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Topic: Is renting an inevitable waste of money? (Read 2607 times)

hero member
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June 27, 2023, 03:38:48 AM
Renting a home can be seen as an inevitable waste of money by some, as the money spent on rent is not building equity or ownership in a property. However, there are situations where renting can be a more financially sound decision. If someone is unsure of their future plans or does not have the financial stability to afford a down payment on a home, renting may be the better option. Renting can provide flexibility in terms of location and lifestyle. Renters are not tied down to a specific property or location for an extended period of time, which can be beneficial for those who value mobility and change. Ultimately whether renting is a waste of money depends on individual circumstances and priorities. It is important to weigh the pros and cons of renting versus owning a home before making a decision.

Not everyone can afford a house and that's why renting of apartment are options available. If you're a single individual without any family living with you I think renting an apartment is the better option. Owning a house should only be considered when you have a family and it shouldn't be down without the approval of your spouse because she mightn't like the house you bought and won't want to raise a family in the house.

Don't own a house until you're married so the both of you can choose the house to buy together and that's if you have the money to finance the buying of the house. For those that aren't capable, they should continue renting until they get better paying jobs to own a house.
sr. member
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Returning to the concerns raised by the OP, when the location of one's home is highly incompatible with the workplace, it inevitably results in additional daily expenses for the individual. This is quite understandable, as urban housing prices are significantly higher compared to rural areas.

If you work in the city while residing in a village, there will be extra costs incurred every day for commuting to work. This leads to an inflated budget for housing. Taking into account the nature of one's occupation and the extent of their needs greatly influences the decision-making process in determining whether to rent a home or pursue a mortgage.
Well, this is also happening to me right now. Incidentally, I am not married and have no inheritance from my parents. My job is far from my parents' house, so I automatically have to rent in the city and work assignments also change every year, so I haven't prioritized buying a house. Because there are concerns as you convey.

But even if I have the chance, I still choose to rent while saving. I will buy land first, build the house gradually (literally). The important thing is that the house is safe from the heat and rain first, the electricity is on, and there is plenty of clean water. Why wake up alone? Have surveyed public housing that is affordable, but the specifications of the building are very far from expectations. If we build our own house, we know our building materials, it takes more effort, but it's so worth it. If there is more fortune, you can continue to make what is still lacking, if you don't have money, stop first. Because if we build our own house without credit, we wake up without worrying about the bank confiscating the house.

So renting as a waste really all depends on each individual person, because only we can analyze our own finances and use them wisely. because listening to other people's opinions is not necessarily what we can apply too.
hero member
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Renting a house on average has been experienced by every human being who has a mediocre economic income, but that doesn't mean that every money we spend every month/year is an act of waste, many people who rent a place to live are forward-thinking for their future.

By renting a house someone can think of working hard to earn their economy, they think it is impossible forever we live in a state of living in a rented place, a lot can be done for €25,000.
Example:
If you spend €25,000 in 6 years, that means you spend €347/month in 72 months=6 years.
If, you are thinking of looking for a credit house with installments of €347/month in 6 years, maybe you should do it, in my opinion, a simple type of house can already be with installments of that size, automatically within 6 years you already have your own home, if you think rent is wasteful.

Returning to the concerns raised by the OP, when the location of one's home is highly incompatible with the workplace, it inevitably results in additional daily expenses for the individual. This is quite understandable, as urban housing prices are significantly higher compared to rural areas.

If you work in the city while residing in a village, there will be extra costs incurred every day for commuting to work. This leads to an inflated budget for housing. Taking into account the nature of one's occupation and the extent of their needs greatly influences the decision-making process in determining whether to rent a home or pursue a mortgage.
hero member
Activity: 1932
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Renting Money is the thing that makes us consumptive, most people Renting Money is only for useless activities such as buying new gadgets, motorcycles, buying new car, etc, if we are Renting Money and used effectively such as adding business capital, of course this is good and appropriate.
Renting to increase business capital is certainly very appropriate and also very reasonable because the goal is to make more money with this capital. But if renting is only for consumption, I think it makes no sense because in the end we have to pay for what we have rented. But that doesn't include when someone just wants to rent a car and a specific place to do a job because in the end he just pays the rent and returns the car to its original owner.

