Topic: Is renting an inevitable waste of money? - page 18. (Read 3192 times)

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.

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 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.

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.

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.

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.

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.

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.

but I give this opinion based on smooth economic conditions and no obstacles.

The point is to first measure the financial ability that you have today.

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.

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.