Rent over buying of house?

[Agbamoni]

If you have the money to either build your own house or buy a house go ahead it is your choice and whoever thinks it not a good idea should remain in a rented apartment, it is funny sometimes to see the way people think, although i have heard from someone persons that said any house they are building will only be for sale or rents and there excuse is that it is better to leave in rented apartment and be marking money with your houses but that didn't go down well with me because as someone who can afford to go into housing, such person deserves to have his own personal house, so where is the liability coming from, you can actually sell such house anytime you likw if you don't longer like it and maybe buy another one or build, house is never a liability, I don't want to go into such confusion.

Renting an apartment is still better than owning an apartment. While leasing is better than rentals.
Let me explain. If you spend $300k in rental properties, in a year hope to get at least 10% of that amount in return. 2.5% of that amount will afford your rent every year. However, I am speaking as a young lad yet to own a family. If I have that amount to choose between going into rental properties or owning my own home, I will choose the first option.

[MFahad]

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?

Buying a house could turn into a liability unless you don’t consider the entire expense that comes with it. If the monthly mortgage payments, property taxes and upkeep costs exceed the amount of rent then owning that property would be sucking the life out of your wallet. For this reason, many young adults prefer renting, especially since mobility holds a high priority. Your home is only an investment when it appreciates in value or earns rental income  otherwise it becomes an immovable asset. So ask yourself  is stability more important to you than the freedom of choice? Altering your vision does not constitute failure rather, it is just another step towards making sound decisions depending on your life stage. Stability is not inherently wrong it is enforced permanence that is toxic.

[iv4n]

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?

In the "rent vs buy" debate, we can hear good arguments from both sides. As you wrote, there are pros & cons for both, so at the end of the day, it's not a philosophical question, it's a personal one. For some, permanence is a bad thing... others like stability, some careers mean a lot of moving, some paths are tied to one location. So basically, your own wishes/needs matter more than any general rule. It all comes down to what fits your life best.

[Synchronice]

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?

In developing countries (especially those who develop well with stability), it's worth to buy a house over renting but in developed countries like Germany, to my mind, it doesn't worth to buy a house, at least for me, for someone who prefers travelling and often changes accommodation.
Today people often change jobs and often move from city to city for a better job. To my mind, it's better to live in a rent if you care about your career than to buy a house and permanently stick to the same place. But the thing is, when you don't own the house, you can't ever stop working because you'll be left outside (in most countries).

[dezoel]

If you do own a business, that works, but otherwise it does not. The only reason why anyone should "rent" a house when they can buy one, is if you can use that money for something that helps you grow further.

Sure if you are building a business and it is getting great, then not buying house with huge chunk of it, and instead reinvest that into business to keep making more money, that would work. But that is literally the only reason, normally in 99% of the cases, buying a house if you can is better.

[Royal Cap]

Here I want to tell you what your financial situation is like. Another thing is what your lifestyle is like. If your financial situation is good and you can afford to buy two houses. Then it will definitely be better for you to build or buy a house, because with the money to build the remaining 1 house, you can travel anywhere you want.

However if we talk about the situation in our country, people here are more capital centric. As a result, people have to live in rented houses most of the time. Another big reason is money. Many people do not have the ability to build a house.  So they spend most of their lives in rented houses. But if you ask me which one is in favor then I will definitely be in favor of building a house. Because for me, security is the real issue.

[Jostern]

In this situation money would be the absolute solution, I don’t see any reason why an individual would have money to buy a house, instead of buying a house then you prefers to stay be renting a house, I think that would be a very terrible choice, personally I would be in a situation that I have an opportunity to buy a house when I have the money to buy a house and still be paying rent that would be a very disappointing thing to do by myself, and anybody who have money to buy a house and doesn’t buy and house and prefers to be renting a house and paying rent that is a very terrible thing.

[Salahmu]

That is why owning a house is always a dream for most people.

Yes, it should be a dream for people but that doesn't mean it's a better investment than renting. For me, owing a home is very significant and that's for the reason that I won't have to deal with irritants as neighbours who will intentionally be doing certain stupid stuff to get to one's skin. Imagine living in an apartment where you share amenities with others that will be paid for jointly. There are some who won't want to pay, thereby causing others the discomfort of getting cut-off that amenity. That's one of the major reasons people prefer owing properties than renting them. Those from my country will understand this better and clearly.

There are a lot of provoking experience in rented houses especially the ones that doesn't care how there actions affect the person on the next door, for those that likes rented apartment should only rent a place were two or there persons live because  is mostly on the crowded housee of tenant you will meet this kind of neighbors that would be creating problem all the time and there are some persons that would use there misc to inconvenience your privacy because of how loud they would turned it and no matter how you feel about it they will never listen, so I'm surprise some persons knows all this things but still prefer renting apartments.

