Rent over buying of house?

[Agbamoni]

It depends on your needs. For example, if your job requires you to move frequently, renting might be more effective than buying. Furthermore, if you rent, you don't have to worry about maintenance. However, the downside is that you lose money because you're renting rather than buying an asset. So, you don't own the property after the lease expires. The opposite is true if you buy a house.
As I said, it depends on your situation and needs. It's like buying an automatic or manual vehicle; both can run, but the feel is different.

There are lot of things that requires an individual to choose renting an apartment over owning their own house. Nature of job is one important factor they considered, so is the longevity of the job. However, it shouldn't stop them from owning their own house which can be used as real estate to generate passive income every year. Meaning if they are capable of owning a home they should do it.

[nara1892]

It depends on your needs. For example, if your job requires you to move frequently, renting might be more effective than buying. Furthermore, if you rent, you don't have to worry about maintenance. However, the downside is that you lose money because you're renting rather than buying an asset. So, you don't own the property after the lease expires. The opposite is true if you buy a house.
As I said, it depends on your situation and needs. It's like buying an automatic or manual vehicle; both can run, but the feel is different.

I think using frequent work relocation to justify renting over buying is more of an excuse than a sound financial decision. Because a home is not just a place to live and meet daily need. When you own a house, you own an asset and its value will increase over time. Owning a home means you are investing in and accumulating asset, instead of just paying rent without creating long term value

The only reason some people do not want to own a home is because they cannot afford it, IMO. Because, in reality, owning a home today is close to an impossible task for many people.

I completely understand what you're saying, but what if the situation I described above, where someone can't stay in one place due to work demands, isn't this a situation many people experience? Of course, this can lead to additional expenses because you have to buy a house and also have to rent another place due to work demands, so I don't think this is an excuse, but rather a fact that many people experience.
However, if you have a good financial situation, then it's certainly not a problem to do both at the same time.

[reagansimms]

It depends on your needs. For example, if your job requires you to move frequently, renting might be more effective than buying. Furthermore, if you rent, you don't have to worry about maintenance. However, the downside is that you lose money because you're renting rather than buying an asset. So, you don't own the property after the lease expires. The opposite is true if you buy a house.
As I said, it depends on your situation and needs. It's like buying an automatic or manual vehicle; both can run, but the feel is different.

There are lot of things that requires an individual to choose renting an apartment over owning their own house. Nature of job is one important factor they considered, so is the longevity of the job. However, it shouldn't stop them from owning their own house which can be used as real estate to generate passive income every year. Meaning if they are capable of owning a home they should do it.

Most private company employees who are frequently transferred prefer to rent apartments because this option is ideal for high mobility and flexibility in work. However, owning a home remains a very strategic financial move. If not occupied, the house can be rented out as a source of passive income, building long-term equity, and becoming an investment asset whose value tends to increase over time. Everyone certainly wants to own their own home and will continue to strive to own one because a house is an asset whose value tends to increase and is resistant to inflation compared to other investment instruments. If property investments are managed well, owners can still enjoy the flexibility of living in an apartment, while their assets continue to generate passive income every year.

[bhadz]

There are lot of things that requires an individual to choose renting an apartment over owning their own house. Nature of job is one important factor they considered, so is the longevity of the job. However, it shouldn't stop them from owning their own house which can be used as real estate to generate passive income every year. Meaning if they are capable of owning a home they should do it.

These days, the real estate market is becoming more expensive. A regular job worker won't be able to afford to own one. Even if there's now programs from the government of paying the mortgage in a cheaper amount, that's not enough. Because with how the fees, other expenses to cover the cost of it, it's too expensive. I don't know how it works with the other countries but I think it's a standard for most countries. And earning passively from the real estate isn't really passive at all, there are maintenance and renovation costs as well.

