Is renting an inevitable waste of money? - page 10.

Negotiation

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Quote from: og kush420 on February 28, 2023, 10:37:05 AM

Quote from: jrrsparkles on February 28, 2023, 09:32:04 AM

Rent mainly depends on the locality, and it subjective cause if you're a working person and need a house or an appartment very near to your working place then rent is cheaper compared to buying the same property, whereas in long term paying rent becomes obsolete while paying mortgage gets you a house at the end but if you're moving then you can simply switch your house when you're at rent but once you bought a house then it will be there forever.

most of the people are living in van and buses because they cannot afford rent. They are renovating their vehicles.
SAving as much as they could.
This is mainly because people have now started realizing that renting is a waster of money for sure

Renting is definitely a waste of money and many cannot afford to buy their own homes and cars then they were forced to travel by van and bus. Spend money very judiciously don't waste money on unnecessary purchases, instead spend money on necessities. If you have a little more income then you can spend a little more if necessary you can save it if you want.

og kush420

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Quote from: jrrsparkles on February 28, 2023, 09:32:04 AM

Rent mainly depends on the locality, and it subjective cause if you're a working person and need a house or an appartment very near to your working place then rent is cheaper compared to buying the same property, whereas in long term paying rent becomes obsolete while paying mortgage gets you a house at the end but if you're moving then you can simply switch your house when you're at rent but once you bought a house then it will be there forever.

most of the people are living in van and buses because they cannot afford rent. They are renovating their vehicles.
SAving as much as they could.
This is mainly because people have now started realizing that renting is a waster of money for sure

jrrsparkles

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Rent mainly depends on the locality, and it subjective cause if you're a working person and need a house or an appartment very near to your working place then rent is cheaper compared to buying the same property, whereas in long term paying rent becomes obsolete while paying mortgage gets you a house at the end but if you're moving then you can simply switch your house when you're at rent but once you bought a house then it will be there forever.

molsewid

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Quote from: Cryptmuster on February 27, 2023, 05:42:49 AM

If there is no other choice, then we are obliged to rent housing. Sometimes I think that maybe it's for the better, things have changed a lot in the last year and I've seen a lot of people have to leave their homes and move to other cities where they rent housing. If I have not spent the money to buy a home, then I will have reserves that will allow me to rent a home for a long time. For now, this is the best option for me, it may change in the future, but for now I will only rent an apartment.

Here in our country there's a rent to own condos that you can try if you want to have property but you only have a certain amount. Renting is not really an expense if that rent will be beneficial for your work and source of income as well as for your peace of mind then why not right? I am renting in a small apartment last year because I need to protect my peace of mind, but this year I went back home but next time if I will rent again it could be a rent to own that time.

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Quote from: solehdavid on February 27, 2023, 12:36:19 PM

If you don't have the money to buy, you have to pay rent, but if you have even the slightest chance, it has never made sense to me to rent something instead of buying it because at the end of the day you don't earn anything.

But you can be unemployed for a certain period of time and not be able to pay this money, or you can earn a lot more and pay off the loan in a much shorter period of time, so you have to be ready for any eventuality.

When you are too old to work, you will have paid tons of rent but you will not own anything, so what will you do then? This is not advice, but I would take the risk of taking a loan and buying a house.

The good thing is that this debt can encourage you to earn more and eventually you will own a house, the bad thing is that if you are unemployed for a while and you can't pay this debt because of an unexpected expense, then you have no choice but to sell the house back and start earning again.

I hope this has been helpful. I wish you a great house and so much money that you don't have to think about it for the rest of your life.

There comes a time in your life when you are sick and not working at all. Sometimes you loose your job but you have to get money from somewhere because you have to payoff the rent.
Having your own place has its own benefits - Renting is the waste of money

solehdavid

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If you don't have the money to buy, you have to pay rent, but if you have even the slightest chance, it has never made sense to me to rent something instead of buying it because at the end of the day you don't earn anything.

But you can be unemployed for a certain period of time and not be able to pay this money, or you can earn a lot more and pay off the loan in a much shorter period of time, so you have to be ready for any eventuality.

When you are too old to work, you will have paid tons of rent but you will not own anything, so what will you do then? This is not advice, but I would take the risk of taking a loan and buying a house.

The good thing is that this debt can encourage you to earn more and eventually you will own a house, the bad thing is that if you are unemployed for a while and you can't pay this debt because of an unexpected expense, then you have no choice but to sell the house back and start earning again.

I hope this has been helpful. I wish you a great house and so much money that you don't have to think about it for the rest of your life.

