I live on my own on a rental. I can relate to this so much. I make small amount of money and the rent is low too. But at the month's end, I am left with just a little to survive. Renting is not what everyone should do if not extremely necessary. I think somehow getting a house on your own will be the best option even if you have to work overtime.
Trying to save some income to buy a house, but in the end. I'm left with nothing.
Topic: Is renting an inevitable waste of money? - page 15. (Read 2609 times)
Home is a place where one can rest after the tiredness of the whole day. If sitting at the resting place, the resting place must be marked with payment, if it is more painful or distressing. So, Ownership flat is very necessary. Other wise, house rent payment is very difficult. Because, Infaltion reason house rent amount high. Otherwise, renting or buying a house with a loan is stressful and there is no guarantee of surviving the loan tenure in the future. Even repaying the high cost of the loan is a difficult matter.
One trick I saw was to rent, lease or even mortgage a house boat. A barge can be adapted into being living accomodation and depending how open the banks are locally this can be used as proof towards eventually getting a house. I heard of this idea twenty years ago but also recently, so its an established idea for very small living accommodation that can be cheaper then a flat by quite alot. Because you are paying debt in a similar way to a large house it helps build a credit history and so on, its actually productive. Similar renting can be a way to prove regular contribution and budgeting towards regular living that a bank likes to see.
The average rent for a one-bedroom apartment is between €300 and €400 at best; thus, I was thinking that taking a loan is as costly as paying rent per month, but after 15-20 years, you end up with a house. My main concerns are the following: First, if you're in a long-term relationship like myself, you can never be 100% sure that you'll be with that person in 20 or 30 years from now, which might prevent you from opting for a loan. Secondly, you need to be certain that the location or city of the property to be bought is convenient for future job offers and so on. Thirdly, because a loan is a many-year commitment, there's no guarantee that you'll be able to afford the monthly payment 15 years from now.
Taking a loan is as expensive as renting an apartment but it has it's advantage of making you the owner of the house after a period of time lets say 15 -20 years as mentioned in OP when the loan is finally settled. And i was also thinking that there is no point been in a long term relationship when the picture of how the relationship will be in the next 15 - 30 years is not clear. The longer we spend we people the more we know if we really want to be with them or not. Secondly since it is still a relationship with no legal document binding you both taking a loan has nothing to do with your relationship. Except you both are paying for it togetherThe average rent for a one-bedroom apartment is between €300 and €400 at best; thus, I was thinking that taking a loan is as costly as paying rent per month, but after 15-20 years, you end up with a house. My main concerns are the following: First, if you're in a long-term relationship like myself, you can never be 100% sure that you'll be with that person in 20 or 30 years from now, which might prevent you from opting for a loan. Secondly, you need to be certain that the location or city of the property to be bought is convenient for future job offers and so on. Thirdly, because a loan is a many-year commitment, there's no guarantee that you'll be able to afford the monthly payment 15 years from now.
Taking a loan is as expensive as renting an apartment but it has it's advantage of making you the owner of the house after a period of time lets say 15 -20 years as mentioned in OP when the loan is finally settled. And i was also thinking that there is no point been in a long term relationship when the picture of how the relationship will be in the next 15 - 30 years is not clear. The longer we spend we people the more we know if we really want to be with them or not. Secondly since it is still a relationship with no legal document binding you both taking a loan has nothing to do with your relationship. Except you both are paying for it together 
I personally think renting is wasting money. I'm also currently renting and planning to buy a cheap house in the suburbs soon because house prices and the cost of renting houses in the city center keep going up and I think it would be better if I had my own house even though it's on the outskirts of town.
Yes, the cost of rent is indeed increasing from year to year and it is very important to make the decision to buy a house even though the costs required are also not small,If you think for the long term, buying a house is definitely the right decision,
but regardless of whatever it is everyone has his own decision.
Where I live renting is considered "a bad thing" since for the same money and time period you could get your own place.
But, that's a rare scene in the grand scheme of things, especially in the western world, and there's obviously a tipping point where renting starts making more sense financially, and we're seeing it more and more because of the job uncertainly in the long run.
But, that's a rare scene in the grand scheme of things, especially in the western world, and there's obviously a tipping point where renting starts making more sense financially, and we're seeing it more and more because of the job uncertainly in the long run.
