Rent over buying of house?

[Akbarkoe]

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?

Buy a house when you can afford it, when you have an active income, have a good career path or when you want to settle down in a region then owning a house is the way to get home.
 
Renting is a good decision when you don't have a stable economy because mortgaging a house is quite difficult for a poor economy.

It comes down to your financial situation whether to rent or buy a house.

[Frankolala]

It could be a liability if you buy a house for the sake of owning it and you didn't live their since you are renting because this is near at your workplace.

But if you live their it will never be a liability, since living at your own home gives you good security and you didn't have any fear that anytime you will get evicted by the owners.

I don't think that owning a house which you're not living in because of your job is a liability in the sense that, you can rent it out and use the income to rent a house where you are. My current landlord is also a tenant somewhere, due to the nature of his job. He told me that he uses the incone from his house to pay for his rent where he's working.

[terrific]

There is a lot of frown when people knew that someone is renting. They think that it's not okay to rent and they have to be forced into owning a house.
We're in the 21st century where each person knows what they want and what they have to do.
If someone chose to rent over owning a house, they know that it's going to cost them much in doing so.
Yes, they might not have something they own but I think that soon when they are prepared for it, they'll also get one.

[Abdulzuruku01]

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 my country, Owning a house is more safe and otherwise expensive and it has less liability, like tax free, and rent is so expensive and expose to many risks. For that reason majority of the people in my country consider owning a house as a big dream, Then after owning your own house, you can now take the marriage steps because that's when society sees you as a responsible person.

In addition, the majority of the individuals who rent the house are strangers who come from neighboring cities. Everyone prefer to build a house in their hometown, where they can keep their family because some people dislike to be moving about with their family whenever they take a business trips. Even though there are people who prefer renting the house since building a house is also expensive so they can boost their businesses with that funds.

[bubilas]

My friends rented an apartment in the center of the country, in the capital, for a very long time, and they gave a lot of money for a very small apartment that was dirty, but they needed square meters in the middle of the city to try to find a high-paying job, and they worked like that for several years, but eventually they realized that they were wrong. and it was necessary to initially take care to buy at least a room in this city, and right now they are all trying to do it, but it costs so much that now they go among relatives and try to find those who would lend them. But the laugh is that they don't want to sell the car for 50k dollars.Lol.

[imthegreat]

My friends rented an apartment in the center of the country, in the capital, for a very long time, and they gave a lot of money for a very small apartment that was dirty, but they needed square meters in the middle of the city to try to find a high-paying job, and they worked like that for several years, but eventually they realized that they were wrong. and it was necessary to initially take care to buy at least a room in this city, and right now they are all trying to do it, but it costs so much that now they go among relatives and try to find those who would lend them. But the laugh is that they don't want to sell the car for 50k dollars.Lol.

I have always been surprised by those people who would not want to sell their car in order to invest this money in their real estate, because they believe that their status will change to walking and everyone will start looking at them as losers. But isn't this a stupid decision, because it would be much smarter to sell this expensive car and just start taking the bus, but it would be possible to think that you have your own place and this is a very short-sighted decision - that your friend does not want to sell the car because it is very stupid and strange although I have already heard several similar examples in my life.

[summonerrk]

My friends rented an apartment in the center of the country, in the capital, for a very long time, and they gave a lot of money for a very small apartment that was dirty, but they needed square meters in the middle of the city to try to find a high-paying job, and they worked like that for several years, but eventually they realized that they were wrong. and it was necessary to initially take care to buy at least a room in this city, and right now they are all trying to do it, but it costs so much that now they go among relatives and try to find those who would lend them. But the laugh is that they don't want to sell the car for 50k dollars.Lol.

I have always been surprised by those people who would not want to sell their car in order to invest this money in their real estate, because they believe that their status will change to walking and everyone will start looking at them as losers. But isn't this a stupid decision, because it would be much smarter to sell this expensive car and just start taking the bus, but it would be possible to think that you have your own place and this is a very short-sighted decision - that your friend does not want to sell the car because it is very stupid and strange although I have already heard several similar examples in my life.

We live now in a time when real estate is the best asset and, let's say, a "safe haven for money." after all, everyone who has money to buy an apartment should urgently buy it, because in all countries "square meters" are always getting more expensive, while the price of gold may be too overbought now, or, for example, cryptocurrencies may be considered too risky an asset. And that's why real estate is a win-win option, because besides the fact that you can buy an apartment, you can also not rent it out... But what if ... Considering the story above, we can say that they really need to buy their own home, and not engage in nonsense, rolling out in an expensive car.

