Rent over buying of house?

[atookz]

Owning a house in my opinion has significance despite of its financial value because it gives one security, certainty of where he/she lives, and control over his/her life. If house owning is imposed on someone, e.g., expenses start to rise too high or the economy takes a turn for the worse, it can be a burden. What's more, prices for houses are very high at the moment, so it may not be within everyone's reach, particularly young people.

Therefore, there has been an incredibly transforming mindset shift for many people from having to own a house as soon as possible to owning a house when they are ready. So renting doesn't mean failing to own a house, but can be an option to maintain mobility and financial stability. I think people are more concientious about courting long-term things such as houses.

[Salahmu]

My friends rented an apartment in the center of the country, in the capital, for a very long time, and they gave a lot of money for a very small apartment that was dirty, but they needed square meters in the middle of the city to try to find a high-paying job, and they worked like that for several years, but eventually they realized that they were wrong. and it was necessary to initially take care to buy at least a room in this city, and right now they are all trying to do it, but it costs so much that now they go among relatives and try to find those who would lend them. But the laugh is that they don't want to sell the car for 50k dollars.Lol.

It was something most people was not realizing but now a lot of people are looking at importance of a house than a rented ones. If the car could worth 50k dollars and they're looking for money to acquire a property they should have sold it and use the 50k dollars to increase the one that is available because even if a car could be very helpful in fast movement and ease journey but it also has a way it becomes a liability to the owner especially those expensive cars that if anything got spoilt on the body is going to cost a lot to buy it, so actually maintaining is a lot money. Although the property shouldn't have cost much since your friend want to buy one room because is mostly when a person is buying a complete house with more rooms that it would be very costly.

[Juicyhome]

Owning a house in my opinion has significance despite of its financial value because it gives one security, certainty of where he/she lives, and control over his/her life. If house owning is imposed on someone, e.g., expenses start to rise too high or the economy takes a turn for the worse, it can be a burden. What's more, prices for houses are very high at the moment, so it may not be within everyone's reach, particularly young people.

Therefore, there has been an incredibly transforming mindset shift for many people from having to own a house as soon as possible to owning a house when they are ready. So renting doesn't mean failing to own a house, but can be an option to maintain mobility and financial stability. I think people are more concientious about courting long-term things such as houses.

Building a house is the best thing that happen to you as man, you can't live in a renting apartment for long, owning your personal house is comfort and freedom, don't negotiate with it if you have a resource to build it, everyone deserves to own a house.

I always envy those that own a house because I don't have the money to buy or build it, I'm living in a rented house and I pay a lot of money yearly, the day I'll build a house it will be the happiest day in my live, I'll be free from renting. Paying rent is like living in prison, until you have a house in a good location you're still a tenant.

[Royal Cap]

Owning a house in my opinion has significance despite of its financial value because it gives one security, certainty of where he/she lives, and control over his/her life. If house owning is imposed on someone, e.g., expenses start to rise too high or the economy takes a turn for the worse, it can be a burden. What's more, prices for houses are very high at the moment, so it may not be within everyone's reach, particularly young people.

Therefore, there has been an incredibly transforming mindset shift for many people from having to own a house as soon as possible to owning a house when they are ready. So renting doesn't mean failing to own a house, but can be an option to maintain mobility and financial stability. I think people are more concientious about courting long-term things such as houses.

In fact, now many people have started to see a house not just as a dream, but also as a huge long-term responsibility. Especially among the younger generation like me job change, city change have become very common. For this reason, many people want to have financial flexibility first and later, when they are stable, they want to think about house ownership. But one thing is true, having your own house gives you a different mental peace. There is less tension about whether the rent will increase or not, what the landlord will say. So for me the answer to renting vs owning is not the same for everyone.

[Inwestour]

In fact, now many people have started to see a house not just as a dream, but also as a huge long-term responsibility. Especially among the younger generation like me job change, city change have become very common. For this reason, many people want to have financial flexibility first and later, when they are stable, they want to think about house ownership. But one thing is true, having your own house gives you a different mental peace. There is less tension about whether the rent will increase or not, what the landlord will say. So for me the answer to renting vs owning is not the same for everyone.

I think it all depends on financial capabilities. If you can afford to buy a home, then you will most likely buy one, because renting a place basically means giving your money to someone else. On the other hand, renting gives you more flexibility, since it is easier to move and relocate. But at the same time, nothing stops you from simply selling your home and buying another one somewhere else if you decide to move. So both options have their own advantages and disadvantages.

