Topic: Is renting an inevitable waste of money? - page 7. (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.

Renting is the best solution for workers from villages to cities, because they don't have enough money to buy it, and in my country to have a standard house, which the government provides through private companies, must have standard criteria, such as their salary in a city company , for $450 and must also be a permanent employee of the company. In addition, renting is lighter and with less financial responsibility and maintenance costs, as this is usually the responsibility of the landlord.

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 a house to live in to run a business is not in vain as long as it has a really clear function. But if you are able to buy a house in a very strategic place where that location is always filled with lots of people it is also very good because apart from being able to use it yourself it can also be rented out to other people who need it if someone has an old house that is still suitable for habitation.

So it's true as you said that in terms of housing it will never be redundant even if you don't use it yourself after you buy it, because it can still be used by other people in the form of a rental so I think these two solutions are equally good for young businessmen who are developing business at this moment.

You've been with this very girl for over four good years and you guys have been loving together and even share utility bills and you guys are still also in a very serious relationship?
Mehhh I don't know what country you are but if is in my country, then I'm wifying her and I don't care what people have to say. But in the other hand, character also matters alot and from the tune at which I read this post, it seems there is something OP isn't ok with like character or something and since you guys aren't married yet, it isn't late yet to address this issue as truly communication matters alot in every relationship.
On the other hand, I barely would advise someone to take a loan in buying a house because I don't see reasons to do so but since the loan is an interest free one, then you shouldn't hesitate to get one if it can cover the cost of getting the two bedroom apartment you desire.

It is not necessarily a waste as long as it brings benefits and convenience to your work and life. Nowadays, owning a house is extremely difficult for young people, so renting is a good solution when starting a business because we may have to move a lot to get a better job. That is not wasted.

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.

Yes, renting is a way the young entrepreneurs to start their businesses if they do not have enough funds at the start of their business journey. Getting rented houses or sometimes rented machinery may be extremely helpful.

Also, if you have a lot of extra resources, like land, plot, and shop you may put them on rent and can generate passive income. So it is a win-win situation for both of you, the one who receives rent and the one who acquires the object and pays the rent on it.

I believe that if you have extra resources and you do not lend them, then you are missing out on an opportunity to make extra income.

It is not necessarily a waste as long as it brings benefits and convenience to your work and life. Nowadays, owning a house is extremely difficult for young people, so renting is a good solution when starting a business because we may have to move a lot to get a better job. That is not wasted.

This is one of the most discussed topics of the last years. It actually depends on the economic situation in the country. Sometimes rents are low relative to inflation and salaries. Sometimes the house prices are so high that it's unreasonable to put all the money to a house. The situation is different in developed countries naturally, but in countries with fragile economies the situation may change depending on the conjuncture.
I agree that it's important to own a house, but if house prices and loan rates are very high you can live in rent instead of making such a long-term investment.

Renting money is an ugly thing that we have to leave behind, it's impossible for us to rely too much on renting money, it's better to live simply and according to ability, the temptation to live a luxurious lifestyle does make anyone try to follow people who like to show off on social media, but we must understand that not all the things that other people do we can do.

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.