Topic: Is renting an inevitable waste of money? - page 15. (Read 3202 times)

Renting has its disadvantages - at any time the fee can be increased, there is no stability (there can always be a need to move out urgently), problems with repairs. so it is necessary to have your own housing in any condition and of any size (at least a room in an apartment). However, renting is not a waste of money - it gives a certain freedom of movement. And it's a basic option if you can't save for your own flat

Life is full of risk, but if you have a stable income that can pay off a long-term loan, I must say that a loan for the acquisition of a house is worth taking because all this rent is just temporary, and after some time the owner can just chase you out of the house and you will be left with nothing, it's better to be a house owner and pay back the loan instalmentally than living in a rented apartment. The sweet thing here is that you are in a country that will give you a loan up to the amount that will make buying a house worthwhile. If I have this opportunity here, I will grab it with both hands. 

I cant really believe that there are couples who had decided to take up some loan even if they arent that married and on the time that they would be having a break up then the ones who had signed those papers is

the one would be sued out or be asked out for those mortgages which is bullshit for someone to agreed upon.If you are really that legally married then it would really be that understandable that you both
do have rights about your priorities or something that do talks about conjugal property which is really that very common.

Renting isnt a waste of money specially if you dont have still the money for you to have your own house.There's no other options left when you are not financially ready.

I do agree if the commitment is surely but, to make it sure then they have to get married. That's the only way to assure that their relationship should be assured and that's the time that they should buy a house and pay for its mortgage.

I've seen couples that have decided to take house loan but they're not yet tied to each other. In the end, many have become problematic and they didn't anticipated that they'll be ending with a break up.

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.

In the short term, renting is generally good and convenient but OP's dilemma lies in whether to buy a house considering all the factors/risks that may happen in the future. I wouldn't worry about all the possible factors coming from the external environment but would review the relationship seriously. If OP is 100% confident in the commitment with his girlfriend and would not fear that the relationship may break, why not buy a house ? Otherwise, any breakup or divorce in the future would severely ruin everything and drag OP into a mess that he may never come out of. I guess this is the focal point to really think about.

Life is full of risk, but if you have a stable income that can pay off a long-term loan, I must say that a loan for the acquisition of a house is worth taking because all this rent is just temporary, and after some time the owner can just chase you out of the house and you will be left with nothing, it's better to be a house owner and pay back the loan instalmentally than living in a rented apartment. The sweet thing here is that you are in a country that will give you a loan up to the amount that will make buying a house worthwhile. If I have this opportunity here, I will grab it with both hands. 

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.

Where do you live if the case of renting a house will not be much different from conditions abroad. I mean, it's all based on income, land ownership, housing and if there's nothing to support it, there's one option, which is renting. It doesn't matter if it's long term or short term because housing is a must.
In addition, related to the cost of rent that differentiates their place of residence, because talking about various incomes, most of them will rent a house that is closest to their place of work.

The location is one of the major factors for one to look at the rent or taking a loan for building their homes.

I've got friends that have settled in rural areas where lands aren't expensive and they can just work remotely which is the benefits that they've got from the company.

As we all know, working from home now is the setup that majority likes and favorable although not all really likes that setup.

So, renting is good for short term so that you can move anytime you want.

A rent to own or a loan that will give you a house right after you paid it, is a good decision. Renting a house forever will cost you a lot, and it is only for temporary. The disadvantage of it is that not every single time is you have money, and once you didn't pay the rent, you're living in the street and you don't want that to happen. Saving is also another option, then buy a house and lot.

The correct answer depends on the country you are in. If the city is expensive, like New-York for example, renting is your only solution to live there. For example in my city the amount people pay for 2 bedroom rent + utility bills equals paying out loan for same 2 bedroom flat. Financially having a rent flat isnt profitable, but you will have to stick to one place for 15-20 years if you take a loan, when youth dream is to move to other country, and elder generation does not feel stability in keeping work.

The correct answer depends on the country you are in. If the city is expensive, like New-York for example, renting is your only solution to live there. For example in my city the amount people pay for 2 bedroom rent + utility bills equals paying out loan for same 2 bedroom flat. Financially having a rent flat isnt profitable, but you will have to stick to one place for 15-20 years if you take a loan, when youth dream is to move to other country, and elder generation does not feel stability in keeping work.

A rent to own or a loan that will give you a house right after you paid it, is a good decision. Renting a house forever will cost you a lot, and it is only for temporary. The disadvantage of it is that not every single time is you have money, and once you didn't pay the rent, you're living in the street and you don't want that to happen. Saving is also another option, then buy a house and lot.