Rent over buying of house?

[retreat]

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

Buying a house isn't easy. With most people's limited salaries and sky-high housing prices, few can afford it at a young age. While some can afford it, they either earn a decent salary and have been able to save from a young age, or receive help from their parents.

Because of this, not many young people can actually afford to buy a home at their age due to financial constraints and the various living expenses they must meet. Therefore, renting a house makes more sense while saving in the hope of buying a home in 10 or 15 years.

[batang_bitcoin]

Is permanence now a bad thing?

It's not, it's even a dream of the majority. But it can be understood that there are people who have patience and they can't have it yet. And that's why they're paying their patience through renting. If there are people who would like to rent forever, they might have some other plans that could be better than owning a house and that's to move from one place to another or country to country. We only live short in this world and that's how they're maximizing their stay through moving to places. Although owning a home is still hitting us differently, it's a dream for all of us since we were kids.

[abhiseshakana]

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

Buying a house isn't easy. With most people's limited salaries and sky-high housing prices, few can afford it at a young age. While some can afford it, they either earn a decent salary and have been able to save from a young age, or receive help from their parents.

Because of this, not many young people can actually afford to buy a home at their age due to financial constraints and the various living expenses they must meet. Therefore, renting a house makes more sense while saving in the hope of buying a home in 10 or 15 years.

Based on my experience buying land and building house, my first and major consideration are healthy cashflow and not ruined plan that i have made previously. When I want to buy land and building house, i try to find new additional income and i choose Sharia compliant home ownership loans. So for people who doesn't have stable income who not have emergency fund saving and can not live under pressure, i suggest renting for sanity and peace of mind. Do not push or rush to buy house because its not only about monthly installment but we must prepare deposit payment, tax and transaction cost, renovation and relocation also need big expenses and please consider it is not liquid. You can make check list, if buying house makes you can not do saving, can not spare for your emergency fund saving and after that you live paycheck to paychek do not buy because a house is too expensive for your financial healthy and safety.

[EL MOHA]

Because of this, not many young people can actually afford to buy a home at their age due to financial constraints and the various living expenses they must meet. Therefore, renting a house makes more sense while saving in the hope of buying a home in 10 or 15 years.

This is exactly what is happening now, Everyone definitely wants to own a house but not everyone have the financial capability to actually own a house and this is the clear truth. The reason why young people this days are prioritizing renting than before is not that they don’t want to own a house but they do not want to do it in the traditional old method. This old method is that people save money and use all this their life savings to buy or build a house and at the end of the day they don’t have any money left.

What this more than generation does is that they actually use that money or saving to actually make a income for themselves and then after they buy a through this their savings and this to me is definitely a much better way as sets one up properly when they eventually retire

[sunsilk]

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.

It is a liability if you're paying the mortgage for how many years. It won't be called as an asset unless it's yours already and paid in full.

People would just like to have a safe space for themselves and even it's a liability for the others, they'll take it and be safe in their homes.

There's no place like home, it's true. But getting a home now is so expensive, having one job isn't enough because you'll need to have 2-3 jobs until you find 1 job that pays it all.

[JoyMarsha]

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?

This doesn't call for a debate of any kind for renting a house to be better than owning a house.

Any younger person preferring to rent a house rather than own a house. Have they thought about old age, when they can't hustle as they used to, when they were young? I am sure that no one would remain young forever. There will be times when the money will not be there, and the paycheck will not be the same

It is not better for someone to plan ahead of time before they are set packing at an old age due to no structure they could call their own. It is not certain for someone to have mega money before they can build a house. They could start up small, over time like years, they will have roof over their head. The most important thing is to make a step, such as acquiring a cheap piece of land. Everything else will fall in between the future

[TheUltraElite]

It not preference but a forced decision because of the housing bubble.

Owning a house is necessity and beyond that you can think about buying but obviously the cost is going to be a lot by now. Rented living is fine for a short period of time because rents are also going to increase with time and it does not give time to personal growth of family if you are constantly changing houses.

