Rent over buying of house?

[blockman]

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.

That is the advantage of renting but if you're already settled into an area that you like to stay most, close to your work, to schools, hospitals, and even amusement parks, you'll like to settle there and want to own a land.

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.

It is an asset that appreciates but there are these real estate content creators who say that it's not. Of course it's not yet when it's not yet fully paid but when it's already yours, the value appreciates and that's an asset for you although it's hard to liquidate it. For someone who can afford it, the stress is only in the beginning and themselves will thank them for being stress-free for the rest of their lives.

[Jody.Drummer]

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.

That is the advantage of renting but if you're already settled into an area that you like to stay most, close to your work, to schools, hospitals, and even amusement parks, you'll like to settle there and want to own a land.

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.

It is an asset that appreciates but there are these real estate content creators who say that it's not. Of course it's not yet when it's not yet fully paid but when it's already yours, the value appreciates and that's an asset for you although it's hard to liquidate it. For someone who can afford it, the stress is only in the beginning and themselves will thank them for being stress-free for the rest of their lives.

We all have our own preferences, including when it comes to choosing an area or neighborhood to live in. We'll settle down somewhere if that's what we like, whether by finding a rental home or buying one ourselves, or even building one. Owning your own home is everyone's dream, and I'm sure anyone would admit they'd want one, whether it's for permanent residence or as an asset. I think even hard working people have goals or desires to achieve a comfortable life, and one of those goals is owning their own home. Those who can afford it are fortunate, as it's a dream they've already achieved. But I don't know any clear reason why renting is better than buying, maybe one of the reasons is the flexibility of moving but other than that I don't think there is any other reason.

[LastKiss]

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.

Yeah, this could work too but we need to do more research to make sure the house we want to buy is worth it. I have a friend who bought a house with a credit and rented it out to other people, the rental income covers the mortgage payments. However, that house is in a strategic location where it close to a school and the airport.

Having a property in a important location like that makes it much easier to find occupant and keep it occupied. So, before we jump into a strategy like this we need to do thorough research unless we're buying the house for ourselves, in which case we might prefer a quieter less crowded area.

[blockman]

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.

That is the advantage of renting but if you're already settled into an area that you like to stay most, close to your work, to schools, hospitals, and even amusement parks, you'll like to settle there and want to own a land.

We all have our own preferences, including when it comes to choosing an area or neighborhood to live in. We'll settle down somewhere if that's what we like, whether by finding a rental home or buying one ourselves, or even building one. Owning your own home is everyone's dream, and I'm sure anyone would admit they'd want one, whether it's for permanent residence or as an asset. I think even hard working people have goals or desires to achieve a comfortable life, and one of those goals is owning their own home. Those who can afford it are fortunate, as it's a dream they've already achieved.

I agree, no matter what the situation of economy and the status of our lives. Owning a home has always been the standard of everyone's dream. We don't mind for what people will say if it's going to appreciate or not because what's on our mind is just to have a house that we can call our home and own.

But I don't know any clear reason why renting is better than buying, maybe one of the reasons is the flexibility of moving but other than that I don't think there is any other reason.

Yes, that's one reason is the flexibility to move whenever you want. Another thing is to avoid the tax obligations and renovations which could also eat up a lot of cost.

[Minor Miner]

We all have our own preferences, including when it comes to choosing an area or neighborhood to live in. We'll settle down somewhere if that's what we like, whether by finding a rental home or buying one ourselves, or even building one. Owning your own home is everyone's dream, and I'm sure anyone would admit they'd want one, whether it's for permanent residence or as an asset. I think even hard working people have goals or desires to achieve a comfortable life, and one of those goals is owning their own home. Those who can afford it are fortunate, as it's a dream they've already achieved. But I don't know any clear reason why renting is better than buying, maybe one of the reasons is the flexibility of moving but other than that I don't think there is any other reason.

Yes, flexibility to relocate or having to travel for work all the time, that is pretty much all some people can come up with. But in my opinion, those are just ways of justifying their situation. The reality is that they probably cannot afford to buy a home yet.

Because let us be honest, owning a home barely has any downside at all. Owning a home means we own a valuable asset, even a very valuable one. It would not be honest to say that we do not need or want an asset like that.

