In a previous piece, I explored why we seemed so averse to renting and it was really interesting to see the widely differing opinions on Facebook and Instagram.
When circuit breaker came, he found himself cooped up at home with his parents. "My parents were strict and controlling and I found myself missing my independence."He spoke to colleagues who were also looking to rent. Together with his colleagues, he finally found a place to rent and moved out in early 2021.
She suggests that a useful gauge is to make sure that rental doesn't go above 20 per cent of one's income. This ensures that one is still able to have money to do other things, like save.Lishan directs $1,500 to a unit trust every month. It's an automatic deduction, reducing the friction for her to save.
"It depends on how you look at it. Some people think you're buying a house, but you may just be leasing the house from the government."has illustrated what happens when your lease is up. The government is your landlord, and a very powerful one too.Lishan's point on rent being cheaper than buying a home is one I've never considered. After all, I used to think that putting a down payment, and 'owning' a home was more secure in the long run than renting a flat.
Buying can come later in life, when you've seen the world, and are ready to settle. Renting can be a useful first step towards greater independence. Owning a home is not only about the financial responsibility, but also the logistical challenge of making a house, home.Adrian also sees renting as another expense, like eating out. "Some people prefer to spend money on eating out. I choose to rent."
The numbers below represent ballpark figures around what you can expect to spend if you cooked your own meals. Make a comparison to your current food expenditures. Do you already see the difference? "You just have to be more intentional about how you spend your money. Instead of eating at restaurants every day, make it a fortnightly thing."
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