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Quote from: posi on February 27, 2023, 03:58:24 AM

I can agree, renting is an inevitable waste, I used to rent a house for 5 years, it's really wasteful but there is no other way. If I save enough money to buy a house in my country, then with the meager income of a worker like me, it will take more than 50 years for me to save enough money. But while our lives are apart from housing, we have hundreds of other expenses to take care of, so owning a home is sometimes impossible for many people, and the only option is rent.

If there is no other choice, then we are obliged to rent housing. Sometimes I think that maybe it's for the better, things have changed a lot in the last year and I've seen a lot of people have to leave their homes and move to other cities where they rent housing. If I have not spent the money to buy a home, then I will have reserves that will allow me to rent a home for a long time. For now, this is the best option for me, it may change in the future, but for now I will only rent an apartment.

posi

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I can agree, renting is an inevitable waste, I used to rent a house for 5 years, it's really wasteful but there is no other way. If I save enough money to buy a house in my country, then with the meager income of a worker like me, it will take more than 50 years for me to save enough money. But while our lives are apart from housing, we have hundreds of other expenses to take care of, so owning a home is sometimes impossible for many people, and the only option is rent.

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Quote from: Uruhara on February 27, 2023, 01:57:30 AM

Renting a house for a short period of time cannot be called a waste. but if for a long time then I think it could also be something that is not very good for our own economic growth in the future.

Yes, if you have a good plan and you are just trying to wait for your loan to have your own house, renting is not a waste
but a good start to plan about your future.

Quote

Taking a loan from a bank with low interest and then we buy a house with that money I think is much more effective. but on condition that we have calculated our financial ability to pay installments to the bank every month. but this step is indeed different from taking home installments (home loans). because the price of a house purchased in cash will be cheaper than buying a house on credit.

Low interest will help you to budget your finances, plus doing some side job to add up in your finances will also help you
to pay your loans. Thinking about long-term goal and planning ahead to make sure that you are capable of covering all your loans
and your daily needs are very important to assess before taking anything.

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Renting a house for a short period of time cannot be called a waste. but if for a long time then I think it could also be something that is not very good for our own economic growth in the future.

Taking a loan from a bank with low interest and then we buy a house with that money I think is much more effective. but on condition that we have calculated our financial ability to pay installments to the bank every month. but this step is indeed different from taking home installments (home loans). because the price of a house purchased in cash will be cheaper than buying a house on credit.

og kush420

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Quote from: STT on February 22, 2023, 07:54:08 PM

Renting is not inevitable as a waste just like you can lease a car and somehow its more sense then committing to buying and owning a depreciated car value in future. There's multiple costs and rates of loss to consider not just rent but the cost to own, the loss of opportunity to capital you must commit to a purchase and so on. If you have a better place elsewhere to invest then you may well prove the rental is smart use comparatively.

In my humble opinion one my have a small house. I have a rented apartment and i sometime dont have money to pay off my rent.
It was very stressful when I was jobless and had no source of income. So in my opinion Renting is surly a waste of money

og kush420

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Quote from: STT on February 22, 2023, 07:54:08 PM

Renting is not inevitable as a waste just like you can lease a car and somehow its more sense then committing to buying and owning a depreciated car value in future. There's multiple costs and rates of loss to consider not just rent but the cost to own, the loss of opportunity to capital you must commit to a purchase and so on. If you have a better place elsewhere to invest then you may well prove the rental is smart use comparatively.

In recent time - people shift so much - they make thier own homes and then leave the country for good and keep finding people to stay there is take care of their home.
And then they die in a rented home and a foreign land.

STT

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Renting is not inevitable as a waste just like you can lease a car and somehow its more sense then committing to buying and owning a depreciated car value in future. There's multiple costs and rates of loss to consider not just rent but the cost to own, the loss of opportunity to capital you must commit to a purchase and so on. If you have a better place elsewhere to invest then you may well prove the rental is smart use comparatively.

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Quote from: Rockstarguy on February 22, 2023, 06:26:00 PM

Quote from: Alphakilo on February 20, 2023, 07:17:04 PM

Renting is almost never a financial waste. Every person needs a roof over their head. Depending on your circumstances and resources, there is a fine line between renting and owning a home. You won't be subject to taxes as a tenant, and maintenance costs won't be excessive. Insurance for rentals is less expensive than for property owners.
Renting is almost never a financial waste. I've lived in a rented apartment for years, and I have a very free schedule. I never worry about being transferred because I always find a nice place to rent no matter where I am in the nation.

Renting is not waste, if one doesn't have enough money to buy a house there is nothing that can be done. People don't rent house because their is something special thing in renting house, but people rent because that is what they can afford at the moment. If everyone is buoyant to afford a house I don't think no one would want to be in a renting apartment. Renting is economical to people that does not money of buying a house , renting might also be a waste to people who can afford to buy a house.