Save money and buy a house once it becomes financially possible.

[shinratensei_]

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?

House is not a liability if it's not too big and not too remote, actually it's an investment for me. If you could buy one and still have none, it won't hurt to get one.
I'm myself starting to doubt about renting, landlords keep raising the price due to some excuses like "inflation" but all things considered they want to make more money and the world has never been this greedy.

Since inflation rates are so high, I think maybe mortgage is better than renting in this day and age. At least once the mortgage is all paid out, you own a piece of land that appreciates overtime.

[Pi-network314159]

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 don't see reasons to why a young man who has money will dream to buy a house instead of building it, or trying to rent instead of building. I think a young man who can't afford to build house nor buy a house  will decide to rent an appointment to maintain his eago. This youngimen of this generation are having outdated mentality, spending recklessly in clubs and hotel, buying expensive cars and leaving a luxurious lifestyle. But when you tell them about building of hose and investment they tell you renting an apartment is better than building. Most of them will realize their mistakes when it's already to late.

[Mpamaegbu]

The argument of owing or renting a house is neither here nor there. The choice on what to do depends on who is involved and what condition is prevalent to them at the time of making their choice. I don't want to believe that any decision is better than the other on this. For instance, it costs more to own a house but in owing that house it may guarantee you the unnecessary issues of living in a public rented apartment with neighbours. In renting, you pay less and can easily move to a better environment once you're fed up with your current location or when circumstances of your job demands it or of any other inconveniences that may arise. Notably, it's the fact that you may not even spend half of what you will spend on owing a house on renting before passing on. This is to say that owing a house also ties up your capital.

[Ayers]

I'm myself starting to doubt about renting, landlords keep raising the price due to some excuses like "inflation" but all things considered they want to make more money and the world has never been this greedy.

If you were the landlord instead of the tenant, you would understand why they do that, and I believe you would do the same.

Inflation is steadily increasing, the currency is losing value and price of most goods are rising. It is not surprising that rent and real estate price also rise accordingly

Since inflation rates are so high, I think maybe mortgage is better than renting in this day and age. At least once the mortgage is all paid out, you own a piece of land that appreciates overtime.

This will depend on your job and income. If you have an unstable job or low income, buying a house on installment payment can create a significant financial burden.

[junder]

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?

If you look at it from a comfort point of view it seems that owning it is more certain than renting it, but seeing the reality now that many young people are working, especially when they are far from home, of course they rent a house to survive and some are given housing facilities by their companies so they don't rent. In addition, in my neighborhood there are also many people who are married and their situation is that they survive by renting a house because it suits their abilities at that time, but even so I think the desire to own their own house must exist.

[jcojci]

If you said become a liability, some people will feels that but if they thinks that owning a house is their priority, they will not say that is a liability because they will still works and earn money.

They starts by renting a house. They saving more money, make a plan and if they have enough money, they will buy a house. That is the things happens here for new couple who marriage.

Younger people might not thinks that owning a house giving benefits and only thinks simple. They don't have to pay the house tax and only need to pay the rent. But we should understand that the situation and condition in others will be different.

[viljy]

The trend when people (especially young people) prefer to rent a house instead of buying is indeed observed. But this is not due to the fact that renting is better, but simply for financial reasons - the inability to buy a home. An alternative option is a mortgage, which is essentially debt slavery in which the overpayment can reach x5 (five times) or even more of the cost of housing. At the same time, renting gives you mobility, which means you can find more profitable ways to earn money. This is especially important in youth. People understand this and strive to earn money so that someday they will be able to buy their own homes (which not everyone gets).

[Byebyebtc]

The Young people you are referring to probably don't have enough money to build or buy a house,
Because it's simply better to own a house than renting it.

