Rent over buying of house?

[Oluwa-btc]

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?

Grandma always said there's nothing like having your own. It comes with peace and also respect. I doubt that, they just don't have enough to get their own.
Mobility shouldn't be no issue, if you're to make a long move, why not leave them to the hands 9f a trusted family member. It's having your won house over renting come rain come sun.

[Stalker22]

Is owning a house now a liability?

Deciding if a house is more of a money-maker or a money-pit really depends on your own numbers.

If you find that your monthly payments for the mortgage, property taxes, and all the upkeep add up to more than what it would cost to just rent a similar place, and your house value is not increasing faster than something like the stock market, then its probably not a smart investment.  Thats pretty much it.

~
Younger people don't "choose to rent", they just can't afford anything else.

Yeah, absolutely!  It is not really that younger generations "prefer" renting over owning a home.  They are just dealing with a housing market thats way too expensive, and being flexible with where they live is often the only way they can go after better-paying jobs.

[Nahl]

In my country if there is a person who don't have a house potentially they will rent the house for their life and in the productive age especially if you have regular jobs with good salaries renting the house is not a big deal that because the costs of renting house is pretty cheap even the people only spend less than 10% from their salaries monthly to pay rent but the problem comes when the people starting to pension because pension mean no jobs and renting a house is not possible again because people have unable to pay

That's why usually before the people pension they will save their money the goal is to buying house for their old age because for some poor people having house can solved some of their problem besides that in the old age the people won't life became an homeless and they want life with peace without thinking about to rent house anymore but the most problem is property prices is always increases rapidly which make some people have unable to buy it because too expensive

[AakZaki]

But I have heard that younger people nowadays prefer renting over actually buying a house. Because of mobility being the priority.

Actually it's just a matter of time, which young generation doesn't want to have their own home? I guess if there are indeed young people who don't want to buy a house when they have the money to buy it, that's a ridiculous move.
My parents always reminded me that the land or land is "Black Gold", especially those that have a house building.

The problem of young people who don't think about owning their own house, maybe because they don't have enough money to buy it and it's normal when they're still renting. But don't be complacent to continue renting, because as you get older, what is needed is comfort, just like being at home.

[Jubilee58]

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?

On my own part, I believe owning a house is still better than renting a house. The cost of renting a good house is very high, and people who are not buoyant enough, and some are relocating to other places where there money can afford, and sometimes these less expensive areas lack basic facilities like good roads, steady electricity, and even security. When you own your own home, you set yourself free from the problem of landlord more especially when you have good number of years to live in a particular place. For instance, you are in a place for twenty to 30 years, and you are doing a good job, the cost of renting a house for these number of years can even build you houses their depending on where you are living, and how much you are paying as rent. Even when you want to leave such place you can still give out that house for rentage while you leave.

Renting a house is not wrong, but it should be on the ground that you are not staying so long in a place, otherwise building your own house remains the best thing to do.

[Faisal2202]

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?

I would prefer buying a house because in my perspective, if you buy a house, you will save more than you can spend in your entire life on rent. It depends on the culture and the taxing system but we do not have to pay much in taxation here and that is why buying a house is a viable option. You will at least have something to leave as an inheritance to your next generation too because who knows how the future is going to be for them. If we can make some effort now and give them some relief then why not?

Because some developing countries are behind developed ones in terms of time we notice that in developed countries, buying property and a house is not so easy for an ordinary person. If you can buy as an ordinary person in a developing country then you must do it before it gets too late.

[Pablo-wood]

Because of mobility being the priority. Plus, a house is only profitable once you sell it. But otherwise it’s stagnant.

A house is stagnant but it saves one the cost of paying yearly rent, it also gives future generation a house to start their early days with while the work to either buy theirs or build, besides there are modular houses that can be dismantled and mounted anywhere else provided there is a land readily available to accommodate the building. Owning a house is always profitable be it when the owner stays in them or decides to sell them off. Rented apartments this days costs so much that it no longer advised to remain in them for too long, I rather buy a single room apartment and stay there comfortably than stay in a rented apartment for years.