If you're young and haven't inherited a property from your ancestors, chances are that you're forced to rent. Personally, I've been renting for over 6 years and have been living with my girlfriend for the last 4, sharing rent and utilities. Overall, we've both spent over €25,000 together, and after spending all this money, you're practically left with nothing and may be subject to looking for a new house at any moment.
Renting is definitely not a waste of money. Just because you own a property doesn't mean you live for free. There are fees and taxes you have to pay if you are owning or if you renting. Then there is the whole topic of modernisation. In my country when you are doing repairs on your house or apartment you are required to meet new requirements for insulation. This makes even smaller projects very expensive. So in case you own an older property or there is an external damage that is uninsured it can be very costly to own. The biggest issue for me is at a younger age that you are fixed in one location. If you get a better job in a different city it might be hard to sell your house and move.
I will continue to rent until I become financial stable, and I wouldn't advise you to take a loan to purchase a house, you know why, it will destabilize you in the future, buying a house or building a house without been financial okay would not only put you in trouble, you will likely sell them in the future because that house will need maintenance like toilet facilities changes, you may need to change the roof if you live in a hot temperate region, normal use maintenance which may be difficult for you to do if you buy your house on loan, you will be only concerned to pay back the loan and at the end of the day, you will living in old house without any achievement. Think it through before you carry any loan.
If you're young and haven't inherited a property from your ancestors, chances are that you're forced to rent. Personally, I've been renting for over 6 years and have been living with my girlfriend for the last 4, sharing rent and utilities. Overall, we've both spent over €25,000 together, and after spending all this money, you're practically left with nothing and may be subject to looking for a new house at any moment.
The average rent for a one-bedroom apartment is between €300 and €400 at best; thus, I was thinking that taking a loan is as costly as paying rent per month, but after 15-20 years, you end up with a house. My main concerns are the following: First, if you're in a long-term relationship like myself, you can never be 100% sure that you'll be with that person in 20 or 30 years from now, which might prevent you from opting for a loan. Secondly, you need to be certain that the location or city of the property to be bought is convenient for future job offers and so on. Thirdly, because a loan is a many-year commitment, there's no guarantee that you'll be able to afford the monthly payment 15 years from now.
On top of that, finding the ideal house as a renter is almost impossible; there's a lack of housing, and rents are extremely expensive and unreasonable at the same time. We had a difficult time finding a house recently, and it's far from ideal. There is now a new government-funded loan program that is about to start, funding up to 75% of the loan interest-free while the rest is funded by private banks and is subject to a relatively low interest rate. This led me to think about taking a loan and purchasing an average two-bedroom apartment, but I have the concerns that I voiced earlier.
If you are going to establish long-term relationships, then definitely you are going to have kids. If you aren't already getting paid very high or if you don't have a business, then it will be very tough to afford kids or even one kid and cover mortgage loan at the same time if you and your fiancé are going to afford things alone.The average rent for a one-bedroom apartment is between €300 and €400 at best; thus, I was thinking that taking a loan is as costly as paying rent per month, but after 15-20 years, you end up with a house. My main concerns are the following: First, if you're in a long-term relationship like myself, you can never be 100% sure that you'll be with that person in 20 or 30 years from now, which might prevent you from opting for a loan. Secondly, you need to be certain that the location or city of the property to be bought is convenient for future job offers and so on. Thirdly, because a loan is a many-year commitment, there's no guarantee that you'll be able to afford the monthly payment 15 years from now.
On top of that, finding the ideal house as a renter is almost impossible; there's a lack of housing, and rents are extremely expensive and unreasonable at the same time. We had a difficult time finding a house recently, and it's far from ideal. There is now a new government-funded loan program that is about to start, funding up to 75% of the loan interest-free while the rest is funded by private banks and is subject to a relatively low interest rate. This led me to think about taking a loan and purchasing an average two-bedroom apartment, but I have the concerns that I voiced earlier.
I would say, risk it if you are getting either financial help from your parents and are sure that your and her parents will be able to support themselves a little bit you too for at least 10 years and be sure that your parents will take care of the kids. Otherwise, it will be very tough and depressive.
