Rent over buying of house?

[puloweh555]

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.

Ultimately, it all comes down to your goals, mindset and circumstances regarding whether to buy or rent a house. However, if you're on a tight budget renting can be financially better especially if you're disciplined in your investments. With the money you have to buy a house you can rent first and then invest.

So, after you invest you can reap the benefits of your investment especially in my country, where house prices rise slowly each year. Investing especially in Bitcoin can yield greater returns if you invest wisely. So, the idea of ​​rent first invest the money then buy a house later is the best strategy if executed with discipline. A house is important for long-term comfort, but if you're single and don't have a family to comfortably afford a home you need to reinvest your money first. Most importantly and you must be able to calculate it own a house for comfort, but not for the rush to own one. Renting first while investing is often the smartest strategy for building a better financial future.

[Kalchef]

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.

So if one has the money to build a house of their own they should just do it?  The situation of house building in my country presently isn't as bad as those in America, with $20,000 you will build a very good looking house here.

Unlike America where it costs over two kidneys lol,  even a wooden house is Gold over there, anyways, I am on that verge of building my own place, the work is already on, roofing is next but deep down I feel like maybe I should have invest the money.

Investing the money carries risks I said to myself, and building materials are skyrocketing already, I don't want to wait too long and I also believe that this won't be my last, your advice did woke something in me in case you don't know.

[JoyceBTC]

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.

Owning a house is good because it saves you the stress of paying rents yearly depending on your residency but since we know that it is not possible for everyone to be able to build or buy a house in this current economy it is not bad if those who are aspering to own a home some day start with a rented apartment before saving up money for a house of their own.  A house is never liability because it is a good asset since land doesn't depreciate even when the building is old, if you own a house you can decide to sell it in future for the money 5o be used to buy another property in a different location and you will still have a roof and have some money back in your account.

[Bitcoin Maxi]

Owing a house is not a liability especially when you're stable and ready to settle in a particular location. Owing a house is the best because with time you're going to be glad you did other than renting. Renting comes with a whole lot. With time the rent might increase, you might not even be able to set up a rented apartment to your desired taste since it not your own.
If ones nature of work is one that changes the person location every time you might just be left with the option of renting because you can't purchase or own a house in a place you know you won't stay for long.

[Mpamaegbu]

Having your own house gives you peace of mind you will never get when renting a house...

That peace of mind can't be overemphasized. It's paramount but a lot of people won't understand that until they live in rented apartments with those who've animalistic tendencies; neighbours who behave stupidly without any iota of sense and sensibilities.

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...

The way rent tripled in the last few years in Nigeria calls for serious concern. I can understand it when those building recently top their rent but what about old houses? Some of those old houses don't even have half of the amenities the new structures have, yet they want to compete with them in rent. It's really sad that there's no price control anymore in the country. This isn't even just a rent thing. It transverses every other stuff in our country.

[Soldroplet]

To be honest, whether a person rents a house or buys a house depends entirely on his earned money. If someone has a lot of money, he can buy a new house after a month or a year, but if a person has less money, then that person will have to rent a house, since he cannot afford to buy a house.
Basically, if you plan to stay in a rented place for 10 to 20 years or more, then you need to keep some things in mind.
1/you will have to pay rent every month.2/ The value of the land and the house will increase with time.3/ You have to take the risk of increasing the rent.
Similarly, if you buy a house yourself, then you will not have to worry about paying rent every month. There will be no fear of increasing the value of the land and the house with time and there will be no risk of increasing the rent. You will not have to spend extra money to maintain the house.
Nowadays, the price of everything is increasing everywhere, so buying a house costs a lot. But if you have got a job for a few days and you have decided that you will live here for four to five months, then there is no question of buying a house.
Finally, I would like to say one thing, if a person plans to stay permanently, it is better to buy a house, and if it is for a short or uncertain period, it is more convenient to rent.

