Topic: Is renting an inevitable waste of money? - page 17. (Read 3192 times)

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.

Most people borrow money just for fun, they want to fulfill pleasure by buying unproductive things, if we borrow and use it for good and productive things, for example additional business capital, buying assets or something else then borrowing money is a very good thing, and we should be able to measure our ability to pay or not.

I agree, things that could make us money is the way to borrow money. For example if you got some loan, instead of buying a house, you could buy literally part of a company. There are situations where you could spend the same amount of money buying 3-4 houses instead of just one house to live in, and rent the others for example.

I know a person who bought a whole apartment building in a far off place compared to where he lived, but that had 16 houses to rent, and he is making x10 more than what he spends on rent right now. Learn what to get a loan for, make sure that getting that loan would mean more money and you should be fine, but not many people do that unfortunately.

Most people borrow money just for fun, they want to fulfill pleasure by buying unproductive things, if we borrow and use it for good and productive things, for example additional business capital, buying assets or something else then borrowing money is a very good thing, and we should be able to measure our ability to pay or not.

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.

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.

Renting a house is a bit affordable because they don't really think about other things like taxes and maintenance, but the average person renting their house is working out of town which makes it easy for them to move anytime with a fixed contract duration, however I feel the same way when working at out of town and only pay the rent every month and then don't think about other costs.

But now I have my own house in my hometown and well we have to pay a lot for everything that is needed, taxes every year, expensive maintenance, other rents are my responsibility, so the landlord has to be prepared with all of that but somehow I'm happy be in your own home without having to rent again.

Regarding the comparison of renting or owning your own house, it's really relative, how can we see the advantages and disadvantages.
But I think renting is not a waste if he can manage finances properly.

Renting has its ups and downs, but honestly I'd rather choose to buy my own house than to get stuck living in someone else's for the rest of my life. Renting is outrightly affordable compared to owning a house that's for sure, but it becomes a liability over time while a house flips you profits through appreciation. Although you are given the liberty of leaving and relocating should things not turn up well in your current residence when you rent, you can pretty much do the same thing as well with buying real estate you would live in, just with some extra steps.

Renting has its ups and downs, but honestly I'd rather choose to buy my own house than to get stuck living in someone else's for the rest of my life. Renting is outrightly affordable compared to owning a house that's for sure, but it becomes a liability over time while a house flips you profits through appreciation. Although you are given the liberty of leaving and relocating should things not turn up well in your current residence when you rent, you can pretty much do the same thing as well with buying real estate you would live in, just with some extra steps.

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.

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

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.

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.