Why I Rent An Apartment Over Buying 🏢 | DTUBE QUICKIE
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Here are some of the reasons I prefer renting an apartment over buying.
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I was lucky and bought a house on an economic downswing here, so I can up and leave whenever with my equity! #HumbleBrag
Though I am not a very adventurous person and probably won't move for a while...at least not anywhere exciting! I have never had Wanderlust, but I really love watching travel vlogs and people who live in different countries!
Nice one, Beth! I like getting away for a little bit, though apartment life is pretty sweet.
Property can be a good investment, but it can also be a trap. Renting can be very sensible, and I say this as a property owner. Maintaining property can be very costly. Having a new bathroom or kitchen installed can cost thousands in any currency. I "own" three properties (I have mortgages on two, so I don't really own them - the building society does). I will probably sell one of them soon for a fairly good "profit" - though I'm not sure how much of a profit it will really be when you consider all the money I've poured into it over the years. The other one is a flat in a city centre and is very well-constructed, so I haven't had to spend too much on it. I think that one is a very good investment.
The third one is a shop that I bought using my private pension as an investment (I haven't retired, but it's a self-invested pension scheme). I was able to buy it outright. So my tip is, invest in a good pension plan and/or hodl some cryptocurrency - put it away and forget about it. You'll be surprised how quickly the years fly by - and sooner or later you'll be able to buy a property(ies) outright :)
That's crazy and you have a lot of investments haha. Thanks for your awesome insights
Yeah I'm broke now, but maybe I'll be wealthy in my old age lol!
I agree that sometimes it can be a trap, but not always is the property that is the trap, but the tenants. Laws protect the people that are living in your house or appartment so some times even with a contract if they stop paying the rent, to recover your property is going to be a long and expensive trap. So always choose carefully who are you going to rent to.
That's true, and so far I've been very lucky with my tenants - they've all stayed a long time and have paid the rent on time. That's partly because I don't overcharge and I look after my flat, so that attracts nice people. And I'm careful about who I rent to.
So basically you have commitment issues :)
Basically. That and I want to Return to Europe someday :)
To be fair, unless you're a true land LORD (In the British Old Money sense), then you never truly "own" your house. You're still renting it from them, because it's on their land.
that's deep. you must think about this a lot, haha
Your Thought is Amazing .
it's a hot night indeed
Owning becomes an expensive nightmare unless you plan to stay forever and pass it on after death. I am with you, renting is for me.
Go us!
Fellow renter here! A lot of people ask me why as well. And of course, when you own a house, the money you pay into it remains your money per se. Where as renting is giving it to someone else.
But with the location independence, I totally get where you’re coming from, it’s nice to have a change sometimes and not feel stuck.
I plan to buy eventually, as a way to have equity for the future, but for now, not having a gigantic looming life debt is a nice freedom.
haha, rent buddies! Keep smashing it, Tim
Buying a property is always a good idea if you plan to get capital gains for it or if you are going to rent it. Some times the mortgage payments are lower than what you can get in renting it, so the property pays for itself. Al least in some parts of Mexico we have it that way. Also if you like to travel, you can buy a near beach property and rent it with Airbnb that way even if you are "Tied" to a property you have some liquidity to go somewhere else.
Other good options are thinking in other currencies... you live in Australia, your dollars are quite valuable in other countries (Mexico for instance) so you can have a really nice property for what you pay en 3 years over there. Tell me if you wouldn't love living or having a property in a place like this.
But as always you can also go for a few weeks and rent it in Airbnb ;-)
Is this your view from your home? :O
No... It is going to be one by the "lake" (proper name is Cenote, that is a natural spring water formation) and 5 min walking time to the beach.
Upfront price in American dollars $180,000.00 - average rent in Airbnb $150.00 dlls per night, low season - high season is up to $400.00 dlls a night. (2 bedroom for 6 people)
This is an important post thanks for sharing
No worries, thanks for commenting
Home is, where the wi-fi connects automatically :)
Peace.