[Queen uloma]

Is owning a house now a liability? If so, how do you shift your mentality of dreaming of owning a house to just renting? There’s pros and cons each to renting and owning a house. But I have heard that younger people nowadays prefer renting over actually buying a house. Because of mobility being the priority. Plus, a house is only profitable once you sell it. But otherwise it’s stagnant.

This is only a perspective from my country. Is it the same for others? Is permanence now a bad thing?

Many think that Owning a house is now a liability because they’re afraid of taxes and how to maintain it,  so they prefer to rent a work since it gives  freedom, And when they have the opportunity to leave their country they can easily relocate without bothering themselves on how they will cope with their properties, whether they will sell it or not. I am not saying owning a  house is bad, because there’s this inner joy and peace that comes with it, when you’re in your own house, you will have your own privacy and you won’t be bothered of anything that will happen.
Owning a house and also renting a house has its own disadvantages and advantages because when you rent a house, you’re not entitled to repair anything in the house but if you own a house  you’ll be in charge in anything that happen in the house whether  fixing or replacing.

[henmark]

There is a lot of frown when people knew that someone is renting. They think that it's not okay to rent and they have to be forced into owning a house.
We're in the 21st century where each person knows what they want and what they have to do.
If someone chose to rent over owning a house, they know that it's going to cost them much in doing so.
Yes, they might not have something they own but I think that soon when they are prepared for it, they'll also get one.

Obviously, renting can never be a choice, it's a compulsion, because no person in their right mindset would ever want to choose renting over owning a house if they know they can easily afford to buy a house but don't want to do it. Whether you are married, single, employed, running a business, or anything else, owning your own house is necessary for everyone, and every person strives to achieve that at one point in their lives, some make it happen eventually, and some still keep grinding and renting, but as I said in the beginning, no one can ever convince me that people live on rent by choice.

Housing and property prices keep going higher over time, and this has made it extremely difficult for the employed class to be able to afford to buy a house, because you don't earn enough to save enough money that you can use to buy a house later in life, for this reason, it is only those who are making a lot of money to own houses of their own, and almost all the people who are renting, they are all employed, doing a 9 to 5 job somewhere. You will never see a businessman running successful businesses living on rent.

[LastKiss]

Is owning a house now a liability? If so, how do you shift your mentality of dreaming of owning a house to just renting? ~snip~

Renting a house is not a problem especially since young people nowadays tend to change their jobs, whether they're bored or see another opportunity they're not afraid to try new jobs. If they stay in one place, they risk facing limited wages, which might not getting their dream wage. I think that's why younger people prefer to rent a house rather than buy one. However, this changes when they get older, once they're married, have kids and have stable jobs, they would likely prefer to own a house instead of renting. Some of my coworkers prefer to rent a house where they live now and buy a home in their hometown

[bakasabo]

Is owning a house now a liability? If so, how do you shift your mentality of dreaming of owning a house to just renting? There’s pros and cons each to renting and owning a house. But I have heard that younger people nowadays prefer renting over actually buying a house. Because of mobility being the priority. Plus, a house is only profitable once you sell it. But otherwise it’s stagnant.

This is only a perspective from my country. Is it the same for others? Is permanence now a bad thing?

Many think that Owning a house is now a liability because they’re afraid of taxes and how to maintain it,  so they prefer to rent a work since it gives  freedom, And when they have the opportunity to leave their country they can easily relocate without bothering themselves on how they will cope with their properties, whether they will sell it or not. I am not saying owning a  house is bad, because there’s this inner joy and peace that comes with it, when you’re in your own house, you will have your own privacy and you won’t be bothered of anything that will happen.
Owning a house and also renting a house has its own disadvantages and advantages because when you rent a house, you’re not entitled to repair anything in the house but if you own a house  you’ll be in charge in anything that happen in the house whether  fixing or replacing.

Many think that owning a house is when you pay money, move in, and the rest of the time you do nothing and only enjoy living outside the city. Those who have never owned a house dont understand that you are now responsible about everything that happens in the house, outside of it and on territory. Sometimes owning a house is like having a part time job. When others rest on weekend, you might spend this time being busy doing something. Renting is different, you can do nothing and always move out next month. You are less responsible if something happens in or with the house or territory around.