Rent or you would be living with no roof and would be exposed to rain and shine?If you do have that sufficient money then you would be opting on going to rent.
Its true that not all could really afford out on buying a house and lot which means it leaves us no choice but to rent and would included out on our monthly expense.
As long you could sustain out yourself whether in short term or long term then what matter most is that you are living on a house although you are spending money on it monthly.

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Quote from: Alphakilo on February 20, 2023, 07:17:04 PM

Renting is almost never a financial waste. Every person needs a roof over their head. Depending on your circumstances and resources, there is a fine line between renting and owning a home. You won't be subject to taxes as a tenant, and maintenance costs won't be excessive. Insurance for rentals is less expensive than for property owners.
Renting is almost never a financial waste. I've lived in a rented apartment for years, and I have a very free schedule. I never worry about being transferred because I always find a nice place to rent no matter where I am in the nation.

Renting is not waste, if one doesn't have enough money to buy a house there is nothing that can be done. People don't rent house because their is something special thing in renting house, but people rent because that is what they can afford at the moment. If everyone is buoyant to afford a house I don't think no one would want to be in a renting apartment. Renting is economical to people that does not money of buying a house , renting might also be a waste to people who can afford to buy a house.

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Quote from: KennyR on February 20, 2023, 07:31:30 PM

Rather than renting, buying seems to be the better choice. With the same premium what we pay as rent it is possible to pay the premium for the property we've bought. There might be little difference in the rent and the buying premium, taking it as challenge and running for it will make us own a property in specific time period than renting the property for some time period and after some time period if we calculate what we've spend on rents stands high without anything owned by us.

Buying is always been good rather than on renting but we know that not all people does have the money for them to buy on huge amount and this is why they wont really be having no choice but to rent out.

It is really just easy to make out suggestions on buying without even trying to look out on others condition when we do know that we are not all capable.If its just that possible then we have done that since
from the start.

Its not a waste of money it is really just that we dont really have no choice but to rent out because we arent that capable for now, but if the time comes
or does have the opportunity then we would definitely be buying our own house or properties.

KennyR

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Rather than renting, buying seems to be the better choice. With the same premium what we pay as rent it is possible to pay the premium for the property we've bought. There might be little difference in the rent and the buying premium, taking it as challenge and running for it will make us own a property in specific time period than renting the property for some time period and after some time period if we calculate what we've spend on rents stands high without anything owned by us.

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Renting is almost never a financial waste. Every person needs a roof over their head. Depending on your circumstances and resources, there is a fine line between renting and owning a home. You won't be subject to taxes as a tenant, and maintenance costs won't be excessive. Insurance for rentals is less expensive than for property owners.
Renting is almost never a financial waste. I've lived in a rented apartment for years, and I have a very free schedule. I never worry about being transferred because I always find a nice place to rent no matter where I am in the nation.

GideonGono

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Yes it is a waste of money specially if you could have your own in any means like what OP has talked about (House Loan).
But for us who doesn't have enough money I see it as something like food and water it is necessary needs of us humans to have a safe place to stay.
To be honest I agree with OP if you already have a partner that has been living with you and helping you with everything you should consider settling down and buying your own house even if it ia through a loan, Just think about it if you would take a loan for a house you would pay for it monthly or every salary that you would get just like renting a house but at the end of it that house would be yours.

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Quote from: og kush420 on February 20, 2023, 05:25:14 AM

Quote from: blockman on February 19, 2023, 06:19:10 PM

Quote from: Theones on February 19, 2023, 05:35:41 PM

Moving to another place is hard. Be it a new city or the country
And I think the answer to this question varies. I am not in favour of Rent all the time - I would like to have my own place.

We all want to have our own place but renting is the solution for those that are moving from time to time. Like those who are digital nomads, they can transfer from one place to another and that's why it's very easy for them to move.
They don't need to think of anything they have to cover as their asset because for them, it's too easy and there's no hassle at all when they're moving from country to country. Adaptation is also interesting because they learn to bear with new culture.

That is correct - but one can sell the old home and get a new one.
In our religion we are advise to keep moving - this is one of the ways to lean. that life is not easy and that you should travel light

I don't know what your religion is, but for sure, the purpose of moving to another place is to attract or invite people to join your religion. The only thing that I've known is that there are other people in that religion who are visiting places to spread their word and also trying to convince people to join their religion or go to their church, but they are not transferring places; they will stay in that location for a couple of months, fulfill their mission, and then be sent back home again.

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