[Berry2d]

The way most people see things determines how they go about following things, some finds it difficult making provision for there personal house but spend unimaginable fortune just to secure an already made house for rent believing that it is the best without knowing a time will come when once success will be measured by the assets he has accumulated and not how nice his rented apartment is.
To me I have never by chance considered a rented apartment over once personal house because I know and believe once property is much more important than that which was rented even if the rent is cheaper.

[Youngrebel]

The way most people see things determines how they go about following things, some finds it difficult making provision for there personal house but spend unimaginable fortune just to secure an already made house for rent believing that it is the best without knowing a time will come when once success will be measured by the assets he has accumulated and not how nice his rented apartment is.
To me I have never by chance considered a rented apartment over once personal house because I know and believe once property is much more important than that which was rented even if the rent is cheaper.

Owning a house gives peace of mind and security and it also gives asset that can appreciate in value over time, unlike paying of house rent, which requires money and this one of the most biggest expenses cause to see a standard house this days require a better money and also investing money in your own personal property contribute to your pocket and build wealth and financial stability for the future purpose.

[free-bit.co.in]

These days, the real estate market is becoming more expensive. A regular job worker won't be able to afford to own one. Even if there's now programs from the government of paying the mortgage in a cheaper amount, that's not enough. Because with how the fees, other expenses to cover the cost of it, it's too expensive. I don't know how it works with the other countries but I think it's a standard for most countries. And earning passively from the real estate isn't really passive at all, there are maintenance and renovation costs as well.

It is true that maintenance and repair costs will arise, but they will not eat up all your profit if managed properly. You can still maintain a stable source of passive income.

Compared to jobs or other assets, real estate still generates steady cash flow without requiring daily work. Besides that, its value also tend to increase over time, and that is a kind of compound return that very few asset can achieve.

Real estate is different from other asset or business activities. The more expensive it becomes, the higher the returns can be because it is a basic necessity and people are willing to pay almost any price.

[Chilwell]

It depends on your needs. For example, if your job requires you to move frequently, renting might be more effective than buying. Furthermore, if you rent, you don't have to worry about maintenance. However, the downside is that you lose money because you're renting rather than buying an asset. So, you don't own the property after the lease expires. The opposite is true if you buy a house.
As I said, it depends on your situation and needs. It's like buying an automatic or manual vehicle; both can run, but the feel is different.

There are lot of things that requires an individual to choose renting an apartment over owning their own house. Nature of job is one important factor they considered, so is the longevity of the job. However, it shouldn't stop them from owning their own house which can be used as real estate to generate passive income every year. Meaning if they are capable of owning a home they should do it.

Just as you said the nature of the job determine if a person to own a house or rent, but most at time some people decided to rent just because they don't want to leave their permanently and once they are done with their job they don't have any plan of settling there and that is why some people decide to rent instead of the owning a house.

But if I'm opportune to be in that position and I'm capable of owing a house in anywhere i went to, I will definitely do so and again I will make sure I get a very reasonable location so that even after my service I can be able to sell it comfortably without any rush, I've been having this in my mind for a very long time, because renting a house cost a lot and by the time you spend close to 10 years there, honestly you will start regretting of not owing a house because of the money you paid for rent.

[gwapako]

Based on my experience, renting is better if it is near the workplace or near business or commercial areas. If you own a house but the location is far from your everyday transactions, then it would be a liability. A house is an asset if you are earning from it. Example if you collected rental fees from the lessee. In that situation, the house is an asset.

So as for me, renting is better that buying a house.

[Swordsoffreedom]

I think using frequent work relocation to justify renting over buying is more of an excuse than a sound financial decision. Because a home is not just a place to live and meet daily need. When you own a house, you own an asset and its value will increase over time. Owning a home means you are investing in and accumulating asset, instead of just paying rent without creating long term value

The only reason some people do not want to own a home is because they cannot afford it, IMO. Because, in reality, owning a home today is close to an impossible task for many people.

