Topic: Is renting an inevitable waste of money? - page 20. (Read 3202 times)

Simple solution, rent it while you're away!
You move to a different city, rent the house and with the rent, you pay the current one, it's pretty simple!

Having a house is like another investment, but it is heck of a worth of an investment in the end. I had rented before in the short term and it is almost like throwing away money just to survive and have a roof temporarily. I would just rent if my workplace was like really far from my home, but if transportation could handle it anyway, I would prioritize that first.

Me and my partner have a plan of having house first before being together. Not sure why living with parents is looked down in other countries, while in here, it is technically fine.

We have to rely on someone or leverage on things for a particular time in other for us to make some achievement while we set out goals and targets in place, this will be part of the procedures in life that will be required of us to take and trod  through in becoming whom we are meant to be, you pay for what you rented unlike when you lend them, it's never a waste of money but rather a way to conserve money when the time comes for you to acquire yours after you must have gained experience.

But you cant really make yourself staying into your own friends house for too long or even on years.Arent you that having the feeling on being shy on making yourself lived into someones house?
No matter how close you are with your bestfriend but you are living on a place that you wont really be that comfortable because you would really be keen in towards your actions because you do know
that it isnt your house.

This is why i cant really blame out other people on thriving their best on getting their own unit or houses even if its that risky to take up some loan.
Just be sure that you would be able to pay up those monthly amort for long years.

It is because of how expensive the rent is when compared to loans. This assumption is unfortunately flawed because not all of us can get a loan. You need a high paying, stable job to get a decent loan.
That said, most of us have families and I know a number of people who received help from their families when they got married and could afford their first apartment.

Yeah, having a loan just because you need it and have nothing to guarantee that you will be able to pay back is going to bite one in the ass. Imagine having that piece of land that is truly yours and you will have no landlords nagging you every day about your rent.

Staying at a friend's house is quite a little bit of a different story depending on the family situations sometimes. There would be those that do not want to burden their parents further, so they would choose to be at their friend's house instead.

Renting is a waste of money. I pay rent annually I know this for a fact. Your rent can never decrease rather the landlord will always inform you of an upward review of the rent.
And if you cannot pay of have a problem with it you are served with a quit notice. Every year you pay higher for rent.
If you have you own house, it will cost a lot of money to build or buy one, but once you do, you have peace of mind for the rest of your life.
I have concluded and agreed with the OP that renting is an inevitable waste of money.

A good question.

Renting only works if it lets you save on the side to have enough to buy a house.

Yeah, having a loan just because you need it and have nothing to guarantee that you will be able to pay back is going to bite one in the ass. Imagine having that piece of land that is truly yours and you will have no landlords nagging you every day about your rent.

Actually more and more look for the cons too, plus usually the first wage, by far is not big enough for the bank's liking.
The bank looks for stable job, hence at least 6 months there... the reality is not exactly like the newspapers depict it 

The fact that there are so many homeowners here is (also) caused by the fact that soon after the old regime was abolished, the people was able to buy the flats they were living in, and the prices were extremely low. Else the percentage would look awful, actually.

Let's assume the house you want to buy has mortgage of 600 dollars per month but the rent for same house is 400 so here is what you should do, just choose rent and think you have to pay mortgage every month which means you have 200 dollars extra and you have to keep investing the amount every month into something with decent returns and low risk as long as you can, so at the end of 10 years you may not own a house but the investment you made all those years along with the compounding effect you will have much more money than the worth of that house.

To somebody who wants to change environment every now and then, though, owning a place might not be his/her cup of tea. That's probably me. Owning a house is not worth it if you're away for weeks or a month every now and then, or if your work requires you to travel and stay in different places for longer periods of time.

~

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.

Having a house is like another investment, but it is heck of a worth of an investment in the end. I had rented before in the short term and it is almost like throwing away money just to survive and have a roof temporarily. I would just rent if my workplace was like really far from my home, but if transportation could handle it anyway, I would prioritize that first.

Me and my partner have a plan of having house first before being together. Not sure why living with parents is looked down in other countries, while in here, it is technically fine.