Rent over buying of house?

[Makus]

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.

You have a point, owning a house is a necessity and there are no cons to it, this is actually one of the best investments that anyone can ever have but the problem here is that most people cannot afford it especially in this generation because it costs a lot to start up a building project due to the economic situation or the inflation. Building a house requires a moderate and stable income, there are people that started doing this but at some point they ended up abandoning it because they didn't have enough money to continue. Think of owning a house only when you have the capacity to do that.

[Minor Miner]

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.

You have a point, owning a house is a necessity and there are no cons to it, this is actually one of the best investments that anyone can ever have but the problem here is that most people cannot afford it especially in this generation because it costs a lot to start up a building project due to the economic situation or the inflation. Building a house requires a moderate and stable income, there are people that started doing this but at some point they ended up abandoning it because they didn't have enough money to continue. Think of owning a house only when you have the capacity to do that.

I agree with that view as well. Buying a house is not a burden, a debt, or a lockup of our capital as many people say. Anyone who gives similar reason and claim that owning a house is not more beneficial than renting is lying. No offense intended, but those people are deceiving themselves and denying the reality that they cannot afford to own a house.

Let's look at the reality: most people who own real estate, house, and land are wealthy individuals, millionaires, billionaires...and they are generating huge amount of passive income from them. It is ridiculous to say that owning a home is a burden, or any similar reason.

[Hewlet]

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

Availability of resource is the main factor that's responsible for making either of such choices and in either case, the option of buying a house comes with an high level of financial prowess and for that, not any kind of regular dude can just buy a house like that just because he wants to.

If the resource were to be available, buying a house is actually a good thing and gives the buyer the right leverage in managing his income considering that the cost of rent is increasing so highly and one that owns an apartment saves himself from any form of stress that comes with staying In a rented apartment. But that being said, renting a place is the most convenient way a youth that's just starting his life can cope with. In the long run, it's possible to adjust and buy a house or even build one for yourself.

[Zackz5000]

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.

You have a point, owning a house is a necessity and there are no cons to it, this is actually one of the best investments that anyone can ever have but the problem here is that most people cannot afford it especially in this generation because it costs a lot to start up a building project due to the economic situation or the inflation. Building a house requires a moderate and stable income, there are people that started doing this but at some point they ended up abandoning it because they didn't have enough money to continue. Think of owning a house only when you have the capacity to do that.

I agree with that view as well. Buying a house is not a burden, a debt, or a lockup of our capital as many people say. Anyone who gives similar reason and claim that owning a house is not more beneficial than renting is lying. No offense intended, but those people are deceiving themselves and denying the reality that they cannot afford to own a house.

Let's look at the reality: most people who own real estate, house, and land are wealthy individuals, millionaires, billionaires...and they are generating huge amount of passive income from them. It is ridiculous to say that owning a home is a burden, or any similar reason.

In a situation were there is no money at the moment to build a house one can actually rent a house and plan of building there own house, sometimes our nature of work can us to be renting house a work were you are been transfer from one location to another but most importantly its better to own a house in your home town so when ever you are at home you know that you are in your own house without been in a rented apartment paying huge amount of money, sometimes if we calculate what we spend annually in paying for an apartment one can build a home of their own.

[bangjoe]

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 seems to have been followed by many young people in many countries.
Renting a house when still starting a business or working in a distant place is indeed better to have a rental house first because we don't have children who have to go to school and or have a stable business / job and will develop in the same place for a long time, therefore renting a house is a solution for temporary housing, honestly buying a house is too big a maintenance cost especially when buying a house the costs incurred are very large, I don't recommend a home mortgage especially with a bad situation.

[Inwestour]

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 we’ve discussed this here many times already. And as many people as there are, there will be just as many opinions. I see that the younger generation is more inclined to rent housing. But I think this is because when you’re young, you don’t need a large living space, especially if you live alone or are just starting a relationship, a small place that is relatively inexpensive can be enough and quite acceptable. But when you have children, you need a bigger home, and renting such housing becomes significantly more expensive. And if you’re paying a large amount for rent every month, eventually you start thinking about owning your own place.

[bakasabo]

Renting a large house for a long period is something I still dont get. What are the benefits of doing this? In place where my parents live, there are several houses that are houses that people rent for 3-5 years, and they are family of 3 people. I have checked prices and on average they pay about 2-3k EUR per month. They could have rented apartments 100-120 m2 for a less price and still have specious place to live. Besides paying 2-3k per month, they still pay bills, they still have to move snow, cut grass, do some maintenance and etc. If they want a private place to chill during Summer, they could have rented house for few weeks. But paying 3k EUR per month during years... That is 180k. They could have purchased a bit smaller, but their own house for that money.

[rezakurnia66]

Nice question about rent over buying of house? Nowadays many people with difficult financial condition and buying house with fully payment actually not easy so make option rent house with payment monthly. Most of our citizen in Indonesia spending almost 20% from their salary for renting house but buying house with lower salary not easily. In my opinion during still not good financial condition better rent than buying of house you must prepare much money indeed year by year price of house get significant increasing, take option buying house with installment way not good choose because we must paying up to 200% than normal price and needed twenty years for paying fully.
I am at position rent house for awhile during keep saving my salary one day later to buy house, buying with installment way I don't think good ideas because we must pay more higher and expensive than normal price.