[Stormisover]

To me, I will say it’s depend on your nature of job. If you are the type that change location frequently, then renting will be better for you, as you will have more flexibility in movement than when you buy are house, as this will only benefit someone without a family. But if you have a family you will have to get a place you call home, which the best is for you to own a house, because if you own a house your family will be at peace if mind, even if there don’t  have much money, there will not be on the fear of going homeless or anything like that. So to me, I will say it better to own a house if you have a family for their peace of mind. While if you are still struggling and traveling rent will be better off.

One thing to know is that buying a house gives you ownership that's if you have the money to buy a house regardless of whether you are the type that changes location or not, married or not married am speaking my mind, even if am not married and I have the money to buy a house I will including if I change locations frequently, what I will do is to rent my house out at period I will not be around and I will also rent an apartment over where I travelled to, there is nothing wrong being a landlord at one place and also being a tenant at other places, the whole of this is based on personal interest and circumstances.

[Bluedrem]

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?

Owning your own home is not just a place to live, it is a symbol of security for you. If we analyze the issue in the context of my country, then one of the main dreams of a young man in my country is to build or buy his own home. Those who do not have their own home cannot understand how much freedom living in your own home gives. The issue you brought up about changing your home is that even if a person has their own home, it is still possible. A specific home means a specific shelter. At the end of the day, no matter where you are, you can spend some time in a peaceful nest when you return home. Also, you do not have to pay extra money every month in the name of house rent.

[r_victory]

I've heard this a lot, and the answer, in my opinion, is: it depends.

Everyone has their own life goals. Many say they prefer geographical freedom, but owning a home doesn't stop them; in fact, I think that even if they want to move to another place, they can rent the house to someone else and thus have extra income for new expenses. The wealthy, those who can buy a house outright, don't do it because with the invested money they can continue to profit and pay in installments. I own a house, and it's better than having to pay rent, paying for something that will never be yours. It would be preferable to pay for a house in installments and know that one day it will belong to you than to pay for one for years and not own it. Rent here in Brazil is practically the entire salary of the average worker, and, depending on the situation, it's cheaper if they finance it, as we have social programs for this purpose. It's not perfect, but, if used well, it can be advantageous.

I don't think it's a risk; if you have the means, the real estate market is a great investment option.

[Bitcoin.com97]

Owning a house is alway the best and can  not be over emphasized, the comfort that comes with buying your own house cannot be compared to renting , in my own country the rate at which landlords increases rent is annoying, what is trending now self , if you renovate your house to your taste after some months a Letter will be serve to leave the apartment, there is nothing that can be compared to having your own comfort zone without stress from anybody, I’m a big fan of buying a house instead of renting, even if my job requires another location , I will have a house in my state , whenever I’m back , I know it’s my own .

[Egii Nna]

One thing to know is that buying a house gives you ownership that's if you have the money to buy a house regardless of whether you are the type that changes location or not, married or not married am speaking my mind, even if am not married and I have the money to buy a house I will including if I change locations frequently, what I will do is to rent my house out at period I will not be around and I will also rent an apartment over where I travelled to, there is nothing wrong being a landlord at one place and also being a tenant at other places, the whole of this is based on personal interest and circumstances.

Everyone has his own reasons for giving his opinion. Like for me, I can’t give my private space out for rent, even if am not around, because no matter what I will have to keep some important documents there, that it how I see it, that is why I said, if you are not yet settled and you want easier movement, owning a house is not an option for you, as when ever you are moving you will take all your necessary and important documents with you.

Am not say renting out your own house when you are absent is wrong, but for me, that value my privacy I can’t do that, if really I want to be a landlord, I will rather start real estate by buying properties just for rent to get more revenue there. But that is not the main course of discussion now.