[Mame89]

Owing a house is not a liability especially when you're stable and ready to settle in a particular location. Owing a house is the best because with time you're going to be glad you did other than renting. Renting comes with a whole lot. With time the rent might increase, you might not even be able to set up a rented apartment to your desired taste since it not your own.
If ones nature of work is one that changes the person location every time you might just be left with the option of renting because you can't purchase or own a house in a place you know you won't stay for long.

Absolutely. The decision to buy or rent a house really depends on each individual situation as there's no definitive answer between the two.
If you already have a relatively stable job and intend to stay long term, buying a house is a good choice, especially since houses tend to appreciate in value over time especially in strategic locations. Rent also tends to increase annually.

Conversely, if you frequently move from job to job, or don't have enough money to buy a house, and want to avoid mortgages renting is the best option. Especially if you're unsure about the location rent first while investing in a place with a higher return, so you can buy a house in the future.

[Cookdata]

Owing a house is not a liability especially when you're stable and ready to settle in a particular location. Owing a house is the best because with time you're going to be glad you did other than renting. Renting comes with a whole lot. With time the rent might increase, you might not even be able to set up a rented apartment to your desired taste since it not your own.
If ones nature of work is one that changes the person location every time you might just be left with the option of renting because you can't purchase or own a house in a place you know you won't stay for long.

I can't stretch this enough but anyone from my region knows the importance of owning a house. Where I am renting today mark it 3 years and I can tell you that the price has been increase by 1.6x, to have such kind of standard place in the same estate now, you need to hold 2x of the amount I'm paying for a new well finished apartments. I can't even project how this is going to be in the next 5 years but definitely there is going to be increase in prices because inflation rate isn't even stable.

Imagine owning my personal home for since the last 3 years, I would have saved a lot of money and be able to do better maintenance but the problem is I don't plan to stay here for long time. Assuming I'm going to use my whole life in this place, I'm getting a permanent house here to avoid this uncertain house cost and future uncertainty. There is nothing that beat having your personal house, good thing you will be able sell it at good price if you decide to sell or move to another location.

[Korvane.io]

Honestly, the traditional "rent vs. buy" debate is missing a massive shift happening right now.

Buying locks you into a 30-year ball and chain, while renting often feels like throwing money away. But the middle ground is arriving fast through asset tokenization.

Instead of needing a massive down payment for a whole house, tokenization allows you to buy fractional shares of real estate on-chain. You get the exposure to property appreciation and rental income without the headache of a massive mortgage or a landlord.

For me, the future isn't just renting or buying—it's renting where you live for flexibility, and owning tokens of real estate for wealth building.

[Obulis]

The argument of owing or renting a house is neither here nor there. The choice on what to do depends on who is involved and what condition is prevalent to them at the time of making their choice. I don't want to believe that any decision is better than the other on this. For instance, it costs more to own a house but in owing that house it may guarantee you the unnecessary issues of living in a public rented apartment with neighbours. In renting, you pay less and can easily move to a better environment once you're fed up with your current location or when circumstances of your job demands it or of any other inconveniences that may arise. Notably, it's the fact that you may not even spend half of what you will spend on owing a house on renting before passing on. This is to say that owing a house also ties up your capital.

Owning a house for me is actually the best thing to do between owning a house and renting a house. As much as necessities will influence decision to be made that doesn't undermine mindset check as per people doing energetically what will never benefit on a long run because of their views or decisions in life. Just loving a location for whatever reason but not necessarily insecurities and other uncontrollables has kept many people in rented apartment only for one of two to happen or them passing out and the family is found in serious accomodations problem. Owning a personal house has been the best thing to for ages now!

[Dogedegen]

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.

This is such a well written explanation, especially the last part on shorting the market. I do not think anyone educated chooses to rent, because if you do the math on the rent and the cost of acquiring a similar house or apartment it does not add up at all. Sometimes people who want to reach a specific conclusion will do a biased comparison, so they would take the rent where they live and compare it to their unaffordable dream house in an expensive location and make a false case for renting. I have done the math many times, and I can buy the house for the same amount in rent I would pay in many cases in 10 years but always under 20 years. So if someone chooses to rent this long they are just being crazy, you burn away a whole house worth of money and have nothing to show for!

