Rent over buying of house?

[Swordsoffreedom]

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.

Are you talking about Elon Musk? In fact, Elon owns quite a lot of real estate and houses, but he decided to sell them starting in 2020. According to him, he want to focus on his work.

But did you know that his wife, 12 children, and even his parent are all living in mansions and luxurious home? How many of us have done that?

I do not know if you are married or not, and whether you take care of your parent. But I believe that those who have children will understand the importance of a home and how much they long to own one. We can be anywhere, but family is different, especially with children and the elderly. Owning a house is absolutely essential.

[liasbaa]

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?

Thinking beyond the need is a kind of luxury. If you have a house, buying a second house is not a necessity because you have the available funds and you want to build more houses as an investment. At the end of the month, you will have the opportunity to earn a guaranteed income from house rent and own a permanent asset.

Buying a house is not a burden, it is your asset, but some people do not want to build a house with such a huge amount of funds, they want to invest for the long term. Considering that the rent of houses is more or less depending on the place, the amount of funds you spend to buy a house can become a stagnant asset.

[bakasabo]

Thinking beyond the need is a kind of luxury. If you have a house, buying a second house is not a necessity because you have the available funds and you want to build more houses as an investment. At the end of the month, you will have the opportunity to earn a guaranteed income from house rent and own a permanent asset.

Buying a house is not a burden, it is your asset, but some people do not want to build a house with such a huge amount of funds, they want to invest for the long term. Considering that the rent of houses is more or less depending on the place, the amount of funds you spend to buy a house can become a stagnant asset.

People also dont want to buy a house because they 1) dont like to do maintenance themselves 2) they dont have money for that. So they rather rent or buy an apartment. Is something goes wrong with heating or water in your apartment, you just call company who does maintenance and they will fix everything. If same happens in a house, you first find a person or company who can do it, then you arrange time "when they can come", you waste your 1 or more working days, as you take day off. And whey they come, they charge extra only because they think you are wealthy because you own a house. That is stops me from buying a house. I dont want to return from work, and work in/for/around the house doing something like fixing, gardening, improving, cooking-cleaning after and etc.

[ultrloa]

Thinking beyond the need is a kind of luxury. If you have a house, buying a second house is not a necessity because you have the available funds and you want to build more houses as an investment. At the end of the month, you will have the opportunity to earn a guaranteed income from house rent and own a permanent asset.

Buying a house is not a burden, it is your asset, but some people do not want to build a house with such a huge amount of funds, they want to invest for the long term. Considering that the rent of houses is more or less depending on the place, the amount of funds you spend to buy a house can become a stagnant asset.

People also dont want to buy a house because they 1) dont like to do maintenance themselves 2) they dont have money for that. So they rather rent or buy an apartment. Is something goes wrong with heating or water in your apartment, you just call company who does maintenance and they will fix everything. If same happens in a house, you first find a person or company who can do it, then you arrange time "when they can come", you waste your 1 or more working days, as you take day off. And whey they come, they charge extra only because they think you are wealthy because you own a house. That is stops me from buying a house. I dont want to return from work, and work in/for/around the house doing something like fixing, gardening, improving, cooking-cleaning after and etc.

Also I understand your concerns since its really struggling to work on lots of things especially if you are living alone.

Let me add number 3 on your list and that is the house is far away on their workplace. Many choose not to buy because they don't want to experience lots of stress traveling for away just to go on their work and going home.

That's why many prefer to rent house near on their workplaces because this is more ideal than building their home. Also lots of people can't afford to buy on urban places because the price is to expensive.

[bakasabo]

Good catch. From people who own a house I always hear that they want a nice and quite place to live. Nice and quite place is always 30-60 minutes ride from town as minimum. So not only you spend time in loaded traffic in city, but also spend a lot of time twice a day to get home. Such person and family are also strongly bind to transport. Car suddenly breaks down and you have to reschedule whole day. So far I see more disadvantages than advantages in buying or renting a house.

Best experience would be renting a house that is not far away from sea, river or lake during Summer season. Taste the delights of living in quite place, feel nature, cook meat regularly. Then move out back to civilization when time of area maintenance begins (leaf and snow removal and etc). 

[Renampun]

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.

Not really.. most young people today have difficulty buying a house because they don't have enough money to buy a house, which is so expensive nowadays. I still rent a house with my small family, it's not because I don't want to buy a house, but because I don't have enough money to buy one, although there are government subsidy programs, the requirements are quite complicated, and they are usually located on the outskirts of the city. so, until now, I prefer to rent a house, while continuing to hope that I can save enough money to buy one.

[cxtreenal]

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.