I completely understand what you're saying, but what if the situation I described above, where someone can't stay in one place due to work demands, isn't this a situation many people experience? Of course, this can lead to additional expenses because you have to buy a house and also have to rent another place due to work demands, so I don't think this is an excuse, but rather a fact that many people experience.
However, if you have a good financial situation, then it's certainly not a problem to do both at the same time.

As I said, owning a home means you are holding an asset and also making an investment. Even if you cannot live there due to work that requires frequent relocation, you can still benefit from it by renting it out and enjoying its value appreciation over time.

Trust me, once you are financially stable and capable enough, you will realize that owning a house has almost no real downside. That is why most wealthy people own one or more properties even if they do not use them directly as residences.

[fredericktaylor]

The way most people see things determines how they go about following things, some finds it difficult making provision for there personal house but spend unimaginable fortune just to secure an already made house for rent believing that it is the best without knowing a time will come when once success will be measured by the assets he has accumulated and not how nice his rented apartment is.
To me I have never by chance considered a rented apartment over once personal house because I know and believe once property is much more important than that which was rented even if the rent is cheaper.

What you said is right, most people want to house or buy land for themselves, but nowadays even though everything costs a lot, an ordinary person cannot house because he does not have enough money to a house. I think that nowadays if an ordinary person wants to house or buy land, then first of all he has to increase his source of income and completely stop spending more than necessary and save money continuously over a long period of time, as a result of which an ordinary person can house or buy land. It is never possible for an ordinary person to build a house or buy land quickly.

[Yeesha]

Based on my experience, renting is better if it is near the workplace or near business or commercial areas. If you own a house but the location is far from your everyday transactions, then it would be a liability. A house is an asset if you are earning from it. Example if you collected rental fees from the lessee. In that situation, the house is an asset.

So as for me, renting is better that buying a house.

Well, I don't have any rights to question your decision, because I believe you will have a strong reason for preferring rent over having your own apartment. But as for me I think having your own apartment is more suitable than renting an apartment. It is better to choose a suitable place for your accommodation, and having your own house brings more flexibility and comfort, you don't have to ask for permission from anyone before you make the choices at home, and again you will be free from distraction and disturbance either from the landlord or other tenants. Staying in a rented apartment comes with different challenges and can sometimes make life more complicated and difficult, especially if have a strict landlord or landlady.

[CryptoBuds]

Based on my experience, renting is better if it is near the workplace or near business or commercial areas. If you own a house but the location is far from your everyday transactions, then it would be a liability. A house is an asset if you are earning from it. Example if you collected rental fees from the lessee. In that situation, the house is an asset.

So as for me, renting is better that buying a house.

When you own a house, you already own an asset, even if you only use it as your residence and do not rent it out or generate any income from it. At that point, you will hardly have to pay rent every month anymore and this will save you a huge amount of money in the long run.

In addition, real estate is an asset that increases in value over time. As a result, even if it does not generate cash flow, your net worth can still grow over the years. You could even receive far more money than you originally paid for the house if you no longer plan to live there and decide to sell it in the future.
Meanwhile, when you rent, you have to pay every month, but you do not end up owning anything once those payment stop.

[Charleslie]

Renting a house can be a better choice than buying a house . it requires less money upfront,offer greater flexibility to move when needed and thereby responsibility for major repair and maintenance .Renting can also help individual avoid long-term dept and financial risks associated with owning property for those who value mobility and lower financial commitment, therefore renting may be a more practical option than buying a house.

[boyptc]

Renting a house can be a better choice than buying a house . it requires less money upfront,offer greater flexibility to move when needed and thereby responsibility for major repair and maintenance .Renting can also help individual avoid long-term dept and financial risks associated with owning property for those who value mobility and lower financial commitment, therefore renting may be a more practical option than buying a house.

That is the key for renting, the flexibility.

But others think that the rent they're paying should have been for their mortgage and that's okay because, if they're going to calculate all of the years it will be theirs.