[Obulis]

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 difference between owning a house and renting a house is very very clear. When you say mobility being the priority, that explains the mindset which is just the problem not because renting of house is in any way better than owning a house. To think of it, what sense does it make that you have enough money to afford a house but choose to be renting because you intend to live in all the places or any place you decide to live in, just packing from one place to another with the mindset that mobility is a priority.
There are different reasons for relocation, moving down to another town can't just be because you want to move down.

Well the point is quite simple, deciding to keep renting a house instead of owning a house is a personal thing. But personal things like this usually gets people into shambles that they should not have been into.

[Z_MBFM]

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?

When you rent a house, you have to pay a certain amount of rent every month which is not considered as your asset. But if you build a house or buy a house, then you can live there, this is a benefit and as time goes by, the price of land and house property will increase, which will increase the value of your asset. The population in the world is only increasing, so as time goes by, the price of land and house property will increase because it is a basic need. Everyone definitely needs a house to live in and to meet that need, people buy or rent a house according to their ability. So I would say that buying a house is definitely much better than renting a house. Because besides living here, you can own an asset whose value only increases.

[aioc]

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?

Owning a house is a big asset and source of security. It's a security because if you are out of a job or your business is not doing well, you have no rent to think about.
It's an asset because if you own a house, you can subdivide it and rent it; it's very different here in our country. If you live in a city, even if it's a small house, it's considered a big asset, and you are well secured.
Every household's dream here in our country is to own a house they can call their own. If you are renting, you are under the rules of the owner of the house; you have complete freedom if you are the owner.

[Odogwu-Blockchain]

Owing a house is a liability if you aren't staying in it, if there are many rooms empty without children in them. As an individual finding way for housing family, he needs to own a portable 2 bed room flat for his family for security reasons, building extravagantly isn't proper at all, that's purely liability, wastage of home.

Also renting should be economical too depending on the number of family available, if you are single, a simple self contained apartment is enough, if you are combined with a wife, self contained is also good. But adding children into the picture should be upgraded to 1 bed room apartment for economical purposes too.

It's best to maintain the 1 bed room untill you could save enough to own a house for your family to win the homelessness challenges.

[ColdLava40]

Younger people don't "choose to rent", they just can't afford anything else.

Speculations or fact?

Not all younger people can't afford a house. Some take their money into investment instead of putting it all into asset that do not appreciate in value.

If they can acquire land, then find. Land appreciates, then in the future when they are ready, they can sell or start building.i think young people are only distracted by reality.

They know what they should be doing but instead spend money on things that are just vanity. It's never too young to own properties as a young man or woman.

[uneng]

Younger people don't "choose to rent", they just can't afford anything else.

Speculations or fact?

The idea generation z can't afford acquiring a house has been spread across internet until becoming common sense. What happens is that the younger generation doesn't want to work because payrates are low, doesn't want to acquire affordable houses because they don't look like the ones promoted by the social influencers they are fans.

Media, culture, politics and generation x's parents spoiled the younger generation. It was created a world of fantasy on their minds which reality doesn't sustain, so if they can't have the house of their dreams immediately, they aren't interested in anything else. But instead of saying so, they simply say it's not possible to afford anything...

It's like the child who has something denied by the parents and start crying and claiming no one loves neither cares for him.

[Churchillvv]

Over here permanence is the good part, renting is not too good. But for other countries renting might be more profitable. The younger generation have a way to do things now and AirBNB is now a thing so if you still own a house and you think you’re moving and the stationary part is your problem you can rent out on Airbnb then use the rent to rent a place in the new area where you’re moving to, so you still own yours and able to make profit from it while outside.

[ejikeme24]

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?

I think they are not just saying that because they feel it's a lability but it's because they can't afford it, yes I often see people talking about house being a lability then I will be like, does this people even know what they are saying? House is not a lability it's also part of investment take for instance those that build houses and just convert it to rentage I'm sure they are making their money and before the next 10 -15 they must have recover the whole expenses they while building the house, for me I feel like building a house is more better than renting even though it's just a living house.