If you're young and haven't inherited a property from your ancestors, chances are that you're forced to rent. Personally, I've been renting for over 6 years and have been living with my girlfriend for the last 4, sharing rent and utilities. Overall, we've both spent over €25,000 together, and after spending all this money, you're practically left with nothing and may be subject to looking for a new house at any moment.
The average rent for a one-bedroom apartment is between €300 and €400 at best; thus, I was thinking that taking a loan is as costly as paying rent per month, but after 15-20 years, you end up with a house. My main concerns are the following: First, if you're in a long-term relationship like myself, you can never be 100% sure that you'll be with that person in 20 or 30 years from now, which might prevent you from opting for a loan. Secondly, you need to be certain that the location or city of the property to be bought is convenient for future job offers and so on. Thirdly, because a loan is a many-year commitment, there's no guarantee that you'll be able to afford the monthly payment 15 years from now.
On top of that, finding the ideal house as a renter is almost impossible; there's a lack of housing, and rents are extremely expensive and unreasonable at the same time. We had a difficult time finding a house recently, and it's far from ideal. There is now a new government-funded loan program that is about to start, funding up to 75% of the loan interest-free while the rest is funded by private banks and is subject to a relatively low interest rate. This led me to think about taking a loan and purchasing an average two-bedroom apartment, but I have the concerns that I voiced earlier.
The average rent for a one-bedroom apartment is between €300 and €400 at best; thus, I was thinking that taking a loan is as costly as paying rent per month, but after 15-20 years, you end up with a house. My main concerns are the following: First, if you're in a long-term relationship like myself, you can never be 100% sure that you'll be with that person in 20 or 30 years from now, which might prevent you from opting for a loan. Secondly, you need to be certain that the location or city of the property to be bought is convenient for future job offers and so on. Thirdly, because a loan is a many-year commitment, there's no guarantee that you'll be able to afford the monthly payment 15 years from now.
On top of that, finding the ideal house as a renter is almost impossible; there's a lack of housing, and rents are extremely expensive and unreasonable at the same time. We had a difficult time finding a house recently, and it's far from ideal. There is now a new government-funded loan program that is about to start, funding up to 75% of the loan interest-free while the rest is funded by private banks and is subject to a relatively low interest rate. This led me to think about taking a loan and purchasing an average two-bedroom apartment, but I have the concerns that I voiced earlier.
This can be different for anyone depending on where they live and what's their job because for example if you are living in a country where you can take a loan and buy an apartment it's much better to pay back the money you got for the loan each month than paying money for rent because if you buy this house after taking a loan you will own the house after some time and you could create an investment for yourself while the money you pay for rent will never come back to your pocket and in some countries, you will even have to pay more rent each year because of the inflation rate of that country.
I personally think renting is wasting money. I'm also currently renting and planning to buy a cheap house in the suburbs soon because house prices and the cost of renting houses in the city center keep going up and I think it would be better if I had my own house even though it's on the outskirts of town.
You will need to rent at some particular stages of life not because you wanted to but by so doing you leverage on what's been profitable in a bid towards achieving your own, but doing it for a long time is what shouldn't be encouraged because it will get over you completely without giving you that opportunity to get your own and remain independent, we need to undergo some particular stages in life to give us more experience, this is just as if you're paying for getting knowledge about a particular thing which you will no longer pay for after you have achieved your target, so it's not a waste of money of needs be.
There are some countries globally that allow you to go for long duration contracts which may go in your favor later if the guy keeps giving you his apartment for rent. This, by the grace of the government of specific countries, is counted as paid EMIs if they manage to live there for at least 12-15 years and you can claim it to be your home later which the government will not only consider but also help you gain authority of the same.
It's not as easy as you've envisioned it here because investments aren't assured and can even make you incur losses, which may turn the tables for you entirely.
In my own opinion, in terms of business calculations, the point is to rent first, the remaining money from income should not be used for repayments, but for investment. Later the results of the investment will be invested again, and doubled again so that there will be more, later the results will be able to pay for house rent again and even buy a house. But it all depends on your income, who knows your abilities, you are yourself.
It's not as easy as you've envisioned it here because investments aren't assured and can even make you incur losses, which may turn the tables for you entirely.