If someone who sees themselves happy and satisfied with renting and they think that it's buying them time and patience, that's okay.

The problem starts with the traditional minds of people who mocks the renters and pushes them to buy even if they can't afford.

[Swordsoffreedom]

Renting a house can be a better choice than buying a house . it requires less money upfront,offer greater flexibility to move when needed and thereby responsibility for major repair and maintenance .Renting can also help individual avoid long-term dept and financial risks associated with owning property for those who value mobility and lower financial commitment, therefore renting may be a more practical option than buying a house.

I do not know what your current financial situation is, but if it is not good, renting a house can be a better option at this stage because it help reduce financial pressure.

However, in the long run, renting is only a temporary solution and cannot compare to owning a home. Renting a home means you spend money every month without building any asset for yourself. Renting a home means you are paying to use someone else's property and once you stop paying, you are left with nothing. Meanwhile, owning a home can be costly at the beginning but in return, you own a real asset that can increase in value over time

Renting offers flexibility, but home ownership provides stability and the opportunity to accumulate asset over time. Therefore, if financial conditions allow, owning a home is a better option in the long run.

[Finebone]

Owning a house gives peace of mind and security and it also gives asset that can appreciate in value over time, unlike paying of house rent,

Having your own house gives you peace of mind you will never get when renting a house, but it's not everyone that can own a house of their own because the cost of building it is very high in my country, now that a bag of cement 14k Nigerian naira, unlike in the past few years when it was 3k, because in the space of 6 years, it has been inflated to 14k Nigerian naira, which is the main reason house rent has tripled in price in various part of my country.

[Crakryptvest]

Having your own house gives you peace of mind you will never get when renting a house, but it's not everyone that can own a house of their own because the cost of building it is very high in my country, now that a bag of cement 14k Nigerian naira, unlike in the past few years when it was 3k, because in the space of 6 years, it has been inflated to 14k Nigerian naira, which is the main reason house rent has tripled in price in various part of my country.

If anyone has the money to either buy or build a house, I don't think he should be waiting for any opinion to be do that, some person that had the opportunity to build house then and didn't utilize it are regretting today, just imagine in country where cement was as low as #3k compared to the present price you dropped.
The reason why most people even prefer to rent a house in my country now than building is, they will have to purchase a land first, prepare to start the building and it is not something someone will start peanut, but like I said, if the money is there, having a personal house is far better than answering a tenant in a country like ours where your landlord can decide to behave as it pleases him at any time.

[Zy_sat]

There are lot of things that requires an individual to choose renting an apartment over owning their own house. Nature of job is one important factor they considered, so is the longevity of the job. However, it shouldn't stop them from owning their own house which can be used as real estate to generate passive income every year. Meaning if they are capable of owning a home they should do it.

It’s actually depends on the country situation and also the habit happens on those country. As for me, on my 30s and at my country, having no house is pathetic, because buying a land and house is easy on this country. It would be different with other countries maybe. For my perspective, having an assets on a property is not that bad, as long as you have a financial stability to do the credit of house instead of only renting.

If we have the assets like house, we can rent the house and make the house paying itself from the rent income. This is similar like the thinking of “How if we built a job opportunity instead of seeking for the job?”. We build house for our assets to increase our live value, making more thing organized and reduce more credits.

[JoyceBTC]

Renting a house can be a better choice than buying a house . it requires less money upfront,offer greater flexibility to move when needed and thereby responsibility for major repair and maintenance .Renting can also help individual avoid long-term dept and financial risks associated with owning property for those who value mobility and lower financial commitment, therefore renting may be a more practical option than buying a house.

The only valid reason I picked here is flexibility to move when needed, while the rest happens mostly in rare cases. Because not everyone is in debt or financial risk when they get a house. Owning a house also serves as an asset, so I think if one can afford getting a home they should get it, as it also helps avoids stress of paying rents every year.