I can't stretch this enough but anyone from my region knows the importance of owning a house. Where I am renting today mark it 3 years and I can tell you that the price has been increase by 1.6x, to have such kind of standard place in the same estate now, you need to hold 2x of the amount I'm paying for a new well finished apartments. I can't even project how this is going to be in the next 5 years but definitely there is going to be increase in prices because inflation rate isn't even stable.

Imagine owning my personal home for since the last 3 years, I would have saved a lot of money and be able to do better maintenance but the problem is I don't plan to stay here for long time. Assuming I'm going to use my whole life in this place, I'm getting a permanent house here to avoid this uncertain house cost and future uncertainty. There is nothing that beat having your personal house, good thing you will be able sell it at good price if you decide to sell or move to another location.

The first house is never a liability, there is nothing to discuss here as this is a clear topic with a clear answer. The side that argues in favor of renting is wrong. People who are financially capable and understand the math will quickly realize that buying even with a loan is going to work out better than renting in the long run. A well built house that is regularly maintained does not cost a lot in maintenance if it is done right. It usually costs a lot if the house is oversized or inefficient and if problems are ignored for long and then small repairs turn into big costs. The house is a liability idea comes from some online influencers that wanted to get some fame by saying something controversial and different, but it is not true. I also look forward to owning my own home.

[DYOR+BTC]

To me know matter how cheap any house rent appears to be i can never choose it over getting my own personal apartment,  not that am against renting an apartment but just that it is better to live in once personal single room than to live  in a rented duplex with complete comfort.
In a rented apartment one has to live with be it relevant or irrelevant instructions that suits the landlord even if it goes against your own believe,  so to avoid all this nonsense the best is to make provision for once personal apartment be it big or small its better there.

[Versatile_choice]

To me know matter how cheap any house rent appears to be i can never choose it over getting my own personal apartment,  not that am against renting an apartment but just that it is better to live in once personal single room than to live  in a rented duplex with complete comfort.
In a rented apartment one has to live with be it relevant or irrelevant instructions that suits the landlord even if it goes against your own believe,  so to avoid all this nonsense the best is to make provision for once personal apartment be it big or small its better there.

It is not about getting your own apartment, of course getting your own apartment is a very good idea of which everyone would want to get an apartment of thier own. But the expenses I mean the cost of getting your own personal apartment is giving a lot of people concern, even ordinary self-con most people can't afford it here talk more of building one-bed. That is why sometimes I don't blame those who prefer rent over buying a house because they know what it takes to build a house of  thier own.

[Grace333]

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.

Owning a house is good because it saves you the stress of paying rents yearly depending on your residency but since we know that it is not possible for everyone to be able to build or buy a house in this current economy it is not bad if those who are aspering to own a home some day start with a rented apartment before saving up money for a house of their own.  A house is never liability because it is a good asset since land doesn't depreciate even when the building is old, if you own a house you can decide to sell it in future for the money 5o be used to buy another property in a different location and you will still have a roof and have some money back in your account.

My own personal take on this matter is, owning a house in the form of a condo so you have what will actually generate money for you while you leave comfortably in your own place without having to pay rent. This should be the first ever building any young person should have. It's good to own a separate apartment for yourself but that should be majorly when your family is beginning to grow, but for a single persons it's best you stick to a condo or pay rent.

[STT]

Best way to value anything is by ratio so you divide the cost of buying the house, including interest if needed by the rent you would have to pay to own the same place.   If its 50 years of rent to buy the house, you should probably just rent and take it as cheap.
  Also the reasoning to being able to identify a market that's gotten too expensive is you can avoid owning the asset while its price falls, an invaluable saving but hard to time precisely.  If we assume somebody especially young will have to move at some point sooner or later; its worth considering renting as somehow a money saving option at times with reference to this ratio idea.