[Findingnemo]

We all have our own preferences, including when it comes to choosing an area or neighborhood to live in. We'll settle down somewhere if that's what we like, whether by finding a rental home or buying one ourselves, or even building one. Owning your own home is everyone's dream, and I'm sure anyone would admit they'd want one, whether it's for permanent residence or as an asset. I think even hard working people have goals or desires to achieve a comfortable life, and one of those goals is owning their own home. Those who can afford it are fortunate, as it's a dream they've already achieved. But I don't know any clear reason why renting is better than buying, maybe one of the reasons is the flexibility of moving but other than that I don't think there is any other reason.

Yes, flexibility to relocate or having to travel for work all the time, that is pretty much all some people can come up with. But in my opinion, those are just ways of justifying their situation. The reality is that they probably cannot afford to buy a home yet.

Because let us be honest, owning a home barely has any downside at all. Owning a home means we own a valuable asset, even a very valuable one. It would not be honest to say that we do not need or want an asset like that.

The house is not an asset, it is a liability and it can be considered as an asset only if it is rented to someone else. BUT A house is something more than an asset, it is a safe place for you to lay down with no worries but in this 21st century the real estate is highly inflated while the salary is just crawling that just enough to survive for that month.

[SuperBitMan]

We all have our own preferences, including when it comes to choosing an area or neighborhood to live in. We'll settle down somewhere if that's what we like, whether by finding a rental home or buying one ourselves, or even building one. Owning your own home is everyone's dream, and I'm sure anyone would admit they'd want one, whether it's for permanent residence or as an asset. I think even hard working people have goals or desires to achieve a comfortable life, and one of those goals is owning their own home. Those who can afford it are fortunate, as it's a dream they've already achieved. But I don't know any clear reason why renting is better than buying, maybe one of the reasons is the flexibility of moving but other than that I don't think there is any other reason.

Yes, flexibility to relocate or having to travel for work all the time, that is pretty much all some people can come up with. But in my opinion, those are just ways of justifying their situation. The reality is that they probably cannot afford to buy a home yet.

Because let us be honest, owning a home barely has any downside at all. Owning a home means we own a valuable asset, even a very valuable one. It would not be honest to say that we do not need or want an asset like that.

The house is not an asset, it is a liability and it can be considered as an asset only if it is rented to someone else. BUT A house is something more than an asset, it is a safe place for you to lay down with no worries but in this 21st century the real estate is highly inflated while the salary is just crawling that just enough to survive for that month.

Yeah you are right, a house is only an asset when it is rented out but a liability when is not, some set of people When they have huge amount of money in their bank account maybe gotten from a business deal they executed the next thing they think of is to build a house meanwhile, they don’t have any investment they don’t think about a house that they will live in as a liability, I’m not saying building a house is wrong but building a house to live in when you have zero investment is wrong, what you need to do is to build different kind of investment and make sure those investment are bringing you good profit before you can then think about building a house you can live in.
Just rent a house and build your investment first.

[Findingnemo]

~
Yeah you are right, a house is only an asset when it is rented out but a liability when is not, some set of people When they have huge amount of money in their bank account maybe gotten from a business deal they executed the next thing they think of is to build a house meanwhile, they don’t have any investment they don’t think about a house that they will live in as a liability, I’m not saying building a house is wrong but building a house to live in when you have zero investment is wrong, what you need to do is to build different kind of investment and make sure those investment are bringing you good profit before you can then think about building a house you can live in.
Just rent a house and build your investment first.

From the financial point of view, rent is always better but as I said house is not just a finance but a place for us to be, and only people who never owned a house and living their entire life in a rented place knows the pain, they can't do anything as they wish and they can't even enjoy their moments, and need to please the owner to avoid any troubles but if you own it then you get to decide.

But it should be balanced, when one don't have any stable source of income should not go for a house, they should try to bring in more revenue stream and use the extra money to own a house.

[Btcdeybodi]

I see owning a house as a security but not a good investment because of the cost of maintenance. If you want shelter and to avoid paying rents all the time then you can own a house. There are still younger people who can afford a house but majority of them grow up with the mindset that they still have many years ahead to enjoy themselves before thinking of owning a house. However, i just see owning a house as an alternative in case of hard times when you can't afford a rent then you can move in to your own home. Buying a house gives comfort because you will be free from tenancy problems.