In my own opinion, in terms of business calculations, the point is to rent first, the remaining money from income should not be used for repayments, but for investment. Later the results of the investment will be invested again, and doubled again so that there will be more, later the results will be able to pay for house rent again and even buy a house. But it all depends on your income, who knows your abilities, you are yourself.
It all depends on our financial capability. If we can only afford to rent then so be it, just save and grind hard so you can afford to buy a property in the future. It will be better to take a single step at a time than force things out and make you suffer for a long time such as taking a loan.
In our country, there are rent-to-own properties which I think is a good option for those who are just renting. At least you can live comfortably while renting and you'll have ownership of the property after a few years.
The answer is of course not black and white. Both, renting and owning come with a lot of pros and cons.
Just a few things to consider, when renting:
- the money you would have to pay to your bank every month (which is usally more than rent) can now be used to invest in other things, such as Bitcoin
- you will be a slave to a bank-contract for 20 - 40 years unless you manage to achieve quite some financial wealth in the meantime - which is more difficult now (see my first point)
- owning property comes with a lot of stress and time investment if you rent it out to someone else; in contrast to stock bonds or crypto assets maintaining your property takes a lot of extra expenses and effort
- you are more flexible to move from a rented place without many liabilities compared to living in your own home
There are some nice benefits to owning property, too. But these are usually well-known and highlighted without the downsides, so I just gave you my idea on the latter.
Certainly, the answer is never black and white; both options always have advantages and disadvantages. However, I don't understand how the money I'd use to pay the bank can be invested since that amount of money will be spent on rent. In some cases, the monthly payment may not even exceed the average rent. Moreover, if I spend my whole life paying rent, in a few years I will have paid the equivalent of buying a house myself. Owning a property may come with stress and other issues, but you're comfortable knowing that the house is yours and you can do whatever you please.Just a few things to consider, when renting:
- the money you would have to pay to your bank every month (which is usally more than rent) can now be used to invest in other things, such as Bitcoin
- you will be a slave to a bank-contract for 20 - 40 years unless you manage to achieve quite some financial wealth in the meantime - which is more difficult now (see my first point)
- owning property comes with a lot of stress and time investment if you rent it out to someone else; in contrast to stock bonds or crypto assets maintaining your property takes a lot of extra expenses and effort
- you are more flexible to move from a rented place without many liabilities compared to living in your own home
There are some nice benefits to owning property, too. But these are usually well-known and highlighted without the downsides, so I just gave you my idea on the latter.
It all depends on our financial capability. If we can only afford to rent then so be it, just save and grind hard so you can afford to buy a property in the future. It will be better to take a single step at a time than force things out and make you suffer for a long time such as taking a loan.
In our country, there are rent-to-own properties which I think is a good option for those who are just renting. At least you can live comfortably while renting and you'll have ownership of the property after a few years.
The answer is of course not black and white. Both, renting and owning come with a lot of pros and cons.
Just a few things to consider, when renting:
- the money you would have to pay to your bank every month (which is usally more than rent) can now be used to invest in other things, such as Bitcoin
- you will be a slave to a bank-contract for 20 - 40 years unless you manage to achive quite some financial wealth in the meantime - which is more difficult now (see my first point)
- owning property comes with a lot of stress and time investment if you rent it out to someone else; in contrast to stock bonds or crypto assets mainting your property takes a lot of extra expenses and effort
- you are more flexible to move from a rented place without much liabilities compared to living in your own home
There are some nice benefits from owning property, too. But these are usually well-known and highlighted without the downsides, so I just gave you my idea on the latter.
Certainly, the answer is never black and white; both options always have advantages and disadvantages. However, I don't understand how the money I'd use to pay the bank can be invested since that amount of money will be spent on rent. In some cases, the monthly payment may not even exceed the average rent. Moreover, if I spend my whole life paying rent, in a few years I will have paid the equivalent of buying a house myself. Owning a property may come with stress and other issues, but you're comfortable knowing that the house is yours and you can do whatever you please. Just a few things to consider, when renting:
- the money you would have to pay to your bank every month (which is usally more than rent) can now be used to invest in other things, such as Bitcoin
- you will be a slave to a bank-contract for 20 - 40 years unless you manage to achive quite some financial wealth in the meantime - which is more difficult now (see my first point)
- owning property comes with a lot of stress and time investment if you rent it out to someone else; in contrast to stock bonds or crypto assets mainting your property takes a lot of extra expenses and effort
- you are more flexible to move from a rented place without much liabilities compared to living in your own home
There are some nice benefits from owning property, too. But these are usually well-known and highlighted without the downsides, so I just gave you my idea on the latter.
