Topic: Own a house or rent one? Quick survey! - page 3. (Read 694 times)

That is too expensive on your part, your earning is even not enough for your basic needs and yet you are planning to do a mortgage loan for a house. I would say the best option is just to rent or live in your car if you have one.

If my salary is that low, I would just minimize my expenses in order to save, not because I want to buy a house in the future out of that saving but I would like to save for the business capital purposes, with business though risky, you will be able to realize your dream if you succeed and you can even earn that 100 USD in a daily basis.

Let us not make ourselves to stay at the rat race, we will just be a modern slave.

Taking into account the real state market is inflated all over the world and that we are in a bitcoin forum it makes more sense to rent and use the rest of the money that you could use to pay for a mortgage to invest in bitcoin, that way over the years and as the price of bitcoin increases you will be able to pay the house with your bitcoin way faster than you would do paying it with fiat, and the best part is that you will never be indebted in the process and your money will be working for you and not against you as it does with a loan.

I am a bit of a traditionalist when it comes to property... because I was taught from a young age that it is of utmost importance that you own the roof over your head. My Dad has always said, "Why make someone else rich by paying him rental, if you can use that to pay for your own roof over your head"?

The problem is that times have changed and the younger generation are faced with high unemployment and very high property prices. The Banks does not give 100% guarantees anymore, so most people have to fork out huge deposits and they simply do not have that. (They also do not have assets to put up for guarantee, so they have to take out loans to pay the deposit too)

The rental scene is very competitive and if you are clever, you can stay in some fancy house that you would never have been able to buy for yourself and you can quickly move to a new place, if the rent goes up too much. (That is to say, if you are not contractually bound in a long-term rental agreement)  

I will rather live on rent.

The reason is that I am paying 15% on my rent as opposed to 40% from my salary and that means a lot. I would struggle to maintain daily needs with 60% but if I am getting 85% it would be sufficient. If my salary was 200 or maybe then maybe my decision would have been different but given the salary is only 100 USD, I will go with the rent option.

By the way, really good survey and I am enjoying reading these comments. Everyone has their own opinion so I understand if some people would pick the other option.

Although you could practically speculate on the house by buying the house at the low price to flip it a few years later, and make a lot of profit of the pump and dump. This is what many investors did several years ago, however it’s more sophisticated than you can think of, and it’s not possible to be reproduced again today, it’s harder than you can even imagine it’s a criminal planning that is going on.

Those investors abuse the psychology of those of you who think like “need to buy house no matter what, need to marry virgin girls at all cost”, by manipulating them and shilling as if the house is the highly priced virgin girls that is very well worth it, that you can die for, you should pay an arm and a leg to get a chance to have a wonderful night with the virgin girls and your life is finally completed because you have achieved the ultimate goal of a successful guy.

Bullshit, this is the idiots that I enjoy manipulating, making them pay for my fast car fast house and fast women, and there is countless of dumbass that would still fall for my “very obvious get rich quick ponzi” that would make them remorse of their life decision.

you think you could shame married guy who married to a woman and later get 51% rate of divorce? I would shame you for married to the overpriced house and get foreclosed later, same as divorce with your house. What do you gain from your over exaggerated virgin marriage is far greater than what you gain from buying a house, at least your ex-wife can’t sue you to bankrupt, but your house and banker can make your life worse than beyond hell and bankruptcy even ended up in jail for financial crime.

Yes owning a house is a better option truly because it looks like a life savings that you have made. It may not be easy in the struggle to but at long run benecial. Having a percentage cut in salary and forfeiting some temporary pleasure can be stressful. Going for transfers from work should not be any reason not to acquire your own building because you can put it out on sale and regain your capital investment. This is the practice in my locality.

With $100 you can neither pay the rent not pay out the mortgage, so it's hard to work with these numbers. Is the remaining $60 enough to get proper food, go on a vacation in summer and buy something nice once in a while? To me, it's very important whether a normal-quality life can be sustained while paying the mortgage. It's also very important to know how many years it'll take to buy a house under these circumstances. I would normally rent under these conditions, but I do want to buy a flat eventually, and it'll probably be via mortgage because otherwise I won't be able to afford it. I would take the mortgage deal if all the conditions below are met:
1. If I lose this $100 job, I'm confident that I'll find a different $100 job within a month.
2. The mortgage payments can be paid in no longer than 5 years with the current salary.
3. Paying $40 for the mortgage, I can sustain a decent living with the rest of the money, buying good food, being able to go to a restaurant on special occasions and save up a bit for one-week low-budget vacations with a loved one.
If even one of the things above isn't possible, I'll choose to rent and aim at finding a more high-paying job before I start with the mortgage, so that those conditions can be met.
By the way, the ratio you're giving with $15 for rent and $40 for mortgage is very realistic for my third-world country. But finance-wise, I'm currently renting, and it takes around 50% of my monthly budget, so mortgage is something I can't afford right now.
Oh, and I wouldn't want to buy a house anyway, I'm only considering a flat. Having tons of space is wasteful and unnecessary even for a family.

If it's already taking up 40% of my whole income, i'd prefer to rent instead, at least until my income is higher and i'll be able to afford it without having to spend almost half of my income. If 40% is already for paying loan, then i don't think i will be able to do saving. Especially if it's going to be such a long term loan, i'm not gonna spend my life living tightly and paying loan till you know when. Not having a house sure is hard, but as long as i don't have a family yet, i think it's not an issue.