[Swordsoffreedom]

~snipped-

Owning a house offer a double benefit, you can use it to live in, and it can also increase your wealth as real estate appreciates over time

Owing a house and renting one have the same effect of one living in them. You can also live in a rented apartment and make it a home just like a bought house. As for your second point, you can only have the benefit of increased wealth when you sell off that house. By then, you're still going to either rent or rebuy. So, we're still back to the same spot.

When you rent a house, you can use it as if you had bought it, but ultimately it is not your home. You do not have full control over it, such as making major repair, renovating or redesigning the space according to your preferences. To do that, you need to ask the landlord for permission. You are always at a passive position because rental contract may expire or be terminated abruptly if the owner needs to use it urgently.
You will not encounter any such restriction with the house you buy

When you rent a house, you do not own any property. You might even end up paying more in rent each month. Meanwhile, owning a house and later selling it, you can recover a much larger amount of money compared to what you originally spent to buy it

Owning a house always offers more advantages than renting.

[Tamaperdana]

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?

For me personally, owning a house is better than renting, because, in my opinion, owning a house is a very important thing for humanity. Because if we rent a house, how long will we do it? Maybe when we're young, renting a house can be done comfortably, but if we already have a large family, I think it will definitely feel uncomfortable. So, for that reason, I think owning your own home is clearly better than just continuing to rent. Because, in essence, although it's true that from an investment perspective, a house can be a complicated asset because we have to renovate and so on.

But for me, a house for me and my family to live in, I don't consider it an asset to be sold. Because, basically, it's a house where I have many memories, where my children were raised, and where I enjoyed my youth until now with my family. So, for that reason, I personally will not consider the house I live in as an investment asset. Therefore, in my personal opinion, owning a house is clearly more comfortable than having to rent. Because renting is also clearly more wasteful and that cannot be denied.

[Razmirraz]

In this situation money would be the absolute solution, I don’t see any reason why an individual would have money to buy a house, instead of buying a house then you prefers to stay be renting a house, I think that would be a very terrible choice, personally I would be in a situation that I have an opportunity to buy a house when I have the money to buy a house and still be paying rent that would be a very disappointing thing to do by myself, and anybody who have money to buy a house and doesn’t buy and house and prefers to be renting a house and paying rent that is a very terrible thing.

For some people, owning their own home still provides security and pride, while renting is often seen as throwing money away. This principle is in line with the world of finance and property "buying (when someone has cash) is always considered better than renting", but this is still a matter of debate because of several rational and strategic reasons why someone who can afford to buy a house in cash actually chooses to continue renting.

For some people, renting is seen as providing the freedom to move easily due to work demands without being tied to illiquid assets. They also have their own principles as to why they shouldn't buy a house for the time being. Perhaps if the cash that would otherwise be used to buy a house were invested in other instruments such as Bitcoin, stocks, bonds, or businesses that generate higher returns than the increase in house prices, then renting could be more financially profitable.
While some people consider renting a waste of money (in the context of asset ownership), the decision is part of a strategy and is considered the best option for others to maximize flexibility and other financial benefits.

[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

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.

Perhap you forgot that house/real estate are also asset, and essential assets at that with limited supply. Their prices have increased not only due to inflation but also due to high demand. Especially as the population grow and urbanization and industrialization accelerate globally. So, do not be surprised or upset when they spike like that.

Real estate like gold or Bitcoin, is an asset class that increase in value over time.

[Cheema02]

If you have the money to either build your own house or buy a house go ahead it is your choice and whoever thinks it not a good idea should remain in a rented apartment, it is funny sometimes to see the way people think, although i have heard from someone persons that said any house they are building will only be for sale or rents and there excuse is that it is better to leave in rented apartment and be marking money with your houses but that didn't go down well with me because as someone who can afford to go into housing, such person deserves to have his own personal house, so where is the liability coming from, you can actually sell such house anytime you likw if you don't longer like it and maybe buy another one or build, house is never a liability, I don't want to go into such confusion.

Your thoughts is accurate about the thinking of individuals and every individual have a dream to guilt his own house because a house gives you stability and peace. But house never becomes the assets which produce wealth but its needs proper maintenance and also we pay taxs on houses and also becomes the financial stress with time. Some individuals have different mindset like they prefer to pay rent of apartments. And both approaches are not bad and its depends on the mindset of individuals. And the actual thing is the balance among these approaches like if an individual have money he should buy house and also invest money in businesses or in many other assets. In this way we get personal peace and also growing financially.

