• suction@lemmy.world
    link
    fedilink
    arrow-up
    29
    arrow-down
    3
    ·
    8 months ago

    Most of Europe rents, even people who make 6 figures and live in big cities…there’s absolutely no stigma attached to renting, in contrary people who decided to get a 35 year mortgage for an overpriced house (which often isn’t even a single house but a semi or a house with 3 ft of land around it) to live on the outskirts among conservative simpletons are thought of as suckers… It helps though that in the EU renters have rights and landlords are extremely limited in terms of raises or contract changes.

    • sbv@sh.itjust.works
      link
      fedilink
      English
      arrow-up
      15
      ·
      8 months ago

      I’ve seen European Redditors say that European rental apartments tend to have better layouts and separation between units.

      • FireRetardant@lemmy.world
        link
        fedilink
        arrow-up
        11
        ·
        8 months ago

        Probably better sound proofed too as they were built as multi units from the start instead of being a regular house renovated into apartments.

        • sbv@sh.itjust.works
          link
          fedilink
          English
          arrow-up
          2
          arrow-down
          1
          ·
          8 months ago

          That’s what I was trying to get at with “separation”.

          There’s nothing like since pax europa chad wandering into a Canadian housing discussion.

      • doylio@lemmy.ca
        link
        fedilink
        arrow-up
        16
        arrow-down
        4
        ·
        8 months ago

        This is a bit of a fallacy. In a normal market, the rent for a home is less than the costs of home ownership (mortgage + maintenance + taxes) and that saved money can be used to purchase other assets.

        Until the real estate mania of the last few years, if you followed this strategy, you would not be any worse off than the person who bought their home.

        I personally would much rather have equity in more fungible assets than a home. Owning a home ties you to a specific location, and can’t easily be sold in an emergency. Plus it’s not a very diverse portfolio if most of you wealth is in a single property

      • suction@lemmy.world
        link
        fedilink
        arrow-up
        2
        ·
        edit-2
        8 months ago

        If you can find such an asset for a fair price, then it might be a good investment, but that’s like hitting the lottery at the end of a bubble. There’s no guarantee your asset will rise in value or even just stay the same. It also depends on one’s financial situation. I pay about 15% of my net income on rent for nice flat in a modern building from 2021. If I could have the same living standard with a mortgaged asset for the same 15% of my net monthly income, I would consider buying, but it’s impossible even if I’d put down 25% cash upfront. House prices are crazy in Europe, I heard it’s due to all kinds of shady organisations like the Russian Mafia parking and washing their money here.

      • psvrh@lemmy.ca
        link
        fedilink
        arrow-up
        8
        arrow-down
        2
        ·
        8 months ago

        90%?

        Oh my sweet summer child, rent is normally 150% of the mortgage.

          • Pyr_Pressure@lemmy.ca
            link
            fedilink
            arrow-up
            4
            arrow-down
            1
            ·
            8 months ago

            Canada at least.

            I can get a mortgage for an apartment for $1400 a month. Rent in the same spot would be at least $1800 if not $2000.

            People buy housing to rent out because it’s profitable right away, they aren’t just “taking the risk” that the house might not go up in value.