[Taskford]

Many think that Owning a house is now a liability because they’re afraid of taxes and how to maintain it,  so they prefer to rent a work since it gives  freedom, And when they have the opportunity to leave their country they can easily relocate without bothering themselves on how they will cope with their properties, whether they will sell it or not. I am not saying owning a  house is bad, because there’s this inner joy and peace that comes with it, when you’re in your own house, you will have your own privacy and you won’t be bothered of anything that will happen.
Owning a house and also renting a house has its own disadvantages and advantages because when you rent a house, you’re not entitled to repair anything in the house but if you own a house  you’ll be in charge in anything that happen in the house whether  fixing or replacing.

Many think that owning a house is when you pay money, move in, and the rest of the time you do nothing and only enjoy living outside the city. Those who have never owned a house dont understand that you are now responsible about everything that happens in the house, outside of it and on territory. Sometimes owning a house is like having a part time job. When others rest on weekend, you might spend this time being busy doing something. Renting is different, you can do nothing and always move out next month. You are less responsible if something happens in or with the house or territory around.

Actually its true because the spending's will not stop only when they are done buying their house. The expenses continues since they need to pay the bills,taxes and maintenance. If they have enough money to buy a house but got zero balance after that. They might be in trouble especially if they cannot sustain paying the cost of living on their own home.

So if they are not ready and think that buying a house is a huge hurdle for their growth for now. Maybe they should pause that idea for awhile then try to rent first and think about doing that later on once they are financially and spiritually ready.

[Byebyebtc]

Is owning a house now a liability? If so, how do you shift your mentality of dreaming of owning a house to just renting? There’s pros and cons each to renting and owning a house. But I have heard that younger people nowadays prefer renting over actually buying a house. Because of mobility being the priority. Plus, a house is only profitable once you sell it. But otherwise it’s stagnant.

This is only a perspective from my country. Is it the same for others? Is permanence now a bad thing?

Buy a house when you can afford it, when you have an active income, have a good career path or when you want to settle down in a region then owning a house is the way to get home.
 
Renting is a good decision when you don't have a stable economy because mortgaging a house is quite difficult for a poor economy.

It comes down to your financial situation whether to rent or buy a house.

That's right, your financial situation is what will determine which you will go for
Nevertheless building a house is better but is if you financial situation can handle it,

In my country I see alot of uncompleted building that are already wearing off,and it's as a result of mistakes of building when your not financially stable enough

[Akbarkoe]

Buy a house when you can afford it, when you have an active income, have a good career path or when you want to settle down in a region then owning a house is the way to get home.
 
Renting is a good decision when you don't have a stable economy because mortgaging a house is quite difficult for a poor economy.

It comes down to your financial situation whether to rent or buy a house.

That's right, your financial situation is what will determine which you will go for
Nevertheless building a house is better but is if you financial situation can handle it,

In my country I see alot of uncompleted building that are already wearing off,and it's as a result of mistakes of building when your not financially stable enough

I think that previously he felt capable with the money he had, but his mistake was that he did not calculate properly, many of the people who did not build finished because of the wrong way of calculating, there are so many calculations that need to be considered when building a house, this is different from buying, buying you will only calculate the mark-up figure that has been made by the developer so it is already round and only needs to be negotiated while building yourself is a lot to miss, starting from materials, workers, consumption, time frame, and small details that are sometimes not calculated so it is like unexpected costs.

Sometimes there is also a misapplication of the budget plan, for example, in 2020 building a house is only $20k, and someone then saves for it and arrives in 2026 the money has been collected, the mistake is immediately implemented without recalculating costs which is very important to do because materials and others have increased in price and cases like this cause the construction to not be completed.

[Webetcoins]

I do not get what would be the negative of buying a house? Like what is the reason that someone would prefer rent over owning if that is the only options.

I agree that if you are going to use the money for something better, or even make more money with that money than house could go up, then yeah, use the money and make more.

But that is a risk, and to be fair almost everyone buys a house with mortgage and not with just straight up cash. So I do not get why rent would be preferred option in this case, it makes no sense.

[programmer3666]

Is owning a house now a liability? If so, how do you shift your mentality of dreaming of owning a house to just renting? There’s pros and cons each to renting and owning a house. But I have heard that younger people nowadays prefer renting over actually buying a house. Because of mobility being the priority. Plus, a house is only profitable once you sell it. But otherwise it’s stagnant.