[MRY]

I see owning a house as a security but not a good investment because of the cost of maintenance. If you want shelter and to avoid paying rents all the time then you can own a house. There are still younger people who can afford a house but majority of them grow up with the mindset that they still have many years ahead to enjoy themselves before thinking of owning a house. However, i just see owning a house as an alternative in case of hard times when you can't afford a rent then you can move in to your own home. Buying a house gives comfort because you will be free from tenancy problems.

The feeling of home does bring tranquility in case of difficult time. Home maintenance may seldom be cheap, which in most cases proves to be a strain to homeowners, but the aspect of security is worth much more than still paying rent. I believe that this choice is quite useful to people, who desire to live freer without any concerns about the future.

[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.

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.

This are some basic importance most people don't know about owning a house, Know matter the amount paid as rent you can never be comfortable as you will be in your own personal house.
At times some misinterpret situations and place unnecessary value in a rented apartment because of how equip it is without knowing that a time one may not be buoyant financially to attend to our bills and with time once personal apartment can get to that same level if only little attention is channelled towards that direction.  
That is a common mistake responsible for most youths inability to get there own personal apartment as at when do but can be controlled when one decides not to place himself where his hands can't reach.

[Don Saga]

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 but rather an asset, and cannot be compared to living on rent. To a large extent, there is a certain degree of comfort that an owned house gives that cannot be felt with a rented apartment. How do you feel every month or year when you pay your rent? To me, it feels like I'm wasting money rather than investing.

Mobility is not really a limitation to having a permanent residence in cases of unforeseen circumstances or work purposes. It's a property that can increase in value over the years and the resale value is always more than the purchase value, what more validation do you need?

[SUPERSAIAN]

If you can afford it, I would say definitely become a homeowner. But right now, buying a house in big cities doesn't seem very sensible prices are very high, and getting a low-interest loan is difficult. Instead of spending all your money on a house, you could choose to invest your money and make more money with it. Buying a house is almost impossible right now, but at least you can make more money with what you have.

[Smack That Ace]

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 but rather an asset, and cannot be compared to living on rent. To a large extent, there is a certain degree of comfort that an owned house gives that cannot be felt with a rented apartment. How do you feel every month or year when you pay your rent? To me, it feels like I'm wasting money rather than investing.

Mobility is not really a limitation to having a permanent residence in cases of unforeseen circumstances or work purposes. It's a property that can increase in value over the years and the resale value is always more than the purchase value, what more validation do you need?

Indeed, people often cite maintenance costs, limited mobility, and the risk of natural disasters as reasons to argue that home ownership is a burden. But in reality, those reason only reflect that they lack the financial means to own a home.

Owning a home means we own an asset whose value increases over time. It is an asset that provides stability and security while also having the potential to generate passive income. How can we call that a burden?

Renting is a waste of money and can never compare to owning your own home. But yes, this is still a suitable solution for those who are not financially well-off.

[WatChe]

Yes, flexibility to relocate or having to travel for work all the time, that is pretty much all some people can come up with. But in my opinion, those are just ways of justifying their situation. The reality is that they probably cannot afford to buy a home yet.

Because let us be honest, owning a home barely has any downside at all. Owning a home means we own a valuable asset, even a very valuable one. It would not be honest to say that we do not need or want an asset like that.

Owning a house gives you mental peace and helps you in focusing other aspects of life. If you are living in rented property then you have to work hard not only to get profit but to pay for the rented property. These days rents are very high and a significant part of your earnings goes to pay rent of the property. My point of view is that owning a house is not a liability but a valuable asset whose value increases with time. If you get sick or don't have the ability to work anymore then you will be in great trouble if you don't have your own roof.

[Minor Miner]

We all have our own preferences, including when it comes to choosing an area or neighborhood to live in. We'll settle down somewhere if that's what we like, whether by finding a rental home or buying one ourselves, or even building one. Owning your own home is everyone's dream, and I'm sure anyone would admit they'd want one, whether it's for permanent residence or as an asset. I think even hard working people have goals or desires to achieve a comfortable life, and one of those goals is owning their own home. Those who can afford it are fortunate, as it's a dream they've already achieved. But I don't know any clear reason why renting is better than buying, maybe one of the reasons is the flexibility of moving but other than that I don't think there is any other reason.