[Fortify]

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?

Your first house is your security.
Your 2nd, 3rd and so on - are investments. That's it.

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

"Choosing" to rent when you actually CAN afford a house because you think the market is overpriced is basically shorting it while your rent payments are like funding to keep your short position open and that involves typical risks.

It's sad that people consider homes as an investment asset and is probably one of the major problems with society these days. There are so many business and investment opportunities out there, but residential property should not be one of them or it should be limited at most to three homes maximum per beneficial owner. A large reason for young home owners struggling to afford property is the fact they are used as assets for generating profit, rather than a necessity that people need to live. Many renters would likely become home owners if the prices were lower, but they are trapped in a perpetual cycle of rising prices because vultures are amassing hundreds of houses to make millions in profit every year.

[9ja Amaka]

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 owning a house if you can afford it is way better than renting. I am talking from my country's perspective.  The amount you pay for rent is very high in my county,  so if you are making good money and you can afford to buy a house, why not get one and convert the money you are paying for rent to investment. Your house is also a security and it will always appreciate,  even if you decide to sell in the future,  you will definitely get way more than the worth you bought it, so I will definitely advise anyone that is capable to buy a house to do so immediately and safe yourself from working for your landlord.

[DYOR+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?

Owning a house is not a liability rather an investment, but it's unfortunate that some people with retarded thinking or mentality believe it's a liability when its not. Those who think of renting instead of building a house are just broke or they are delusional. Because I know about some people who believe that if they die, all their asset including houses will be inherited by people who don't know the value. This makes them to see renting as then best option while building is a waste of money, But of course that's a big lie. If house is a liability because it's stagnant and not Mobile, what about those house they rent, is it not human that built it? If those that build house for renting had that mentally of liability, how would they see where to rent?

[ruykeri]

Nice question about rent over buying of house? Nowadays many people with difficult financial condition and buying house with fully payment actually not easy so make option rent house with payment monthly. Most of our citizen in Indonesia spending almost 20% from their salary for renting house but buying house with lower salary not easily. In my opinion during still not good financial condition better rent than buying of house you must prepare much money indeed year by year price of house get significant increasing, take option buying house with installment way not good choose because we must paying up to 200% than normal price and needed twenty years for paying fully.
I am at position rent house for awhile during keep saving my salary one day later to buy house, buying with installment way I don't think good ideas because we must pay more higher and expensive than normal price.

Although I don't know about the situation in your country or area but  buying a house on installments may not always be a bad decision. Because if you buy a house on installments, you will no longer have to pay rent. If you can pay some extra money along with the rent on a regular basis, then you will eventually own the house. And if the price of the house increases over time, the valuation of your property will increase. If you have to pay 200% more in installments, the value of that house may increase by 400% over time. I don't know how much house prices increase in your area, but I gave an overall opinion.

[fredericktaylor]

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 owning a house if you can afford it is way better than renting. I am talking from my country's perspective.  The amount you pay for rent is very high in my county,  so if you are making good money and you can afford to buy a house, why not get one and convert the money you are paying for rent to investment. Your house is also a security and it will always appreciate,  even if you decide to sell in the future,  you will definitely get way more than the worth you bought it, so I will definitely advise anyone that is capable to buy a house to do so immediately and safe yourself from working for your landlord.

Every person is different so it is normal for every person to have different perspective. I think buying a house or rent it completely depends on a person's financial situation and mindset. If our income is relatively more than our expenses and we have full ability to buy a house then of course I am in favor of buying a house. If I have the ability to buy a house then I will never live in a rent house, I will definitely buy a house and stay there, buying a house is never a wrong decision it depends on your mindset and financial situation.

[Yeesha]

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 owning a house if you can afford it is way better than renting. I am talking from my country's perspective.  The amount you pay for rent is very high in my county,  so if you are making good money and you can afford to buy a house, why not get one and convert the money you are paying for rent to investment. Your house is also a security and it will always appreciate,  even if you decide to sell in the future,  you will definitely get way more than the worth you bought it, so I will definitely advise anyone that is capable to buy a house to do so immediately and safe yourself from working for your landlord.

Every person is different so it is normal for every person to have different perspective. I think buying a house or rent it completely depends on a person's financial situation and mindset. If our income is relatively more than our expenses and we have full ability to buy a house then of course I am in favor of buying a house. If I have the ability to buy a house then I will never live in a rent house, I will definitely buy a house and stay there, buying a house is never a wrong decision it depends on your mindset and financial situation.

Owning your own apartment brings you peace of mind, and it has several advantages apart from that. Building your own apartment only requires one term expenses, unlike renting a house that you have to pay thousands or millions of money annually depending on which you rent. So don't think that within five years you must have spent a lot of money in rent. Some people thinks that renting a house is cheaper than building your own property, but in reality owning your own apartment is much more cheaper than renting an apartment. To receive financial support from other people these days is extremely difficult, because everyone is busy solving their own financial problems, just to ensure their own stability. The most important thing is to manage what you have at the moment, and focus on how to build your own apartment gradually.

