartments instead of actually owning land and a house

can a middle class citizen still afford to buy a house or do they really have to earn ridiculous amount of money in order to buy one?

I initially thought that you drafted a plan on how we can generate a huge amount of money to buy a house when I saw the thread, but I didn't know that nothing was attached to it.
But to own a house of you own, you need a lot of money, and you can do that by saving it up, or a huge amount of money just came into your hand by a contract job or any other way.

Every right thinking person will want to own a house of their own, but that is not possible because the rate at which poverty is dealing with people, it can never be possible, and since land are scarce, everyone cannot own a house of their own because their will not be space for that.

[Youngrebel]

It is actually difficult now to own a house despite that's the dream of everyone, but due to the high cost of everything many find it difficult now to own a house but rather go for a rented and affordable apartment. Also the way things are now you can't relay on one job, because anything can come up anywhere anytime, like transfer of service or we are tired of working with you can check for another job somewhere, all this can arise anytime either you offended at the organization or not, It comes naturally.

So, if all this can happen in a shot period of time would they have the time to think towards acquiring there own house, when they knew staying in one place is uncertain. We hope things gets better sooner one day, but still we should still strive to aquire our own personal house, a rented house can not be relay on it as is disadvantages too.

In today economy, many people prefer stability over owning a house because job is today are no longer as secure as they used to be and also there are so many things that can make a person not to build a house even if there is money such like transfer, job loss, or better opportunity in another different location can happen unexpectedly, making it difficult to for a person to build. 

[cyberninja2]

In today economy, many people prefer stability over owning a house because job is today are no longer as secure as they used to be and also there are so many things that can make a person not to build a house even if there is money such like transfer, job loss, or better opportunity in another different location can happen unexpectedly, making it difficult to for a person to build. 

Luxury items are currently unattainable because the difficult economy has made people sometimes think only about the necessities of life. This doesn't mean they don't want a luxurious life but rather that they prioritize the needs citing current conditions or situations that are not conducive to using things that don't align with our current income. Moreover building a house is certainly much more difficult nowadays because the cost of materials is very high which sometimes places a greater burden on us when building a house.

What we need to be aware of now is our focus on working so that we can continue to work with the aim of earning money that we can use to cover the necessities we spend and also for our children who are still studying whether at elementary or middle school which is clear that they always need it so this is what we need to take care of now so that they can finish and we can also continue to work to support them with enthusiasm in producing for them with the results we get from where we work.

[As-Soon-As]

do you own a house? in a time where it seems like it is almost impossible to own a house unless you are earning huge amounts i notice that young people often go for apartments instead of actually owning land and a house

can a middle class citizen still afford to buy a house or do they really have to earn ridiculous amount of money in order to buy one?

To buy a house, you must have your own efforts, rely on your own willpower to focus on more income and then you can be able to buy a house. To build a house in a city or to buy an apartment, you need a lot of money, for this you must have an income according to your needs.
The more income you have, the more you can afford to buy a bigger house. To make another purchase, you must have a proper plan and income, then it will be possible for you to build a house.

[colinistheman]

It is actually difficult now to own a house despite that's the dream of everyone, but due to the high cost of everything many find it difficult now to own a house but rather go for a rented and affordable apartment. Also the way things are now you can't relay on one job, because anything can come up anywhere anytime, like transfer of service or we are tired of working with you can check for another job somewhere, all this can arise anytime either you offended at the organization or not, It comes naturally.

So, if all this can happen in a shot period of time would they have the time to think towards acquiring there own house, when they knew staying in one place is uncertain. We hope things gets better sooner one day, but still we should still strive to aquire our own personal house, a rented house can not be relay on it as is disadvantages too.

In today economy, many people prefer stability over owning a house because job is today are no longer as secure as they used to be and also there are so many things that can make a person not to build a house even if there is money such like transfer, job loss, or better opportunity in another different location can happen unexpectedly, making it difficult to for a person to build. 

There are many reason and factor given to justify not owning a home, and each person will have their own reason. However, in my opinion, the biggest reason is that housing prices have risen too high and are beyond the reach of most people.
Owning a home is a dream and a goal for most of us. Because it is not just a place to live, but also offers a sense of security, independence and a foundation for building future for ourselves and our families.

If everyone could afford it, I think no one would say no to having their own home. Anyone who comes up with one excuse or another is simply unwilling to face reality.