Yes, flexibility to relocate or having to travel for work all the time, that is pretty much all some people can come up with. But in my opinion, those are just ways of justifying their situation. The reality is that they probably cannot afford to buy a home yet.

Because let us be honest, owning a home barely has any downside at all. Owning a home means we own a valuable asset, even a very valuable one. It would not be honest to say that we do not need or want an asset like that.

The house is not an asset, it is a liability and it can be considered as an asset only if it is rented to someone else. BUT A house is something more than an asset, it is a safe place for you to lay down with no worries but in this 21st century the real estate is highly inflated while the salary is just crawling that just enough to survive for that month.

By your logic, gold and Bitcoin would not be assets either, because when they are stored in a non custodial wallet, they do not generate any cash flow.

An asset does not have to produce cash flow to be considered an asset. As long as it has value and can be bought and sold, transferred, mortgaged, or its value increases over time. It is considered an asset.
You wont find any other type of asset like real estate that can both be used and appreciate over time, while also generating passive income through rentals, as you said.

The vast majority of real estate in the world is owned by billionaires and wealthy individuals. Do you really believe they are holding liabilities instead of assets? 

[Cryptmuster]

Owning a house gives you mental peace and helps you in focusing other aspects of life. If you are living in rented property then you have to work hard not only to get profit but to pay for the rented property. These days rents are very high and a significant part of your earnings goes to pay rent of the property. My point of view is that owning a house is not a liability but a valuable asset whose value increases with time. If you get sick or don't have the ability to work anymore then you will be in great trouble if you don't have your own roof.

If you buy a home in a good neighborhood at a good price, its value may increase over time. And the opposite can also happen, as property prices can fall because the real estate market has its own cycles and risks. On the other hand, if you rent, you end up paying a significant amount of money every month. But when you buy a home, you have to spend a large amount of money upfront.

[Sticky Bomb]

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.

That is the advantage of renting but if you're already settled into an area that you like to stay most, close to your work, to schools, hospitals, and even amusement parks, you'll like to settle there and want to own a land.

Houses can be built for lease to tenants. It's not a must to live there. There are major developing areas where you can liverage upon and build houses or even own lands of which is expected to appreciate in the future. Closeness to Airports, Market, tertiary institutions are good reasons to build commercial houses because it's naturally expected for accommodation to be in high demand, hotels too is a good idea. You can build for real estate investment prospects and not just for personal consumption. If you want to move out due to relocation, you can still lease the house or sell it. Owning a house is never a bad investment.

[Itz-prisigold]

If you buy a home in a good neighborhood at a good price, its value may increase over time. And the opposite can also happen, as property prices can fall because the real estate market has its own cycles and risks. On the other hand, if you rent, you end up paying a significant amount of money every month. But when you buy a home, you have to spend a large amount of money upfront.

You're right that there are financial considerations for renting and for buying.  One of the things that I feel sometimes people don't think about is flexibility. For individual that their job requires them to be frequently relocating, or who are still not certain about where they will live, renting may be a better choice.  In such situations, property ownership may be more of a burden than a benefit.

However, If you have a reasonably solid financial situation and you are okay with residing in only one home for quite some time, then you ought to take the plunge and purchase a house.  This decision should not be made simply on the basis of whether property values will increase or decrease.  It should also be based on your financial circumstances, future plans and if home ownership will be more beneficial to your overall finances rather than stressing a budget unnecessarily.

[Findingnemo]

~
By your logic, gold and Bitcoin would not be assets either, because when they are stored in a non custodial wallet, they do not generate any cash flow.

An asset does not have to produce cash flow to be considered an asset. As long as it has value and can be bought and sold, transferred, mortgaged, or its value increases over time. It is considered an asset.
You wont find any other type of asset like real estate that can both be used and appreciate over time, while also generating passive income through rentals, as you said.

The vast majority of real estate in the world is owned by billionaires and wealthy individuals. Do you really believe they are holding liabilities instead of assets? 

It seems you missed the point, we are not talking about any real estate but just a house for ourselves to live on and in that case it's a liability which isn't based on by personal opinion but widely accepted one by the investment experts all around the world.

I am sure house can bring returns too but it is not same as holding bitcoin or gold, because we are not spending any money for holding bitcoin but to keep the house valuable there is a maintenance cost, then there is property tax, electricity and water bill and many more. SO even if we own the house we are going to keep spending money on it every month.