Topic: Is renting an inevitable waste of money? - page 8. (Read 3202 times)

I've been through what you've been through. It can be said that renting a house when going to the city to start a business is the only option, we don't have a choice, let alone whether it's a good or bad solution, and I don't consider it a waste. For a worker in a third world country, it is impossible to accumulate money to buy a house unless we have other sources of income, so it can be said that renting is mandatory.

I am fortunate to have only left my hometown for 3 years to start a business, but many of my friends have not been able to return to their hometown and have had to rent houses for 10 years. Many say that if they don't rent, they can buy a house with that money in 10 years. But I want to ask that in those 10 years, if they don't rent a house, where will their family live?

you do not understand / can feel how the condition of a small person like me. In the village, I do whatever work so that my family can eat everyday. In the village, getting a job in a company is very, very difficult with the current conditions. Incidentally a relative / friend asked me to work in the city, with a salary less than the city standard. With my condition far from my family and in order to change the family's economy, I am willing to rent a residence where I live which is not far from the company I work for. Indeed, in renting a house we have to take care of it. There is no other way for me, I don't agree with renting something that is a waste.

In times like this, both renting and acquiring a mortgage loan is a waste of money. In the past, the wiser move would have been acquiring a mortgage over renting, as you are paying off an asset....but now, during a time where we are potentially entering a long-term economic crisis, interest rates are likely to continue to sky rocket and getting a mortgage could be a one-way ticket to the demise of your wealth. Renting might be the next best option. I believe buying a mobile home outright, home sharing by rent or by group-purchasing a home are the best options in this economic climate.

Only those that have been or are in your shoes can really relate to he reality of what you OP is facing now and it's really hard to tell where the next best decision lies. Some people are so fortunate to have ancestors that left them a great property like a house and they end up throwing that away by gambling it away for obvious irresponsible and reckless behaviors.
Renting does renders ones efforts to be rendered fruitless cause it's all like all your hustling for is to just fix another's pocket at the end of the money or year by paying off your rent. It's a hard situation actually.

The habit of renting money is a bad thing that must be abandoned immediately, renting money is a waste of time and wasteful because we have to pay interest, this is what makes us have to think and immediately take productive actions, for example looking for other income alternatives.

In times like this, both renting and acquiring a mortgage loan is a waste of money. In the past, the wiser move would have been acquiring a mortgage over renting, as you are paying off an asset....but now, during a time where we are potentially entering a long-term economic crisis, interest rates are likely to continue to sky rocket and getting a mortgage could be a one-way ticket to the demise of your wealth. Renting might be the next best option. I believe buying a mobile home outright, home sharing by rent or by group-purchasing a home are the best options in this economic climate.

Renting is definitely not a waste of money. For me, it's apart of good planning. Usually people who choose to be independent start in renting a place temporarily then buy their own upon having enough savings. Also, there some people I know who don't prioritize having their own job and maintains renting an apartment because it 's more convenient for them.

I wholeheartedly agree and respect your opinion on renting a place that’s much closer to your place of work than having to commute from your village.
Understandably, getting a job in the village with an organization that’s located in the city would be very difficult as most employers would want their employees within reach at most times.

Fortunately for you, you’ve landed a job in the city. While it pays less than city standards, it definitely wouldn’t be the same rate you get for jobs back in the village. If it isn’t, you would not be so willing on renting.
Perhaps you might consider having a roommate. That could help reduce costs and improve on your savings.

I wholeheartedly agree and respect your opinion on renting a place that’s much closer to your place of work than having to commute from your village.
Understandably, getting a job in the village with an organization that’s located in the city would be very difficult as most employers would want their employees within reach at most times.

Fortunately for you, you’ve landed a job in the city. While it pays less than city standards, it definitely wouldn’t be the same rate you get for jobs back in the village. If it isn’t, you would not be so willing on renting.
Perhaps you might consider having a roommate. That could help reduce costs and improve on your savings.

you do not understand / can feel how the condition of a small person like me. In the village, I do whatever work so that my family can eat everyday. In the village, getting a job in a company is very, very difficult with the current conditions. Incidentally a relative / friend asked me to work in the city, with a salary less than the city standard. With my condition far from my family and in order to change the family's economy, I am willing to rent a residence where I live which is not far from the company I work for. Indeed, in renting a house we have to take care of it. There is no other way for me, I don't agree with renting something that is a waste.

you do not understand / can feel how the condition of a small person like me. In the village, I do whatever work so that my family can eat everyday. In the village, getting a job in a company is very, very difficult with the current conditions. Incidentally a relative / friend asked me to work in the city, with a salary less than the city standard. With my condition far from my family and in order to change the family's economy, I am willing to rent a residence where I live which is not far from the company I work for. Indeed, in renting a house we have to take care of it. There is no other way for me, I don't agree with renting something that is a waste.

well of course if we are in a financial condition that can only afford to rent a place to live then it will indeed be a waste that we cannot avoid. but we can minimize this waste by looking for a house that can be rented at a lower price. can be done by renting a place to live a little far from the city. because the cost of rent in urban areas is much higher than in suburban areas. but at least we also have to adjust it to the distance that doesn't make it difficult for us to get to work. but if the person works at home like a freelancer. then I think wherever is fine.

Further savings steps can be taken in managing the cost of everyday life to be more effective. such as avoiding unnecessary expenses. so that we can still save and invest to buy a house in the future. because renting a place to live for too long will only make us trapped in a financial condition that is not progressing. so if we are forced to rent, then we have to be more economical in our daily lives so that we can save and invest to buy a house someday.

you do not understand / can feel how the condition of a small person like me. In the village, I do whatever work so that my family can eat everyday. In the village, getting a job in a company is very, very difficult with the current conditions. Incidentally a relative / friend asked me to work in the city, with a salary less than the city standard. With my condition far from my family and in order to change the family's economy, I am willing to rent a residence where I live which is not far from the company I work for. Indeed, in renting a house we have to take care of it. There is no other way for me, I don't agree with renting something that is a waste.

Renting, in my opinion cannot be said to be the best solution for workers that live in the rural areas and come over to the city for work as some would find it more affordable and cheaper to commute from their homes in the rural areas to work in the city. A lot of people do this instead of going through the hassle of renting a place in the city that the rent alone would probably eat deep into your little income.

Also, I don’t think renting is as light on the tenant as you make it out to be. The landlord obviously has some obligations to keep the house convenient for living so does the tenant is responsible to keep the house as it was met. Also, the light, water bills are on you as the landlord would obviously not pay for the utilities of a tenant.
Renting isn’t the best solution as I think there is actually no best solution. People are just inclined to do whatever works for them.

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.