Quote from: btc78 on May 27, 2024, 05:11:51 AM

Quote from: 0t3p0t on May 26, 2024, 05:49:47 PM

House is liability and we all know that fact and lucky for me I had an inheritance which is a residential and agricultural land here in the province which I can convert into a profitable commercial or bed space for rent just like in Airbnb but the thing is I had to find a capital first as that was a problem for me. Houses for rent in the city varies in prices depending on the floor area and strategic location. Here in my place I think with more or less $50 you can rent a livable apartment but yeah province rates really is different from city.

I don’t think that it’s a liability.

Just because you have run out if funds to continue making your properties into a profitable properties doesn’t mean it’s a liability. It’s not gonna cause you if you just sell it. That way you can even earn some and do whatever you want with the money you just earned.

if the property resides in strategic land, it got capital gain over the course of years, land doesn't multiply itself I think so too that calling a piece of property liability isn't really true unless the capital gain didn't surpass the tax they pay every year.
there are many ways to take advantage of the property and using it for productive purpose I think is easy its just matter of how we utilize the property itself added with the capital gain its among the best stable investment not so much yield generated but good enough just to secure our finance to not make our money get devoured by the inflation.

Quote from: Gaza13 on June 02, 2024, 02:50:56 PM

Quote from: rhodelmabanal on April 19, 2023, 04:11:35 AM

Renting is really wasting money if you only rent then nothing is left on you at the end, in my country there are houses or company that has a rent to own program you will rent thier house for a couple of years and after that you will own that houses which is very good deal but expect that the price is more expensive than a normal house price, because that was also thier business they need to have a profit on it but it helps a lot specially to those who cant afford to build or buy in cash basis.

This depends on how much income you earn per month from work? What if someone whose income does not meet the standards in their country, what is your solution? Does this include wasting time in renting a place to live? It's not just your country that provides all this, every country everywhere certainly has this program for its people if the people can afford to pay it in installments. It is true that many people seem interested in the prospect of paying it in installments, but there are many pitfalls in paying dues every month. Have you ever calculated whether to buy or pay in installments beforehand? The trap is in floating flowers, many people don't know about this.

thats why its essential to secure your finance first before getting a mortgage.
its all about financial management you know if your morgage only eats up 20% or lower of your salary you most likely will be fine the interest won't do so much to affect your capability to pay the mortgage.
it only becomes problematic if you have too much bills you need to pay including monthly credit cards bills it eats up your entire salary and you still force yourself to take a home mortgage.