Not really.. most young people today have difficulty buying a house because they don't have enough money to buy a house, which is so expensive nowadays. I still rent a house with my small family, it's not because I don't want to buy a house, but because I don't have enough money to buy one, although there are government subsidy programs, the requirements are quite complicated, and they are usually located on the outskirts of the city. so, until now, I prefer to rent a house, while continuing to hope that I can save enough money to buy one.

Buying a house requires such a large amount of money that if someone does not have several times that amount of funds, they do not want to take the risk. I have enough money to buy a house but I do not want to finish the house with the entire amount. I have a house but I have to stay in the city for work, in this situation I live in a rented house because buying a house in the city requires a lot of money.

Some of my colleagues have bought houses with loans but despite having that facility, I do not like to take loans because they will charge me a large amount of profit and I do not want to give that extra amount of profit to the lenders. After meeting my basic needs, I am accumulating Bitcoin through discretionary income. I hope that by gradually accumulation Bitcoin, compared to buying a house with a large amount of funds, I will be able to buy many houses in the future from the profits.

[YOSHIE]

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

In essence, different countries have different ways of thinking.
Talking about the economy and home, it is everyone's dream to have a home, especially those who have a permanent job, except for those who don't have a permanent job, it may be a little difficult for them to own a house, of course rent or contract is an option.

The government in my country has a program and it has been running for a long time, where the program for lower class people is to provide free housing and make public housing at affordable prices, they can pay in monthly installments, at affordable prices.

For this reason, in my country the average person already owns a house.

[leonair]

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?

It is definitely better to own a house than to rent a house. Because when you buy a house, it will not only be your place to live, it will be your investment and an asset that will be a big security not only for you but also for future generations. When you rent a house, just like you have to pay rent every month, your future generation will also have to pay rent in someone else's house. If for some reason someone in your future generation fails to earn a good amount, then in that case he will have to face a lot of trouble with housing. So when you buy a house, it will be a big asset for you and your future generations. So it is definitely better to have a good rental in a house. If you can afford it, you should definitely buy a house without worrying about renting.

[Somegory]

People can't afford a house anymore, and that's a fact, those who want to force it always regret before the house got done, like a brother who have managed to build the house up to 50% level and he is already drained, mentally and financially, he had to sell the house.

Building a house in 2026 suits the sentence that says " don't start what you can't finish", because you are likely not prepared for what you are about to do, it's better to put in more effort into making more money than you used to and this is what will determine your future.

If you are making good amount of money getting a house built will be a lot easier compared to someone with a source of income that's not that good, it will take years to build a house and many opportunities will have past you by then.

Focus on making more money.

[TheUltraElite]

Not really.. most young people today have difficulty buying a house because they don't have enough money to buy a house, which is so expensive nowadays. I still rent a house with my small family, it's not because I don't want to buy a house, but because I don't have enough money to buy one, although there are government subsidy programs, the requirements are quite complicated, and they are usually located on the outskirts of the city. so, until now, I prefer to rent a house, while continuing to hope that I can save enough money to buy one.

I think house and apartments are being confused here. Apartments are not that difficult to buy as compared to a house, but if we are talking about a real estate for living then yes a house/apartment is an absolute necessary for any new family to grow and broaden.

Cities shift, places change, economies change and often new areas become the area of interest for real estate. Keep this in mind and always strive to get a place of your own, maybe a house or maybe not, but at least an apartment if not anything.

The older people have owned their own houses which are now being sold and money handed over the next of kin - that was their investment now paying off.

[Lida93]

I think I like it having a permanent structure I could call my own house right in my hometown than having it anywhere else, but I would prefer establishing some businesses first making sure they have gained root before I could actually think of having a permanent house in city where I live. That doesn't mean it's bad to live in family houses. The cons and pros are depending on the perspective of the individual and the location he resides, especially where you have to be paying landed tax for your house.

[iBaba]

Not really.. most young people today have difficulty buying a house because they don't have enough money to buy a house, which is so expensive nowadays. I still rent a house with my small family, it's not because I don't want to buy a house, but because I don't have enough money to buy one, although there are government subsidy programs, the requirements are quite complicated, and they are usually located on the outskirts of the city. so, until now, I prefer to rent a house, while continuing to hope that I can save enough money to buy one.

So unless there is a constraint in my finances or budget else I would prefer to own a house than to rent a house. Renting a house means spending on a building that is not yours. I know you probably won’t be the one doing the major maintenances in the building but mind you, if you are running away from maintenance, you can’t run away from it completely because some of the minor maintenances will still be done by you and if you are someone who loves beatification of your shelter, you may go beyond the small maintenance and once in a while jump into major repairs in the building.