This is only a perspective from my country. Is it the same for others? Is permanence now a bad thing?

Seriously, with the current inflation and financial hardship happening in many countries now, owning a house is becoming very difficult for average people. Prices of land, building materials and even rent keep increasing every year. Take a look at places like London or even some cities in the US where many young people work decent jobs but still cannot afford to buy a house because the cost is too high. So many people now prefer renting because it gives them flexibility and less pressure. Society will always pressure people to own houses early, but the reality on ground is different now. Some people are just trying to survive, pay bills, feed their families and keep up with the economy. There is nothing wrong with renting while you build yourself financially step by step.

[Abu-Naim]

I do not get what would be the negative of buying a house? Like what is the reason that someone would prefer rent over owning if that is the only options.

I agree that if you are going to use the money for something better, or even make more money with that money than house could go up, then yeah, use the money and make more.

But that is a risk, and to be fair almost everyone buys a house with mortgage and not with just straight up cash. So I do not get why rent would be preferred option in this case, it makes no sense.

Sometimes nature of work which fir example if you are not staying in one place due to the nature of your job, you can prefer renting apartments instead of building your own house because it might be a liability to you always u less if you are going to give it out on rent to be earning from it which will serve as investment.

If you not financially stable, and you don’t have money to afford a house and to also establish business for yourself, then owning a house can be a mistake because you might sell the house to survive your life; instead wait till you have grown business or a reliable source of income and also have the money to buy a house, then you will go ahead to buy a house instead of renting, and if you have more money, you go into real estate business because it’s pays really well.

[DYOR+BTC]

I do not get what would be the negative of buying a house? Like what is the reason that someone would prefer rent over owning if that is the only options.

I agree that if you are going to use the money for something better, or even make more money with that money than house could go up, then yeah, use the money and make more.

But that is a risk, and to be fair almost everyone buys a house with mortgage and not with just straight up cash. So I do not get why rent would be preferred option in this case, it makes no sense.

My brother the only reason that will justify onces action on choosing renting an apartment over building his own house is stupidly because it is only a stupid man or woman that will prefer living in another man's house over his own house. I know with the way things are going now it is very difficult building a house especially for the low class citizens that do not have a good paying job but waiting for a very big amount of money before we start building may make one end up in a rented apartment, the decision to start from somewhere is the only thing we need to start if not it is never an easy task.

[bubilas]

Is owning a house now a liability? If so, how do you shift your mentality of dreaming of owning a house to just renting? There’s pros and cons each to renting and owning a house. But I have heard that younger people nowadays prefer renting over actually buying a house. Because of mobility being the priority. Plus, a house is only profitable once you sell it. But otherwise it’s stagnant.

This is only a perspective from my country. Is it the same for others? Is permanence now a bad thing?

The new modern generation is surprisingly short-sighted. They rent beautiful apartments and do not want to give advice that it would be better to live in their small apartment than in luxury rented apartments. Am I not right that my home feels more pleasant? And besides, your home is always an asset. And while someone has even a small apartment, its price is constantly increasing and increasing. And this gives peace of mind for tomorrow to any homeowner.

[bakasabo]

Many think that Owning a house is now a liability because they’re afraid of taxes and how to maintain it,  so they prefer to rent a work since it gives  freedom, And when they have the opportunity to leave their country they can easily relocate without bothering themselves on how they will cope with their properties, whether they will sell it or not. I am not saying owning a  house is bad, because there’s this inner joy and peace that comes with it, when you’re in your own house, you will have your own privacy and you won’t be bothered of anything that will happen.
Owning a house and also renting a house has its own disadvantages and advantages because when you rent a house, you’re not entitled to repair anything in the house but if you own a house  you’ll be in charge in anything that happen in the house whether  fixing or replacing.

Many think that owning a house is when you pay money, move in, and the rest of the time you do nothing and only enjoy living outside the city. Those who have never owned a house dont understand that you are now responsible about everything that happens in the house, outside of it and on territory. Sometimes owning a house is like having a part time job. When others rest on weekend, you might spend this time being busy doing something. Renting is different, you can do nothing and always move out next month. You are less responsible if something happens in or with the house or territory around.

Actually its true because the spending's will not stop only when they are done buying their house. The expenses continues since they need to pay the bills,taxes and maintenance. If they have enough money to buy a house but got zero balance after that. They might be in trouble especially if they cannot sustain paying the cost of living on their own home.