I believe there is both a merit to what saiyan says but also you are right as well. In some places the market price goes up for houses all because it is manipulated, there are usually no reason for houses to be that expensive, yet it does still become very expensive, in places like California and Toronto where houses worth so much so needlessly are all because of manipulation, not because of any valid reason, but there are places which are very very crowded and those places make sense, like Hong Kong and Japan prices are high but that makes sense because of lack of available plot to build a house.

So you guys are both right, in some places that is because of manipulation and in some places it is because there is a good amount of people with lack of buildings to live in. I would say that real estate is still a good investment no matter which one you are in.

Buying a house is an important thing, you need to have a stable financial position to own and pay for the house. Depending on your country, you may have to pay annual taxes on your home. Renting a house has the advantage that you will easily move to the place you want, such as near work.
Whether owning a home or renting a home depends on the potential of real estate values in each country. Buying a house is also an investment, you can borrow money from a bank to buy a house. You can also resell the house you bought for a profit.
If you choose to rent a house, you can save some money, but house prices increase over time, the savings become meaningless.

I will try to buy a house on loan
I often have bad experiences when renting and that doesn't motivate me to work harder

if I have a home loan then I will definitely have the enthusiasm to work harder to pay off my debt
renting a house is a complete waste of money and time

Let's assume the mortgage period is 10 years, and the loan instalment payment will be constant throughout this year since I never heard that the loan term amount increased every year due to inflation or any economic causes where as the rent is 15 USD per month but in the next 2 years it will be increased to $20 and in the next 3 years it will increase to 30-40 so in that case having a house on a loan is better as an investment because we will own the house after the loan period is completed while we will be paying the increased rent amount and maintenance fee to the owner still we never get any asset.

We also can do another thing, just take the home in loan and rent it to someone for $30 and you live in $15 house means you are actually paying $15 to the loan which is same as your rent amount.

If I live alone then I choose to buy a house with a loan. Because I will be looking for a side job to increase my income. But if I were married, my expenses would be much higher and 40% of the total income for the house would likely starve my family to death so renting and saving until there was enough money to buy a house in the countryside was cheaper for sure.

The best way is to own a house than having a rent one. Why? Simply because real estate was a good investment because as time passes by, the price of land is going higher and higher and it is a good investment because a house is really worth to establish and start a family and that house may use anytime and can be sold anytime with a double or even a triple price of the initial buy of it.

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If there's a continued increase of population then the real estate will continuously grow too because it land is also a resource that is also consumed by people. I don't necessarily agree that renting is the best because if you can find a way to own a house, I am pretty sure that you will be able to buy one but that depends though, you might want to weigh the pros and cons of both and see which one seems comfortable for you.

I had no idea of why many people insist on getting your own house no matter what’s the cost, they’re behaving like those nerds who think they must only marry to virgin no matter what, they would pay one million dollar as long as they can marry the virgin girl and get the baby, it’s by no mean is a very obvious very poor financial sense. Yes you can have your own house which is better than rent one which is what most agree, marrying to virgin girl is, yes it’s cleaner, yes it’s guarantee free of disease, yes it’s much better than marry to those left over non virgin girl prozzies, yes it’s a wall of text of all pros and no cons. Seriously there is really no point to buy house anymore when it’s more expensive than the virgin girls could offer, I know there is still bunch of extremely dumb people who would still blindly follow the hype and get the house at all cost, I enjoy manipulate this type of idiot who just couldn’t learn and they deserve to be stay poor their entire life. Very offensive comments, I know but please think wisely!

Based on the socio economic situation in my country, to own a house is what most people want and are working towards. Owning a house here, offsets the burden of annual or biannual rentage for a property which is sometimes very ridiculously high depending on the kind of life and neighbors that you want.  Rentage here is based on security, accessibility, proximity to landmarks and some other sometimes very ridiculous reasons.

Although the idea of being free to just move anytime one wishes in a rented apartment seems appealing, it is also possible to own multiple properties at different locations of your choosing to keep it interesting as well.

From my perspective, it is better to have your own real estate for life than to pay rent for the rest of your life and in the end leave nothing to your descendants. Of course, not everyone can afford to buy a house or an apartment, especially if they have a small monthly income and if their bank loans are unfavorable.

I think that people's attitude towards this issue also depends on the country they live in, because some people have a hard time deciding to leave their place of birth, while others are constantly looking for new opportunities and have no problem living in several different locations every year. Therefore, for some, owning a house is not an option at all, because I personally know some people who inherited their parents' houses and immediately sold them and still live in rented houses or apartments.

There are so many things need to consider before having a good decision about this since its really hard to decide on which is best decision for us.

But if you want to have peace of mind without worrying the monthly rent and you can afford to buy a house then do it but you should seek a house which is near to your work since if you choose a far location you are totally wasting money for gas fee if you have a car or fare if you are communiting as well the hassle to travel since the traffic is so stressful.

If you are still saving and you are still a bachelor better save your money first and rent temporarily try to used your money to create a business then if your business succeed then by that you can start to choose the best location of your home, I know its expensive to buy a house and lot near your workplace but since you already create a successful business for sure you can afford it in good times come.

It really depends on your current condition. but if I had both options, and I could buy a house, then I would. Having a house and a place to shelter can make you feel calmer, as well as clearer thinking, both in everyday life and decision making while we work. the psychological value when we have a house and only "stay" is very different

If there's a continued increase of population then the real estate will continuously grow too because it land is also a resource that is also consumed by people. I don't necessarily agree that renting is the best because if you can find a way to own a house, I am pretty sure that you will be able to buy one but that depends though, you might want to weigh the pros and cons of both and see which one seems comfortable for you.