In a nutshell, I will prefer to present it as more of an advise by saying that you if you have a financial capital to buy a house opt in for it rather than renting. People who rent homes are those who cannot afford to buy a house for themselves and their family but once you have the means, don’t hesitate to do so.

[Jatiluhung]

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?

It’s true that quite a few young people these days believe renting is far better than buying. They prefer to invest their money in business ventures and avoid taxes or other costs associated with home ownership. That’s why they choose not to buy.

However, those who are truly wealthy will certainly want to buy rather than rent. This is because buying a home can also be a profitable investment in the property or real estate sector, especially if the home we buy is strategically located in a city with rapid population growth and is a popular destination.

Personally, I prefer buying over just renting. Because the money we spend on rent would be much better off if we saved it or invested it in things that can make that money grow in value over time.

[Jasmyne]

To my own knowledge, most people prefer owning a home than renting, when they can actually afford it, except they can’t afford to buy a house then they continue renting.

Secondly why most persons prefer renting is due to the nature of their job, maybe they are always been transferred to different locations/region outside where they are previously and buying a home will obviously affect them since  they are not always permanent in a place and will always have to move.

Overall, if one can actually afford buying a house, it is good to have one, so you will always have where to call home even after retirement despite the nature of their work.

[Bitcoin Smith]

People who buy house with the intend of generating revenue from it while also paying the mortgage is not a good idea. In my country, the rent gives like 1% or even less than of it's total value per annum, which doesn't look like a good investment idea, you can even simply deposit the money into your savings account and get like 2% returns right?

Owning a house is important as an individual so you can feel safe, but keep buying more houses isn't really a smart choice.

The young generation, they can't even afford food with the money they are making then how they are going to think about buying a house that is way off their list for sure.

[Sanitough]

Good catch. From people who own a house I always hear that they want a nice and quite place to live. Nice and quite place is always 30-60 minutes ride from town as minimum. So not only you spend time in loaded traffic in city, but also spend a lot of time twice a day to get home. Such person and family are also strongly bind to transport. Car suddenly breaks down and you have to reschedule whole day. So far I see more disadvantages than advantages in buying or renting a house.

Best experience would be renting a house that is not far away from sea, river or lake during Summer season. Taste the delights of living in quite place, feel nature, cook meat regularly. Then move out back to civilization when time of area maintenance begins (leaf and snow removal and etc). 

If you are working in the heart of the city, houses are quite expensive. If you can't buy your own house, then renting temporarily is the best option. But it would be best if you can also acquire even a small house of yours that you can call your own rather than renting all throughout your life without having to see your own accomplishment.

Also, properties do appreciate its value in the future, if you will decide to sell, you will have a 10x profits from the price you bought it, and just buy a house and lot in the province where you can enjoy your retirement.

[Bushdark]

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.

Not really.. most young people today have difficulty buying a house because they don't have enough money to buy a house, which is so expensive nowadays. I still rent a house with my small family, it's not because I don't want to buy a house, but because I don't have enough money to buy one, although there are government subsidy programs, the requirements are quite complicated, and they are usually located on the outskirts of the city. so, until now, I prefer to rent a house, while continuing to hope that I can save enough money to buy one.

Most time buying a land and building your own house is less expensive than when you tried to buy a house that is already built or that people are living and want to relocate. Buying a house can be very expensive for people especially if the house is in a high taste location where you need to spend 2x of the real worth of the house. There are also some less busy cities where you can buy cheap houses that can be within your budget. The cost of buying a house is very high and you must have a good business that is giving big returns or doing a high paying job that can afford your bills.

[Miles2006]

Renting a house and owning a house are two different things, don’t get both complicated most especially the finance involve in buying a house. Majority of individuals can’t afford buying a house, they’re certain reason why rented houses are in grade so you just have to choose any and pay with the available amount but, when it comes to buying a house you’ll notice the cost is very expensive.
Obviously there’s no point making comparison because buying a house comes with a lot of benefits compared to renting probably self protection and relaxation matters, I have seen many young people cry on the internet complaining about landlords and the environment, buying a house can also be seen as an investment which many practice here although it’s a matter of adequate fund.

[Onyeeze]

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?

people who rent house and the people who buy house they do all those things because of the level of finance they have because you cannot have a big finance that can afford you buying a house and use it to rent a house I have not seen where it happened even though the person does not calculate well such a mistake can not be done to someone who knows the important of shelter, I will be prefer owing a house that renting a house because when renting a house you will not be at peace whenever most is running down you'll be thinking how to pay your rent so it is better for me to use the money and buy a house down to living in a rented apartment