There are plenty of places that will rent to you. Plus, there will be more houses available in the future.
Having money widens your options. If you have assets, it’s okay to buy, and it’s also fine to buy when prices drop.
⚫︎ Emotions matter too.
“There’s richness in extravagance.”
It’s okay to desire things and buy them with that understanding.
“Some say it’s not about money” and tell their children, “There’s no loss or gain! Leaving a house for your children is a parent’s duty!”
Some people say such things from time to time. It’s not necessarily to deny that, it’s okay, I think.
But it’s the person’s money, and if you buy based solely on current emotions, it might end up costing more.
Source: Liberal Arts University
Though spending all the money meant for investment might satisfy your heart, it means spending all the money intended for investment, so not many people pay in full, right?
Depending on the situation, you might end up using your living expenses or even eating the seeds meant for future ease, so it’s a waste in terms of money, right?
⚫︎ Summary
A frequent debate arises: Rent or own? It depends on the circumstances.
Why do people live in houses? Mostly to live.
Debate between homeowners and renters: Most homes end up being a liability. If you can afford a good house with asset value, buy it; otherwise, rent.
Even after paying off the loan, maintenance costs continue: Taxes and maintenance expenses.
Housing allowance from companies might cease.
Risks of owning a home:
Risks of mortgage repayment and interest rate fluctuations.
Risks of defective housing or faulty facilities.
Hurdles increase with relocation or transfers.
Inability to adapt to changes in family structure.
High probability of inheriting from parents. Won’t have trouble finding a place to live even in old age.
The sense of being fully independent by owning a home is diminishing.
What is an asset, anyway? Something that brings more monetary value in the future than when purchased.
Does land retain value because it remains? It doesn’t become zero, but ultimately, you might end up at a loss.
Can you rent a house when you’re old? There are plenty of places that will rent to you.
Emotions matter too. Understanding that there’s richness in extravagance is okay.