[Dewali]

       I will say depending on what you have at the moment,if you're a type that's till struggling then u have no option than to rent a house for urself . As time goes on ,one will ultimately need to look for a way of get more income in order to have a house for himself in order to serve as security then henforth any other house one decided to have aside the already first should serve as an asset in order ro accumulate more asset . Over the cause human civilization one of the best way and effective ways of accumulating wealth has been through land ownership and investing into it.

[L E G E N D A R Y]

Best way to value anything is by ratio so you divide the cost of buying the house, including interest if needed by the rent you would have to pay to own the same place.   If its 50 years of rent to buy the house, you should probably just rent and take it as cheap.
  Also the reasoning to being able to identify a market that's gotten too expensive is you can avoid owning the asset while its price falls, an invaluable saving but hard to time precisely.  If we assume somebody especially young will have to move at some point sooner or later; its worth considering renting as somehow a money saving option at times with reference to this ratio idea.

Yeah. Most people feel like the best option remains to own your own house, but in some cases it’s never true. Owning a home isn’t always the best option in some cases because the moment owning your home becomes far more cost efficient than renting, then renting makes more sense in such situations as this could enable you to save and invest more over the long term.

[CageMabok]

My own personal take on this matter is, owning a house in the form of a condo so you have what will actually generate money for you while you leave comfortably in your own place without having to pay rent. This should be the first ever building any young person should have. It's good to own a separate apartment for yourself but that should be majorly when your family is beginning to grow, but for a single persons it's best you stick to a condo or pay rent.

Singles and those with families and children will certainly have different choices when it comes to housing. From what I've seen in my neighborhood, almost all married people prefer to own their own home rather than renting, as it can save them a bit at the end of the month or at the end of the year. For single people, renting a home is certainly not a bad idea, as the cost of living is still relatively small, especially if their income is already substantial and more than sufficient for their own living. Therefore, those who are able to think wisely about this will certainly choose a more suitable option for living independently.

[bakasabo]

Best way to value anything is by ratio so you divide the cost of buying the house, including interest if needed by the rent you would have to pay to own the same place.   If its 50 years of rent to buy the house, you should probably just rent and take it as cheap.
  Also the reasoning to being able to identify a market that's gotten too expensive is you can avoid owning the asset while its price falls, an invaluable saving but hard to time precisely.  If we assume somebody especially young will have to move at some point sooner or later; its worth considering renting as somehow a money saving option at times with reference to this ratio idea.

Yeah. Most people feel like the best option remains to own your own house, but in some cases it’s never true. Owning a home isn’t always the best option in some cases because the moment owning your home becomes far more cost efficient than renting, then renting makes more sense in such situations as this could enable you to save and invest more over the long term.

Not sure if renting can help to save. Calculation must be done. Isnt paying rent + paying bill > paying mortgage + paying bills? At my place renting a house cost 2-3k EUR per month, but those who took mortgage, pay usually around 1k EUR monthly during 20-25 years. I think that if you cant manage to pay mortgage for buying a house, it is no use of dreaming of owning a house. Either get more paid or rent a house for few weeks or month during summer to enjoy time. Or be more realistic.

[Findingnemo]

~
Not sure if renting can help to save. Calculation must be done. Isnt paying rent + paying bill > paying mortgage + paying bills? At my place renting a house cost 2-3k EUR per month, but those who took mortgage, pay usually around 1k EUR monthly during 20-25 years. I think that if you cant manage to pay mortgage for buying a house, it is no use of dreaming of owning a house. Either get more paid or rent a house for few weeks or month during summer to enjoy time. Or be more realistic.

It varies depends on the location, where I live the mortgage for 15 years even cost 3x to 5x than the rent for that place so wise decision is to just pay the rent instead of going with mortgage but there's also place where real estate value is so high that the cost of the house itself in multiple millions so the monthly payment will be like 10x for 20 years.