this is not always the case, in fact renting goods that are always used is a waste, such as housing, gadgets, vehicles and other items that have become basic necessities in everyday life, in fact buying them includes cost savings.
Usually the people who rent something important are those who have enough money to buy it.
I agree if it is said that renting is a waste, but that's not all things, there are some things that are really better to rent than to buy, things we don't always use.
There are indeed things that are better rented than bought if it is only to be used once in a lifetime. But if it's things that are often used and consumed every day, I don't think it's very good to rent every day because we need to buy them and make them as private owners so that they can be used or consumed every day without having to pay rent. And it's true that it's a form of savings for everyone in their life as you say, because everyone will experience waste when they have to continue to pay rent on what they use every day.
full member
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Renting a home can be seen as an inevitable waste of money by some, as the money spent on rent is not building equity or ownership in a property. However, there are situations where renting can be a more financially sound decision. If someone is unsure of their future plans or does not have the financial stability to afford a down payment on a home, renting may be the better option. Renting can provide flexibility in terms of location and lifestyle. Renters are not tied down to a specific property or location for an extended period of time, which can be beneficial for those who value mobility and change. Ultimately whether renting is a waste of money depends on individual circumstances and priorities. It is important to weigh the pros and cons of renting versus owning a home before making a decision.
full member
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Renting Money is the thing that makes us consumptive, most people Renting Money is only for useless activities such as buying new gadgets, motorcycles, buying new car, etc, if we are Renting Money and used effectively such as adding business capital, of course this is good and appropriate.
this is not always the case, in fact renting goods that are always used is a waste, such as housing, gadgets, vehicles and other items that have become basic necessities in everyday life, in fact buying them includes cost savings.
Usually the people who rent something important are those who have enough money to buy it.
I agree if it is said that renting is a waste, but that's not all things, there are some things that are really better to rent than to buy, things we don't always use.
member
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Renting Money is the thing that makes us consumptive, most people Renting Money is only for useless activities such as buying new gadgets, motorcycles, buying new car, etc, if we are Renting Money and used effectively such as adding business capital, of course this is good and appropriate.
full member
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I try to do a simple calculation for all 1 month's expenses encapsulated in $1000, and over the next 50 years I'll lose somewhere around $600,000 that's excluding inflation. So the goal of reaching $ 1m will meet most of the needs in the family for a long time if only renting a house, maybe the real estate prices are different in each place so people will have different views about the house owning or renting, as I personally have a small house in the countryside, but I still don't choose to live in another place where the rent is quite cheap compared to my income. The problem of balancing income and expenses in life will make the family economic problem solved, not everything in life will be achieved as desired, can live stably or luxuriously like poverty, it's all up to us to decide.
legendary
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Renting is flexibility for the tenant and the landlord to some extent.   I've rented very cheaply in some places and that was totally the correct choice as I was always at work and barely home so what did it matter if I just rented a very humble place to sleep.  Im an ideal tenant for the landlord perhaps because I occupy an otherwise empty property and there is always somebody there in the night to upset anyone who has designs on interfering or stealing from the property in some way.
   I do think some people over pay but thats not inevitable, we dont have to have a housing shortage but I acknowledge in lots of busy cities that is the case unfortunately.  I hope distance working changes the world, makes population resource management more dynamic and land use more efficient but maybe we arent there yet.
Flexibility is the keyword! Imagine being a wanderer in the apartment world, ready to bounce when life's winds alter course. Plus, ditching that faulty faucet to your landlord while enjoying your series is a bonus. On high rent concerns, remember, it's not a rigid rule! Supply and demand govern it. Tenants want bargains, landlords eye maximum returns. But hey, it's the digital era! We're almost telecommuting from Mars (Elon, you're on the radar!). So, can't we solve the housing crisis? Remote work could ease city overcrowding.
STT
legendary
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Renting is flexibility for the tenant and the landlord to some extent.   I've rented very cheaply in some places and that was totally the correct choice as I was always at work and barely home so what did it matter if I just rented a very humble place to sleep.  Im an ideal tenant for the landlord perhaps because I occupy an otherwise empty property and there is always somebody there in the night to upset anyone who has designs on interfering or stealing from the property in some way.
   I do think some people over pay but thats not inevitable, we dont have to have a housing shortage but I acknowledge in lots of busy cities that is the case unfortunately.  I hope distance working changes the world, makes population resource management more dynamic and land use more efficient but maybe we arent there yet.
hero member
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Renting something if not to open a certain business will obviously be very detrimental. Because if it's only for a place to live, in the neighborhood where I live now there is a credit system for those who can't afford to buy a house in cash for a certain period of time. And I think this is a very wise choice because they can pay off their credit every month until everything is paid off, because some people who have taken home loans for their residence are also not that difficult to pay off their credit every month.
Now many houses available for any size can be purchased at a more affordable price than paying rent for a house every year but you never own the house, if you don't pay the next year's rent then you have to return the house keys to the owner, so it's better to buy a house for the future credit over 5 years to get low repayment costs, but if you have income then you can apply for a home loan purchase under 5 years to have a home ownership certificate.
Here in our country on which those housing developers do offer their houses even on the cheapest one isnt something that could be get by an average worker plus it does really still require lots of paperworks and something in related which its understandable since its a non cheap business where occupants and buyers should really be that something eligible on getting some unit and not really just that good for few months
until they couldnt be able to pay up their mortgage. No matter how small it would be, the interest and long term payment is something that would really be hindering you on finishing it out in the end of the line.
This is why most people doesnt have no choice but to pay up and look for some rented house.
Same here on which in our country which there is really some cheap housing offers on which the monthly amortization is really that cheap and something that could really be able to afford
but in exchange it would really be a very long time kind of contract which it would really be playing around 20-30 years which is something that absurd. If you are really that good in math
or calculations then you would really be able to say that their interest is really that high and this is where developers do really make tons of money which it isnt really that shocking
anymore.