So if they are not ready and think that buying a house is a huge hurdle for their growth for now. Maybe they should pause that idea for awhile then try to rent first and think about doing that later on once they are financially and spiritually ready.

People who buy house either must be financially ready to hire someone who will maintenance and fix everything or be ready to do everything themselves. A little example - you need to cut grass weekly if you dont want yard to look like desert or be untidy. For that you need to buy lawn mover, petrol for it, and oil sometimes. It takes hour or more to do grass cutting, you need time to clean lawn mover, otherwise blade will get rusty, you need to throw cut grass somewhere (you cant throw them in bin, especially if you sort garbage) - most likely drive somewhere to throw it away or to someone who will receive it for recycle. That is several hours of your free weekend time. Things you will do weekly or very often during late spring to whole summer. With apartment you dont have to do all that, as there is someone who will maintenance territory and you will pay little for that, as payment is divided among all apartments.

[Taskford]

Actually its true because the spending's will not stop only when they are done buying their house. The expenses continues since they need to pay the bills,taxes and maintenance. If they have enough money to buy a house but got zero balance after that. They might be in trouble especially if they cannot sustain paying the cost of living on their own home.

So if they are not ready and think that buying a house is a huge hurdle for their growth for now. Maybe they should pause that idea for awhile then try to rent first and think about doing that later on once they are financially and spiritually ready.

People who buy house either must be financially ready to hire someone who will maintenance and fix everything or be ready to do everything themselves. A little example - you need to cut grass weekly if you dont want yard to look like desert or be untidy. For that you need to buy lawn mover, petrol for it, and oil sometimes. It takes hour or more to do grass cutting, you need time to clean lawn mover, otherwise blade will get rusty, you need to throw cut grass somewhere (you cant throw them in bin, especially if you sort garbage) - most likely drive somewhere to throw it away or to someone who will receive it for recycle. That is several hours of your free weekend time. Things you will do weekly or very often during late spring to whole summer. With apartment you dont have to do all that, as there is someone who will maintenance territory and you will pay little for that, as payment is divided among all apartments.

Those are the common problems that they need to deal with knowing how big the obligation they are facing for buying their own house. People must know that this is also big obligation and as what I said earlier the problem didn't only stop when they buy their house, since obligations will continue to piled up.

If they are not ready with those consequences and they don't have much time to do small works then can't able to pay someone to do the job for them, I guess renting will be the best option for them at the moment.

[bakasabo]

Actually its true because the spending's will not stop only when they are done buying their house. The expenses continues since they need to pay the bills,taxes and maintenance. If they have enough money to buy a house but got zero balance after that. They might be in trouble especially if they cannot sustain paying the cost of living on their own home.

So if they are not ready and think that buying a house is a huge hurdle for their growth for now. Maybe they should pause that idea for awhile then try to rent first and think about doing that later on once they are financially and spiritually ready.

People who buy house either must be financially ready to hire someone who will maintenance and fix everything or be ready to do everything themselves. A little example - you need to cut grass weekly if you dont want yard to look like desert or be untidy. For that you need to buy lawn mover, petrol for it, and oil sometimes. It takes hour or more to do grass cutting, you need time to clean lawn mover, otherwise blade will get rusty, you need to throw cut grass somewhere (you cant throw them in bin, especially if you sort garbage) - most likely drive somewhere to throw it away or to someone who will receive it for recycle. That is several hours of your free weekend time. Things you will do weekly or very often during late spring to whole summer. With apartment you dont have to do all that, as there is someone who will maintenance territory and you will pay little for that, as payment is divided among all apartments.

Those are the common problems that they need to deal with knowing how big the obligation they are facing for buying their own house. People must know that this is also big obligation and as what I said earlier the problem didn't only stop when they buy their house, since obligations will continue to piled up.

If they are not ready with those consequences and they don't have much time to do small works then can't able to pay someone to do the job for them, I guess renting will be the best option for them at the moment.

Renting also does not solve that moment (if done for long period). Renting house for couple of weeks will do, but for a longer period, I doubt that house owner would come biweekly and cut grass or do something else, while you chill outside, do something outside or at work. In renting option, you can only ask owner for some assistance or contacts if something needs to be done with the house. Renting is imo a bad option as you turn into "a person who look after house and do all the maintenance, and pay for that".