I keep renting a house for several years but I have no problem with that, I can still pay for the rent. But of course, to have my own house is the most thing I wanted to happen someday. But I've seen that having a house, for now, is very expensive and it really needs more money and it found hard to get it. Then I think that if I have money I use it to put up a business first instead of buying a house. Might become a stupid decision for others but this is what I see in some businessmen, they prioritize having additional sources of income before building their own house which I think was the best option.
I go with this concept, it is a good idea to me. People thinks paying money for rent is a problem. I'll rather keep paying rent than to use all the money I have with me to buy a house because me buying a house may affect my business to grow after buying a house. Getting the house and life becomes tough financially will be he'll. Instead of buying a house I will put the money in developing my business to grow then later on ,the profit I have made from my business I can decide to buy house which I know buying a house won't affect , make me go broke because I already have a stable business at hand.
If you're young and haven't inherited a property from your ancestors, chances are that you're forced to rent. Personally, I've been renting for over 6 years and have been living with my girlfriend for the last 4, sharing rent and utilities. Overall, we've both spent over €25,000 together, and after spending all this money, you're practically left with nothing and may be subject to looking for a new house at any moment.
The average rent for a one-bedroom apartment is between €300 and €400 at best; thus, I was thinking that taking a loan is as costly as paying rent per month, but after 15-20 years, you end up with a house. My main concerns are the following: First, if you're in a long-term relationship like myself, you can never be 100% sure that you'll be with that person in 20 or 30 years from now, which might prevent you from opting for a loan. Secondly, you need to be certain that the location or city of the property to be bought is convenient for future job offers and so on. Thirdly, because a loan is a many-year commitment, there's no guarantee that you'll be able to afford the monthly payment 15 years from now.
On top of that, finding the ideal house as a renter is almost impossible; there's a lack of housing, and rents are extremely expensive and unreasonable at the same time. We had a difficult time finding a house recently, and it's far from ideal. There is now a new government-funded loan program that is about to start, funding up to 75% of the loan interest-free while the rest is funded by private banks and is subject to a relatively low interest rate. This led me to think about taking a loan and purchasing an average two-bedroom apartment, but I have the concerns that I voiced earlier.
The average rent for a one-bedroom apartment is between €300 and €400 at best; thus, I was thinking that taking a loan is as costly as paying rent per month, but after 15-20 years, you end up with a house. My main concerns are the following: First, if you're in a long-term relationship like myself, you can never be 100% sure that you'll be with that person in 20 or 30 years from now, which might prevent you from opting for a loan. Secondly, you need to be certain that the location or city of the property to be bought is convenient for future job offers and so on. Thirdly, because a loan is a many-year commitment, there's no guarantee that you'll be able to afford the monthly payment 15 years from now.
On top of that, finding the ideal house as a renter is almost impossible; there's a lack of housing, and rents are extremely expensive and unreasonable at the same time. We had a difficult time finding a house recently, and it's far from ideal. There is now a new government-funded loan program that is about to start, funding up to 75% of the loan interest-free while the rest is funded by private banks and is subject to a relatively low interest rate. This led me to think about taking a loan and purchasing an average two-bedroom apartment, but I have the concerns that I voiced earlier.
The answer is of course not black and white. Both, renting and owning come with a lot of pros and cons.
Just a few things to consider, when renting:
- the money you would have to pay to your bank every month (which is usally more than rent) can now be used to invest in other things, such as Bitcoin
- you will be a slave to a bank-contract for 20 - 40 years unless you manage to achive quite some financial wealth in the meantime - which is more difficult now (see my first point)
- owning property comes with a lot of stress and time investment if you rent it out to someone else; in contrast to stock bonds or crypto assets mainting your property takes a lot of extra expenses and effort
- you are more flexible to move from a rented place without much liabilities compared to living in your own home
There are some nice benefits from owning property, too. But these are usually well-known and highlighted without the downsides, so I just gave you my idea on the latter.
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