Quote from: Ultegra134 on January 24, 2023, 05:49:08 PM

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.

I understand your concerns because I share them, especially the second one. I need to ensure my new home is not too far from work and provides a good environment for my child to grow up. It's important not to rush into buying a house. Renting first allows for flexibility to move if my job changes.

Renting isn't a waste of money because it provides flexibility that can save money in the long run by preventing hasty decisions. In my country, rent is relatively affordable, while buying a house is expensive. Even if I chose to make mortgage payments similar to my rent, I'd likely end up with a house in the outskirts of town with limited amenities and a long commute to the city center.