And if you are building a house you can also attach a mini house along for rental and that will be an investment attached with your security which is your house

[Darker45]

It actually depends on your circumstances and preferences. But, yeah, mobility will be affected by having your own house. However, I don't see this as a big problem. You can always rent it if you want or have to move residence. You can also sell it if you don't have any plans on running it as a rented property or even moving back there in the foreseeable future.

A house depreciates over time. Although it might grow in value in the short or medium term, it'll eventually be declared unsafe to live in the decades to come. Keeping it in perfect condition requires regular maintenance. That means it isn't just stagnant; it has a cost. But it generally depreciates. The piece of land on which it is built is generally appreciating, though.

So, owning a house is an important decision that not everybody has to make.

[Iranus]

It actually depends on your circumstances and preferences. But, yeah, mobility will be affected by having your own house. However, I don't see this as a big problem. You can always rent it if you want or have to move residence. You can also sell it if you don't have any plans on running it as a rented property or even moving back there in the foreseeable future.

In my opinion, whether or not to own a home depend largely on one’s financial situation. Most of us are hesitant between buying and renting because our financial situation does not allow us to own one or more homes. The other reasons are just excuses.

A house depreciates over time. Although it might grow in value in the short or medium term, it'll eventually be declared unsafe to live in the decades to come. Keeping it in perfect condition requires regular maintenance. That means it isn't just stagnant; it has a cost. But it generally depreciates. The piece of land on which it is built is generally appreciating, though.

So, owning a house is an important decision that not everybody has to make.

When you own a house, not an apartment, you own a property with the potential to appreciate. Real estate is an essential asset class, and its value only increases over time.

Although home maintenance can be costly, it is still much cheaper and more worthwhile than renting.

[Coin_info]

I'm myself starting to doubt about renting, landlords keep raising the price due to some excuses like "inflation" but all things considered they want to make more money and the world has never been this greedy.

If you were the landlord instead of the tenant, you would understand why they do that, and I believe you would do the same.

Inflation is steadily increasing, the currency is losing value and price of most goods are rising. It is not surprising that rent and real estate price also rise accordingly

It is expected that the rentage of properties increase based on inflation but the problem is the rate at which some property owners are raising the rent of their property, some to ridiculous amounts that they know will put their tenants in a really difficult situation.

Or tell me, is it not wickedness for a property owner to raise the rate of their property by 120%? If you own a property, you will not have to bother about that and that will create extra money for you that you can invest in other things.

[Smack That Ace]

The trend when people (especially young people) prefer to rent a house instead of buying is indeed observed. But this is not due to the fact that renting is better, but simply for financial reasons - the inability to buy a home. An alternative option is a mortgage, which is essentially debt slavery in which the overpayment can reach x5 (five times) or even more of the cost of housing. At the same time, renting gives you mobility, which means you can find more profitable ways to earn money. This is especially important in youth. People understand this and strive to earn money so that someday they will be able to buy their own homes (which not everyone gets).

I would not call it a trend, rather, they had no other choice.
In fact, the main reason people are increasingly choosing to rent is due to financial reasons. With a growing population, the demand for real estate is increasing and prices are rising faster than most people's incomes. This makes buying a house more difficult, and even an impossible task for people with lower income. Meanwhile, taking out a mortgage is fraught with challenges and creates significant pressure, and not everyone is willing to accept it.

In this case, renting is not a trend or a choice, but a forced and only solution.

[Olatundespo]

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?

Some people live in rented houses because they do not have their own homes in that area. If you have a house in the village and have to stay in the city for work, then your first choice will be a rented house. If you have the funds to buy a house in the city, you may not want to live in a rented house. Having a house means that you have wealth and social status.

Some people live in rented houses even if they have sufficient funds because they prefer to invest with the available funds because investing is more profitable than earning income from renting a house. But I have seen many people who consider their house as a fixed asset and earn income from renting it. I think their strategy is relatively wise because many people do not want to take risks in investing and rely on a guaranteed income from a fixed asset.