Do you think rent is a waste of money?

[Ginger1907]

Updates

+1 y

I'm trying to look for something quick so I don't live with my parents forever

[ChrisMaster69]

Yes and no.

Some people are unable to get a mortgage, they fail mortgage checks for whatever reason.

they then have an option, live on the streets, move in with parents or rent some place.

for some they will never be able to qualify for a mortgage and have no option other than to rent.

Now if you can afford a suitable property for you and and family and qualify for a mortgage, then yes renting could be a waste, however it would be down to that individuals circumstances and reasons.

There is no blanket statement with it being a waste of money.

[jshm2]

Depends.

As a ballpark I would say you never want to be paying more rent than if you could afford the mortgage. But you also do not want to be giving half you paycheck to rent or mortgage.

Sure it may mean you need to live in a shit area for a few years. But the extra cash you save should tide you over.

Simply go online and use a mortgage calculator. Check out some random properties and it will give you an idea how much mortgages are for you, and what you need to save and put down now.

That figure will change over the months so don't take it as gospel.

[Dinklex3]

No? Lol.
Are you talking about in comparison to owning?

[Ginger1907]

Yes...

[Dinklex3]

No i do not 😊
Renting gives you a place to live and allows you to feel out the area. To see what type of home you want or where it is you want to settle down in.

[Surely]

Depends on your life style. If you travel a lot. Then renting might be the better way to go. While you are away. The property owner still needs to look after their property. Providing that they are good landlords. Also you have no upkeep. Such as mowing grass, trimming and shoveling snow. Down side is you don’t have any equality with the property.

Owning a home gives you a feeling of achievement and will give you equality in your home. But, they can be a bottomless money at times. Things like maintenance, upkeep, insurances, taxes, and outside work.
It all depends on the lifestyle that you want as to which is better!

[SaidNobodyEver]

I think anytime we have to pay for things jumans need to life it’s unethical. Food I understand because people h e to provide that and it’s only right to show gratitude through supporting their lives as well. Shelter and water? Hell no. The fact that we have to afford to live is wild to me. Do we ever think about how private companies own water production? Like think about that. Someone owns the water. It’s almost like humans need permission to live now. Rent is just them making us pay for space but the problem is everyone takes up space because we exist. It’s almost like, it’s almost like, we’re trapped in the unethical exploitations of human necessities.

[OddBeMe]

Its just strategy. Owning a home is better than chucking away rent. But owning homes comes with lots more expenses, like insurance, maintenance shit etc. So you have to plan and do research.

I got into the home owner game via condo’s. Like Michael Scott. Its a middle ground of paying toward mortg with some incentives like free maintenance.

[Drumlin2001]

Pretty much yes. Though if you move around a lot buying and selling would be very expensive. I'm moving house at the moment, paying nearly £20k in fees/costs/taxes.

[exitseven]

everyone has to live someplace. However it makes more sense to pay a mortgage. There at tax benefits and when the mortgage is paid off you own the property.

[Astarlessnightsky]

LOL, no. As shelter is one of the most basic needs, rent its the among the most important uses for money.

[EaterPeter]

It is almost equal to using credit cards. Filling someone else or company's pockets. Helping them make wealth with advantage to you only for time being.

[motownplayer2000]

It’s not feasible because renters will take advantage of rentee’s but sometime you have to do what you have to do

[Pete671]

Better for temporary living, if it gives you peace of mind it's worth it,,,

[Charliefretz329]

It’s logical in the right circumstances. Short term accommodations

[LazerBean]

Well yeah of course it is.

[serious]

No, it is not a waste of money.

[EmmaMary]

In what possible way is it wasted?

[ArtemisSilver]

No, but it is inherently exploitative.

[Sparkie460]

It's better to buy than rent

[Anonymous]

Yes, especially if your paying way too much.

[Iron_Man]

Yes of course

[PatriceONeal]

No you communist

[AFretiredTXn]

Yes. Look to buy.

[Guardian45]

NOT at all!

[eagle1951]

yes i do