Topic: Is renting an inevitable waste of money? - page 4. (Read 2609 times)

Yeah if you have enough salary then you can go on it and take your loan, it's better to pay for something that you'll going to expect to be your own property unlike with renting where you will be paying non-stop.

You will continue paying as long as you need the place, but it will never be considered as your own properties,
where the big advantage when you own your house, you can consider it as good collateral when you need to
take loan for possible investment.

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.

Currently there are many services and conveniences for rating money, only with an identity card capital so we can get a loan without collateral with a repayment period of up to 2 years, and of course, easy loans have risks, namely very high interest of up to 100% in a year.

a good idea actually it's better to buy your own house or build your own house than having to rent for a long time, continuing to rent is very wasteful in my opinion.
But the big problem with building a house and buying a house is having to have cash, and most people don't have it unless they save or plan ahead.
but if you are someone who has a monthly income then you better take a big loan from a bank to build your house, and you can pay it every month

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.

The main argument for renting vs buying a house or apartment is that you don't lock yourself down in one place. In my country it has become quite common for people to change their job frequently, a good friend of mine for example lived in 3 different countries over the last 8 years. Owning an apartment in such a case would make it much more difficult to switch cities and accepting a new job. Renting instead of owning gives us a lot of flexibility and also is less cost that we need to pay each month. When buying an apartment or house it involves usually 80% of borrowed money which can take a very long time to pay back. Especially now in times of inflation rates of 10% the borrowing cost can increase quite a lot down the road. It can take 30 years to pay off one house and is going to put a lot of constraints on us.

Renting money is currently a fast solution for everyone, this makes a consumptive and wasteful mindset, it's time for us to think about doing creative things and be able to make money, not just relying on renting money.

Of course, there is nothing more comfortable than being in your own home. But nowadays, owning a home is not easy. In my country, for an office worker to be able to save up to buy a house, it takes at least 5 to 10 years, and this will be even further for workers. It can be said that real estate is a luxury for many people, so many people tend to rent houses because, in life, we also have hundreds of other bills to pay, not only saving money to get a house.

The most common reason why people choose to rent is because they do not have the ability to buy and build their own residence, so the most ideal option is to rent. In the country where I live, there has been a subsidized housing program from the government in collaboration with the Bank and this has been going on for almost 10 years or so.

The only worry when you try to take this opportunity is not having a backup plan to cover the monthly expenses when they are due, which is why loans in this form will not look friendly to people who do not have stable financial capabilities. I believe there are consequences when a monthly fee is due you can't pay, especially if it goes on for nearly 15 years. We never know how our lives will be 10 years from now, if financial ability only refers to this income, not to mention when we have bad luck and are fired from work.

I try to summarize the experience that I did ?

• Still living in a rented house or parents' house, but trying to increase the amount of savings and investing. I choose bitcoin for long term investment because it is reliable in keeping value.

• Make a target timeframe for building your own house, even though you have to start with a simple way.

• Calculation of investment in bitcoins regularly and continue to collect until the target is reached.

• If the target goes according to our expectations, then building or buying will be much more profitable than taking loan opportunities or repaying for the duration that you convey to buy a house.

We have to limit the time to rent a house because after calculating all the costs of renting a house for years it has reached the price of almost a simple house, we have to have a target of living in a rented house for no more than 3 years and work harder to save to buy a house, so you have to work extra to increase your savings and do any business according to your basics to get a high income.

financial stability is very important, and you need to make responsible decisions to ensure long-term family well-being.

We have to limit the time to rent a house because after calculating all the costs of renting a house for years it has reached the price of almost a simple house, we have to have a target of living in a rented house for no more than 3 years and work harder to save to buy a house, so you have to work extra to increase your savings and do any business according to your basics to get a high income.

We have to limit the time to rent a house because after calculating all the costs of renting a house for years it has reached the price of almost a simple house, we have to have a target of living in a rented house for no more than 3 years and work harder to save to buy a house, so you have to work extra to increase your savings and do any business according to your basics to get a high income.