This is why to those people who do opt out on renting are to those who doesnt really like to have such kind of deal or something to those people who had been declined on acquiring
these cheap housings (not cheap at all) if you do make out calculations. Its a waste of money actually but is there any choice that we could make on?
If we dont really have no choice then we do really ends up on something like this.
hero member
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It is really an inevitable waste of money indeed, but their nothing me or anybody that didn't have an inherited or personal house can do about this situation unless you are planning to make yours a reality, rent has become one of the major thing that takes more more from people today
You think it's a waste if you're not benefiting from it. There are working people that go from place to place and there's no other option but to rent.
That's the only way for them to save time from going to work so they rent places that are close to their offices and it's no waste of money because they save time. So either choose, spend more time traveling going to work but the expenses are the same when you commute.
Or do rent and use that budget for commuting for it. Circumstances do permit us and that's why it's essential for us to look at the sides where we'll mostly going to be beneficial upon renting. Not everyone is in good condition to have a house that's inherited from their parents. We're not all born with a silver spoon.
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It is really an inevitable waste of money indeed, but their nothing me or anybody that didn't have an inherited or personal house can do about this situation unless you are planning to make yours a reality, rent has become one of the major thing that takes more more from people today
hero member
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There are still people who think renting is far better than just buying properties or real estate. However buying them has got a plus point in the long terms and that’s increasing valuation for those properties.  The value of land, house, shop, or basically any solid state property would always rise with the time because of the demand and supply circulation. Over the period of time population would grow exponentially and it will cause ultimately up surge in the demand of such properties. Take example of overly populated city with urbanisation. The cost of apartment, small suits or shops has got skyline prices. No one could afford it but those who had invested into it already would benefit from it. I think it’s far better to have possession of the property rather than just renting it out.
In today's time if you own your house you are among rich ones because the value land and properties are extremely high and its almost unaffordable to buy it on your own so you have to go for rental options .
Yea that takes your maximum income and earnings as rents are high too but these things are essential you cant run away from them.
full member
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There are still people who think renting is far better than just buying properties or real estate. However buying them has got a plus point in the long terms and that’s increasing valuation for those properties.  The value of land, house, shop, or basically any solid state property would always rise with the time because of the demand and supply circulation. Over the period of time population would grow exponentially and it will cause ultimately up surge in the demand of such properties. Take example of overly populated city with urbanisation. The cost of apartment, small suits or shops has got skyline prices. No one could afford it but those who had invested into it already would benefit from it. I think it’s far better to have possession of the property rather than just renting it out.
full member
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It depends on your financial situation, lifestyle and long term goals. If you plan to stay in a particular location for a short period of time, renting can be a cost effective option compared to buying a house. Renting also provides flexibility and freedom to move without the burden of selling a property. If you plan to stay in a location for an extended period, buying a house may be a better investment option. Owning a house has the potential to build equity and provide long term financial benefits. Owning a house can provide stability and sense of ownership that renting cannot. It is hard to weigh the pros and cons of renting versus buying and consider your financial goals before making any decision. It would really depend on you on what is your target goal.
hero member
Activity: 1932