[Salahmu]

Although I don't know about the situation in your country or area but  buying a house on installments may not always be a bad decision. Because if you buy a house on installments, you will no longer have to pay rent. If you can pay some extra money along with the rent on a regular basis, then you will eventually own the house. And if the price of the house increases over time, the valuation of your property will increase. If you have to pay 200% more in installments, the value of that house may increase by 400% over time. I don't know how much house prices increase in your area, but I gave an overall opinion.

Buying a house through installment create a chance for a person to work more and comeback to complete the house payments but however in every easy looking things there could be some gap that if not close early could make the person pay more than anticipated because even if they're going to give you the installment bases they wouldn't just tell you to pay whenever you are ready, they would definitely have a time limit for you to comply but if you weren't able to complete the payment is another negotiation that could cause more money so is the effects of installment. However considering the inflation, a house now is very important because the more years are closing that's how is going to cost more to own a house.

[Issa56]

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 even know why you going to choose renting a house over owning your own house. Seriously if you own a house, it’s of great advantage, you going to be more comfortable and you going to have privacy. I know it’s expensive to build a house now, that’s why some people don’t like the idea of building house, but if you are going to be renting a house, you will be paying for house rent either monthly or yearly, depending on the part of the country which you are.

If you are in a rented house, the house rent will keep on increasing over some time, and you going to end up paying more on house rent. If you stay in a house for years, if the amount which you use in paying for house rent is combined together, you will be able to build your own house or buy your own house. I don’t even think anyone should compare owning a house with renting a house. If you are financially good, what you should always fight for is your own house.

[Samlucky O]

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 even know why you going to choose renting a house over owning your own house. Seriously if you own a house, it’s of great advantage, you going to be more comfortable and you going to have privacy. I know it’s expensive to build a house now, that’s why some people don’t like the idea of building house, but if you are going to be renting a house, you will be paying for house rent either monthly or yearly, depending on the part of the country which you are.

You shouldn't worry yourself that much trying to advise someone that chose to rent a house instead of building a house. Anyone that chose to rent a house will surely use that money for rent to pay someone who built a house. No one can ever run from it. Either you build a house or you pay a rent for your inability to build a house. The Truth is that you must pay for shelter either by rent or building your own house. The funny part is that some people who see building of house as being too expensive has paid a rent big enough to build even a small or mini apartment, just because they want to leave standard lifestyle. I know of people who Left their comfort zone to pay rent where they spend $1.5k every year and many has been a residence of that place for many years, and which their rent keep pilling up but they prefer being called city boys with no asset, and they later came back home with nothing. Now what is the gain? I believe in comfort and I don't care where I built my house provided I don't pay rent. I may go for vacation travel round but I will still have a place to call my own.

[rat03gopoh]

I don’t even know why you going to choose renting a house over owning your own house. Seriously if you own a house, it’s of great advantage, you going to be more comfortable and you going to have privacy. I know it’s expensive to build a house now, that’s why some people don’t like the idea of building house, but if you are going to be renting a house, you will be paying for house rent either monthly or yearly, depending on the part of the country which you are.

These are some valid reasons why renting a house is better than buying:

• Job/Profession
• Liquidity/Business
• Idealism/Convenience

Even the richest person in the world currently lives in a rental home, and I'm sure he's financially far superior to the average person.

[Fakhrulenclix]

I don’t even know why you going to choose renting a house over owning your own house. Seriously if you own a house, it’s of great advantage, you going to be more comfortable and you going to have privacy. I know it’s expensive to build a house now, that’s why some people don’t like the idea of building house, but if you are going to be renting a house, you will be paying for house rent either monthly or yearly, depending on the part of the country which you are.

These are some valid reasons why renting a house is better than buying:

• Job/Profession
• Liquidity/Business
• Idealism/Convenience

Even the richest person in the world currently lives in a rental home, and I'm sure he's financially far superior to the average person.

I also see some wealthy people around me doing the same, and for several reasons that I have encountered, it is quite logical as you said, I agree with that.
My simple reason is that money can be used for other things to gain profit; that is what makes many people choose to rent rather than buy a house.

[Zackz5000]

I don’t even know why you going to choose renting a house over owning your own house. Seriously if you own a house, it’s of great advantage, you going to be more comfortable and you going to have privacy. I know it’s expensive to build a house now, that’s why some people don’t like the idea of building house, but if you are going to be renting a house, you will be paying for house rent either monthly or yearly, depending on the part of the country which you are.

These are some valid reasons why renting a house is better than buying:

• Job/Profession
• Liquidity/Business
• Idealism/Convenience

Even the richest person in the world currently lives in a rental home, and I'm sure he's financially far superior to the average person.

Most people leave in a rented apartment but this doesn't mean that they have a house built by them somewhere in the city where there family is or at there community, your reasons are valid when the business or job is just temporary then there will be no need buying a house since you can be leaving that environment anytime soon, some people even lodge in hotels when it's just some few months jobs or business trip but if it's a place that one is going to stay for long it will be better to start building gradually if the money is not available to buy a house i believe it's more ok than paying rent bills annually.