Topic: Is renting an inevitable waste of money? - page 2. (Read 2609 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.

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.

As a young striving man whom is putting every efforts to change his or her story, I don't think they should focused after lust because of their ambition. It's advisable to stay away from every unwanted relationship or friendship that would not yield any meaningful thing to their lives, and if a man is eager to make wealth they always utilizes every single opportunity that comes towards them. At this point he may decides to own a house or even freely pay his rents without much load or responsibility aside having a lover or living extravagant life.

I agree. Due to the lack of a well-established mortgage system with acceptable interest rates and long-term contracts, renting is sometimes more inexpensive than buying a home in several nations, including mine. However, in other nations, like Scotland, paying a monthly mortgage may be more affordable than paying a monthly rent in the same place, making it a viable choice. To decide whether to rent or buy a house, it is important to research the situation and deals of the country you are in as well as the security and dependability of mortgages.

And make it as a motivation to strive more and earn more money so that you and your parents would be out in poverty. I know coming from rich parents could brought to you easy life but you can't learn valuable lessons from it unlike building your own empire and inherited by your child which you will know tons of experience along the way. It is not easy but you can find the true meaning of life from that journey

Living independently from our own income makes us proud, your struggle is now producing things that family members never thought of, don't blame your parents for not giving an inheritance, they have given the best for you, especially education.

If you focused yourself on such goal and not to allow your lust to overspend your money into something that will bypass your intention to save your money for your future goal owning a house.

It will help you to grow your savings and if you are also keen in finding ways or to explore for other potential
investment that will help to increase the amount of your savings, then maybe the chance to have or to own
a house and to prevent renting is achievable.

Achieving it is the main purpose why I am serious focused and one could only do it if he limits himself from all sort of unnecessary expenses and reduce some friendship just op said earlier and it could be hard while keeping lot of load around him why because it will contribute to much distraction without one remaining focused as he is. You have to smart and remain clever on how you uses your money.

I don't think our parents must leave or provide an inheritance, it is not their responsibility. They have spent their youth raising us, for that alone we can never repay, let alone when they die they are responsible for leaving us wealth. They can build it all by themselves and take care of us, there is no reason why we can't do better than them when we are better educated and have better living conditions than them.

My parents came from a very poor background, but they raised me and gave me a good education. For me, they have fulfilled their parental duty. For the rest of my life, I will go alone without relying on them anymore. My parents had a valuable property, but I never needed it, they worked hard to get it, and I will be like them, I will build everything for myself.

This is indeed true and it would be very wrong if there were parents who did not provide education for their children when their children were young, even though sometimes the parents were only able to provide a small level of education for their children. But it will also be better because the child can have a good basis to make himself grow through the things he likes.

So there really is no reason to blame the family and parents if they are unable to provide a large inheritance for a child, even though that is also part of the responsibility of the parents themselves, but basically the child also has the responsibility to earn income independently for herself.

Living independently from our own income makes us proud, your struggle is now producing things that family members never thought of, don't blame your parents for not giving an inheritance, they have given the best for you, especially education.

Living independently from our own income makes us proud, your struggle is now producing things that family members never thought of, don't blame your parents for not giving an inheritance, they have given the best for you, especially education.

Yup, it's you now to dream and achieve whatever you desire that your parents are unable to provide, with education or with the life they provide to you is enough for you to try your best to make your dreams come true.

In terms of renting, for now, yes, it's a waste, but if given a chance, better to take advantage if opportunity
to own a house come up to you, takes everything and hopes for the best that you can in making it your asset.

Living independently from our own income makes us proud, your struggle is now producing things that family members never thought of, don't blame your parents for not giving an inheritance, they have given the best for you, especially education.

It's a very sad anyway, just as me well I couldn't inherited any house from parents (father) before he died and I have been living in a rented apartment for the past 10 years and luckily started getting my own personal house in a city close to my village. I know it's very hard to grow without one inheriting any thing from parents.
There's something you must learn, I am not against you having a girlfriend but it should be you have your feet dusted before keeping any relationship; just as I have done, I never have any relationship between age 18 to 25 year why because I know that is a challenging time for me to seat up and breakout from whatever that may holds me not getting to my destinations.
Keeping a woman around may either increase your income or decrease your income but in a way you noticed is not favorable to you then limit and a make change and raised some funds to develop yourself.

renting is not a bad/wasteful action!!

learn from my experience, if you are young and want privacy with your partner (away from parents) but want to live in the middle of a city, then renting an apartment or small house is what you have to do, while you both continue to work hard and collect money little by little until you can afford to buy your own house.

in the OP, I see a lot of things that you worry about, it's very humane!!

at least you have the courage to do that because we all know, life is a (gamble)