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Now many houses available for any size can be purchased at a more affordable price than paying rent for a house every year but you never own the house, if you don't pay the next year's rent then you have to return the house keys to the owner, so it's better to buy a house for the future credit over 5 years to get low repayment costs, but if you have income then you can apply for a home loan purchase under 5 years to have a home ownership certificate.
I have also considered this suggestion before because I am currently looking for a new home for a more comfortable place to live, so at this point I am also starting to think about several options so that in the end I can get a house and make it my own. But on the one hand, I'm not the type of person who likes credit, so that's what still hinders me from making decisions at this time, even though when I digest it myself, suggestions like what you said have a point to do.
legendary
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Renting something if not to open a certain business will obviously be very detrimental. Because if it's only for a place to live, in the neighborhood where I live now there is a credit system for those who can't afford to buy a house in cash for a certain period of time. And I think this is a very wise choice because they can pay off their credit every month until everything is paid off, because some people who have taken home loans for their residence are also not that difficult to pay off their credit every month.
Now many houses available for any size can be purchased at a more affordable price than paying rent for a house every year but you never own the house, if you don't pay the next year's rent then you have to return the house keys to the owner, so it's better to buy a house for the future credit over 5 years to get low repayment costs, but if you have income then you can apply for a home loan purchase under 5 years to have a home ownership certificate.
Here in our country on which those housing developers do offer their houses even on the cheapest one isnt something that could be get by an average worker plus it does really still require lots of paperworks and something in related which its understandable since its a non cheap business where occupants and buyers should really be that something eligible on getting some unit and not really just that good for few months
until they couldnt be able to pay up their mortgage. No matter how small it would be, the interest and long term payment is something that would really be hindering you on finishing it out in the end of the line.
This is why most people doesnt have no choice but to pay up and look for some rented house.
hero member
Activity: 2184
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Renting something if not to open a certain business will obviously be very detrimental. Because if it's only for a place to live, in the neighborhood where I live now there is a credit system for those who can't afford to buy a house in cash for a certain period of time. And I think this is a very wise choice because they can pay off their credit every month until everything is paid off, because some people who have taken home loans for their residence are also not that difficult to pay off their credit every month.
Now many houses available for any size can be purchased at a more affordable price than paying rent for a house every year but you never own the house, if you don't pay the next year's rent then you have to return the house keys to the owner, so it's better to buy a house for the future credit over 5 years to get low repayment costs, but if you have income then you can apply for a home loan purchase under 5 years to have a home ownership certificate.
hero member
Activity: 1932
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Renting is really wasting money if you only rent then nothing is left on you at the end, in my country there are houses or company that has a rent to own program you will rent thier house for a couple of years and after that you will own that houses which is very good deal but expect that the price is more expensive than a normal house price, because that was also thier business they need to have a profit on it but it helps a lot specially to those who cant afford to build or buy in cash basis.
Renting something if not to open a certain business will obviously be very detrimental. Because if it's only for a place to live, in the neighborhood where I live now there is a credit system for those who can't afford to buy a house in cash for a certain period of time. And I think this is a very wise choice because they can pay off their credit every month until everything is paid off, because some people who have taken home loans for their residence are also not that difficult to pay off their credit every month.
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