[Maslate]

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.

Let's face it, buying house is highly expensive these days, but its still necessary to secure one. Not for investment, but for family shelter and security. Now, if you can't afford it yet, renting might be an option, but its only for temporary, not forever.

However, reality is, what is temporary becomes forever especially for low-income people. Not because they want it, but because they have no choice left either. If only they have all the money, they can buy not just one but two or three, for their own home, and for other's renters home.

[Sammye3]

Is owning a house now a liability? If so, how do you shift your mentality of dreaming of owning a house to just renting? There’s pros and cons each to renting and owning a house. But I have heard that younger people nowadays prefer renting over actually buying a house. Because of mobility being the priority. Plus, a house is only profitable once you sell it. But otherwise it’s stagnant.

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

The perspective of renting a house over buying a house is actually sick because why would anyone choose renting a house and pay foe bulls monthly or yearly? Buying a house gives stability and a certain type of comfort that renting can never give you. When you buy a house, it is close to calling it a "home " but renting is partial ownership because it could be taken at anytime.

[STT]

I'm remembering now long ago, pre Bitcoin the best way during the housing boom to tell a good place to rent or buy was by ratio.   Divide the housing cost by the rental cost and you have a multiple which indicates value a bit like a P/E ratio on a share might.   This is how to tell when is it cheapest to rent or avoid buying as many aspire to do so.

So say the ratio was 50, you could buy a house but it would be priced at 50 years worth of renting.  Here the correct choice would be to rent for a couple or few years, it would cost you less to do so and involve less capital tied up or exposed via mortgage liability.   A mortgage is far more serious though rental cost can be a drag too, if you are being balanced in viewing only what you need or can afford its better to choose the lesser commitment for financial health.
 
  Many people will argue they want to own their dream house and rental doesn't allow all kinds of things to be personalised, maybe not even pets can be a big draw back.  However a dream can turn to a nightmare and its best to be free and clear of finance worries when entering into a dream, the two clash and it doesn't feel right to me to have to worry about money and call it dream anything.

[shinratensei_]

Buy a house when you can afford it, when you have an active income, have a good career path or when you want to settle down in a region then owning a house is the way to get home.
 
Renting is a good decision when you don't have a stable economy because mortgaging a house is quite difficult for a poor economy.

It comes down to your financial situation whether to rent or buy a house.

It'd be great if it was that easy but many people have a hard time raising their credit score and getting their mortgage denied despite stable income.
Current economy isn't that great and banks are busy denying deserving customers.

Banks have raised lender standard to be a lot stricter than it used to be and in 2024 alone we have over 20% rejection rates.

[Charcol]

When I have my own house, I will have more benefits. This way, I will not have the risk of suddenly changing my house like I have a rented house. No one will pressure me to increase the rent. And I have my own house and my own freedom. Especially for those who want to live in the same place permanently, buying a house is logical.
And for those who have to change cities or different places for work or business, renting a house will give more freedom. These people make easy decisions and leave their homes for personal reasons or job purposes whenever they want. This is probably why many young people prefer renting rather than buying a house.

So the main thing here is that whoever has the opportunity likes to make decisions in the way they want.

[free-bit.co.in]

Is owning a house now a liability? If so, how do you shift your mentality of dreaming of owning a house to just renting? There’s pros and cons each to renting and owning a house. But I have heard that younger people nowadays prefer renting over actually buying a house. Because of mobility being the priority. Plus, a house is only profitable once you sell it. But otherwise it’s stagnant.

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

The perspective of renting a house over buying a house is actually sick because why would anyone choose renting a house and pay foe bulls monthly or yearly? Buying a house gives stability and a certain type of comfort that renting can never give you. When you buy a house, it is close to calling it a "home " but renting is partial ownership because it could be taken at anytime.

I think that those who believe renting is better than buying a house are probably only looking at the issue from a personal perspective without considering the long term aspects.

Perhaps they lack the financial means, and owning a home is beyond their current financial reach. Therefore, they believe that renting is a more reasonable and better option for them at this time.

But I believe that once their financial situation improves and they have enough money to buy a house. They will surely change their mind.

[Nightwatchmare]

Well, we all have our own different views when it comes to Rent over buying a house, some people prefer moving from one place to another for a different view and living in different house when they are tired or bored of staying where they were before. But, to me I will prefer buying a house and fixing it in a way I will not feel bored of living there. And also, I will prefer buying a house, because house is a property that you will own and your children will herit it, and it will help them solve the problem of accommodation when your creator calls you to come home and rest.