Topic: Is renting an inevitable waste of money? - page 2. (Read 3200 times)

Agree, not everyone has a capable to buy their own land or houses and the easiest way to have a comfortable and not that heavy to their pockets is to rent a unit or house, unless they have an expected house or place to live from their parents, but if not? no choice but to rent first and at the same time save up a down payment to buy a house, because it is better to get your own land while it is still early because the value of the land increases every year.

Renting sometimes is not a waste of money because it helps. For example, when someone have an appointment in a place that's not his or her home land, maybe he's just there for some time like six months or for just a year and this person doesn't know anyone there, what do you think would happen? this person would have no other options than to rent an apartment.
But the major thing there is, it should not be done in an extravagant way. One should just go for the one that is affordable.

Renting a house on average has been experienced by every human being who has a mediocre economic income, but that doesn't mean that every money we spend every month/year is an act of waste, many people who rent a place to live are forward-thinking for their future.

By renting a house someone can think of working hard to earn their economy, they think it is impossible forever we live in a state of living in a rented place, a lot can be done for €25,000.
Example:
If you spend €25,000 in 6 years, that means you spend €347/month in 72 months=6 years.
If, you are thinking of looking for a credit house with installments of €347/month in 6 years, maybe you should do it, in my opinion, a simple type of house can already be with installments of that size, automatically within 6 years you already have your own home, if you think rent is wasteful.

I don’t think that it’s a liability.

Just because you have run out if funds to continue making your properties into a profitable properties doesn’t mean it’s a liability. It’s not gonna cause you if you just sell it. That way you can even earn some and do whatever you want with the money you just earned.

This depends on how much income you earn per month from work? What if someone whose income does not meet the standards in their country, what is your solution? Does this include wasting time in renting a place to live? It's not just your country that provides all this, every country everywhere certainly has this program for its people if the people can afford to pay it in installments. It is true that many people seem interested in the prospect of paying it in installments, but there are many pitfalls in paying dues every month. Have you ever calculated whether to buy or pay in installments beforehand? The trap is in floating flowers, many people don't know about this.

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 is really wasting money if you only rent then nothing is left on you at the end, in my country there are houses or company that has a rent to own program you will rent thier house for a couple of years and after that you will own that houses which is very good deal but expect that the price is more expensive than a normal house price, because that was also thier business they need to have a profit on it but it helps a lot specially to those who cant afford to build or buy in cash basis.

When there is economic instability in any country, buying and selling really big assets is a dilemma. At present it is a fact that big decisions like buying and selling of houses can be very profitable if they can be replaced by Cryptocurrency or Bitcoin, which will lead to a better home-buying situation later on. Although buying and selling land or house assets is very profitable in populous countries, it cannot replace Bitcoin.

For me personally, renting or renting a house is a waste.

Especially if we rent a house for a long period of time, this is clearly a waste, because no matter how long you rent the house, the house still belongs to someone else, not you.

I suggest that instead of renting a house, it is better for you to take out a mortgage.

The human population is increasing day by day, while the land area is decreasing.

But when you take out a mortgage, regardless of how long the installments are, in the end the house and building will still be yours.

well you would be right if not for property taxes.

you can have them raised so much that they are worse than rent.

Until now, my family still has a house that hasn't been sold, this proves that selling a house is actually not an easy matter, especially now that many people are really holding back their money because of the current economic uncertainty

A house is indeed a basic need, but to invest in property, I think it's not profitable now, it's still better to invest in gold or cryptocurrency

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.

House is liability and we all know that fact and lucky for me I had an inheritance which is a residential and agricultural land here in the province  which I can convert into a profitable commercial or bed space for rent just like in Airbnb but the thing is I had to find a capital first as that was a problem for me. Houses for rent in the city varies in prices depending on the floor area and strategic location. Here in my place I think with more or less $50 you can rent a livable apartment but yeah province rates really is different from city.

But to be honest I still have an unfinished house that was built some years ago and it's still in a skeletal structure as I ran out of funds though it already has beams but without roof.

For me personally, renting or renting a house is a waste. Especially if we rent a house for a long period of time, this is clearly a waste, because no matter how long you rent the house, the house still belongs to someone else, not you. And for me a house is a dead item that cannot be used to make money, except for renting a shophouse. because by renting a shophouse, apart from being used as a place to live, the place can also be used to open a business or sell, so that later it will generate profits and you will no longer be confused about the rental costs you have to pay.
but if you don't have a passion for the business world, and are more focused on the world of work. I suggest that instead of renting a house, it is better for you to take out a mortgage. The human population is increasing day by day, while the land area is decreasing. And this can allow the rental price to increase every year. which of course can increase your expenses or burden. But when you take out a mortgage, regardless of how long the installments are, in the end the house and building will still be yours. And the installments paid each month will also be relatively the same in each month until the installments are paid off.

I don’t think that it’s a liability.

Just because you have run out if funds to continue making your properties into a profitable properties doesn’t mean it’s a liability. It’s not gonna cause you if you just sell it. That way you can even earn some and do whatever you want with the money you just earned.

House is liability and we all know that fact and lucky for me I had an inheritance which is a residential and agricultural land here in the province  which I can convert into a profitable commercial or bed space for rent just like in Airbnb but the thing is I had to find a capital first as that was a problem for me. Houses for rent in the city varies in prices depending on the floor area and strategic location. Here in my place I think with more or less $50 you can rent a livable apartment but yeah province rates really is different from city.

For me personally, renting or renting a house is a waste. Especially if we rent a house for a long period of time, this is clearly a waste, because no matter how long you rent the house, the house still belongs to someone else, not you. And for me a house is a dead item that cannot be used to make money, except for renting a shophouse. because by renting a shophouse, apart from being used as a place to live, the place can also be used to open a business or sell, so that later it will generate profits and you will no longer be confused about the rental costs you have to pay.
but if you don't have a passion for the business world, and are more focused on the world of work. I suggest that instead of renting a house, it is better for you to take out a mortgage. The human population is increasing day by day, while the land area is decreasing. And this can allow the rental price to increase every year. which of course can increase your expenses or burden. But when you take out a mortgage, regardless of how long the installments are, in the end the house and building will still be yours. And the installments paid each month will also be relatively the same in each month until the installments are paid off.

Yeah, having your own home makes it easy to maintain security and watch over your properties. it also saves you cost cumulatively. If you calculate how much we pay for rent in a year and for 10 years such money can be used to buy a good apartment but the question is would the cost of buying a new apartment now and 10 years be the same? The answer is no, of course, the cost of getting an apartment a decade from now would be greater than what it costs today and I am saying, the best option now is to venture into a business that can give you money to buy an apartment and as well sustain us. This means renting an apartment should be what we should focus on so that we can accumulate enough investment and savings to grow financially.

If you're going to do it until your retirement then yes it's a waste of your money and time, not to mention that the only person that will benefit in that set up is only the landlord. That's why it's okay to at least start renting a smaller house rather than an extravagant one because that way, you have a roof over your head but at the same time, you will also have the money to be able to save up for when you want to buy a house or finance a house through a housing loan.