[Nanga Parbat]

Some time people used to prefer the rent for few times before buying the house. It's a good approach , it allows you to check the neighbors environment cost of living and condition of the society. This experiment of renting give us help in  taking right decision. Because only buying a house is not enough it is also important to take full information. Otherwise if the environment is not suited you then buying a dream house can becomes costly in the sense of mentally stress. A house is not just a structure, surrounding is also equally important. Mostly mental peace is attached with our dream house. That's why experiment before buying house is important or it is possible only if you are renting a house.

[Mate2237]

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?

Op which country are you from because I don't think that anyone will be preparing renting a house over actually owning one, no I don't think so. One of the things that makes you to be more secure in any society is owning a house if you don't have a house you are more of a glorified refugee who will be moving from one place to the other changing houses and been constantly harassed by landlords or property developers. I don't see the logic behind your argument about renting a home over actually owning one .



Your house is actually an investment that you are doing for yourself, so if the money is there you buy your house or build one depending on which one will be cost friendly to you, the young people you are referring to as preferring renting a house over owning one are only taken over by youthful thoughts and may not fully understand what it means

[EFS]

It's a must to own a house you live in. There's no cons for owning a house. Why would you say that? You can't renovate or redecorate the house you rent however you like. If you lose your job, you won't be able to pay the rent and you'll end up on the streets. Anyone who says renting is better than buying a house is lying. Young generation can't afford a new house so they believe things like this. And whoever says those things manipulate this young generation.
The first house is a necessity, others are luxury. If you're buying a house as an investment, that's whole another topic of discussion.

[tabas]

In the "rent vs buy" debate, we can hear good arguments from both sides. As you wrote, there are pros & cons for both, so at the end of the day, it's not a philosophical question, it's a personal one. For some, permanence is a bad thing... others like stability, some careers mean a lot of moving, some paths are tied to one location. So basically, your own wishes/needs matter more than any general rule. It all comes down to what fits your life best.

This is it, depending on the lifestyle or the career of the person. So, it's true that this is a personal one that if you like moving at all times and you stay from one place for a couple of months then renting is the ideal one. There are people who likes to travel a lot and renting is their way of staying in the place where they like it. Especially for digital nomads, they like to move from time to time wherever they like because as long as they like the place, they'll rent a house there that they can stay for however long they want.

[Botnake]

I think we should not make things complicated.  Buy a house when you are able, but stay renting if your finances do not allow to. You don't have to weigh things which one is a smart choice because at the end of the day, we need a permanent shelter for us and our family, that we can't get evicted even if our pocket is empty.

But if your doing this for a business purpose, then the more that you have to buy a house and make it a rental business. That way, you will have a consistent flow of income even if you're sleeping the whole day, but make sure also that you have your own permanent, safe space before you offer safe space to others. Know your priority first.

[STT]

Is owning a house now a liability?

It was always a liability due to maintenance  costs, the only true asset part is the land.  Mortgage is a debt liability and so on, taxes due dont help.  
   So why would anyone take on all this?    It is due to the standing liability any person has which is a requirement for personal accommodation & rental or home costs.

   So only by comparative advantage is the cost of buying a house justified, its variable so renting could easily be the best choice especially if you can offset taxes or receive rent via a business cost perhaps.   Some people do this maybe airline pilots and travelling sales people will rent.    The other massive reason to rent is falling house prices, I have no doubt with demand greater then supply but that leaves price still possible to drop as people borrow to buy.

  If you know the price will drop as people have less money, you will rent and do better by renting then holding these liabilities.  Land appreciation is very long term and can be a century scale gain.

[Joeboy]

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 how owing a house becomes a liability, whereby there are options to either lease or rent it out or even sell it if that individual plans to relocate to another location...Owing your house give you freedom, and to be honest, anyone who still prefers to stay in a rented apartment simply lacks the money at building a new house, so instead of accepting that, they will then come up with series of excuses as to why owing a house is bad and whatnot...House rent these day are very expensive, expensive enough that most people can't even afford it, and so they begin living under the bridges, sleeping by the road side and in dump sites ... If these homeless guys have the opportunity to own a house do you not think that they will grab it like their life depends on it.

Is owning a house now a liability?

It was always a liability due to maintenance  costs, the only true asset part is the land.

Folks in rented house also does maintenance from time to time, without even involving the Landlord... And so if 'Maintainace Cost' is the reason why anyone would object to owing a house of their own, then that's wouldn't be the best of ideas...