One of the fundamental needs of human beings is to have a place to live in, where you can feel safe, comfortable and simply happy. Those who are especially affected by this problem are young people who are just about to define their housing needs and choose a right solution that meets these demands. Although there are only a few basic options, the thing is not that simple as it seems.
One of the options is renting a flat. Renting is so common in many countries, as it gives the immediate ability to start independent life at relatively low cost. It is not necessary to have significant savings in order to rent a flat, all you need is a permanent and stable source of income. This solution could be also good for those who travel a lot, e.g. members of certain professions who often change their places of living. In such a case there is little point in buying a flat. Yet another group of people is just not attached to the place of residence, they frequently change the flat they rent, despite the fact they could even afford to buy one.
However, in reality, it’s usually challenging to find an apartment that is both affordable and not substandard. Another potential risk is a lack of privacy and possible conflicts with flatmates when you share a flat with other people. |
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The main disadvantage of purchasing a flat is that in most cases it implies the necessity of taking out a mortgage loan. People are often afraid of taking such risk. Moreover, you must still provide your own financial contribution as well as be deemed creditworthy.
Alternatively, you can buy an apartment when you save enough money, but it would typically take a lot of time. Things would get even worse when you must rent an apartment during this time, what significantly reduces monthly savings.
In spite of these difficulties, owning an apartment offers numerous advantages. As the owner of real estate you have the freedom to manage your property. Not only are you able to arrange and furnish it as you like, but you can also share it with flatmates you trust or even rent the entire dwelling if you own another one. It’s a good way to invest and get an extra income.
Another alternative, which is a variation of the previous one, is a purchase of detached or semi-detached house. At the same time, it is usually the most expensive solution. However, for many people the higher price is worth paying. If you want to have a yard, more privacy, more space, more comfort and more domestic tasks, this might be the right choice for you.
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Unfortunately, there is a variety of additional, external factors affecting the final decision. Culture, history and mentality of the inhabitants, size of the locality, urban density, housing stock, the situation on the labour market or overall economic conditions in the country are some good examples of these. Below you can find some of the interesting EU statistics on housing, country-by-country:
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Distribution of population by dwelling type, 2015 (% of population)
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Distribution of population by tenure status, 2015 (% of population)
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If you are interested in more or want better image quality, the most recent data can be found on the website:
http://ec.europa.eu/eurostat/statistics-explained/index.php/Housing_statistics
http://ec.europa.eu/eurostat/statistics-explained/index.php/Housing_statistics
Questions:
- Do you prefer to rent or to buy a property?
- Would you be afraid of taking out a dwelling loan?
- If you had a sufficient budget to purchase a house or an apartment, which one would you choose and why?
- Do you prefer to live alone or share a flat with others?
Feel free to share your opinions and thoughts on this subject.
Comments
House sounds like better idea than flat, but houses inside city are quite expensive, so i would start with flat, and after few years would sell it and buy house. I prefer livin alone, as I like my environment clean, and while living with others responsibility for cleaning the house tends to blur among flatmates.
I think it is better to live with somebody than alone. It's sad when you can't talk to anybody. I have lived with my grilfriend and dog for 5 years and I can't imagine living alone.
In the future, I want to buy my own home, where I can live with my family and of course, I'm considering a purchase live in apartment, but still, I'm dreaming about house, and already working to achieve this goal.
Regarding your dreams about owning a house, I really understand you as I prefer it over living in flat too.
If I were to chose I would prefer to buy a property. In my opinion it gives a freedom of changes. I can buy furniture I liked, paint walls in my favorite colors and no one is going to control what am I doing.
Of course I would be afraid of loan. Personally I hate borrowing money and I hope I will never have to do it.
It's a very hard question what I'd chose. I think that I'd rather buy an apartment. Maybe because that I'm living in a huge house through all my live. Secondly I'd chose an apartment because I'd like to live in a bigger city.
It's hard to say if I prefer living alone or share room with someone. All my life I'm living with my parents who are very often away from home so it's like I'm living alone. And I would prefer to live alone than with some strangers. I don't trust people and they are very often annoying.
I've experienced both living alone and sharing my flat with various people (my parents, friends, sister, girlfriend) and it is still hard to recommend the best option. Each of them has its pros and cons.
I beg to differ with you on the subject of living alone. If you would like to know why, please, look at my reply to Jacek's comment.
I think owning is a better choice for many but not all people. Houses however increase in value slower than money invested in the stock market. If you buy a house always buy less house than you can afford and go for as short a mortgage as you can or pay ahead on the mortgage.
I agree, that sometimes I want to be alone, but then I can go to another room. And when I want to talk to someone I can go there and it will take me 30s. And if you live alone you have call someone and they may be in 30mins.
For me living with someone is motivating and just nice. I've lived only with people, who are important for me and maybe that's why.
Of course, living with someone have got many cons - specially, when they are muddlers, but still. I can talk to my dogs, but they don't want to reply ;)
Just like you wrote in the presentation, buying a flat is better in long terms, because always you can rent it for somebody else. That can bring you another additional income. And this is what I would do, although I travel a lot. I'm actually looking for some apartment to buy in Warsaw, but my friends advise me to rent some place first and see exactly my needs, to make better choice for buying property. Maybe that is not that bad idea, but on the other hand it is like throwing out your money. It is like, you pay the money every month for using an apartment, but you stop paying and you have to leave having nothing. In case of buying you still pay money but after some time this property becomes your own. For start I would like to live alone actually, but I think after some time I will need somebody to talk to...Living alone for longer time must be sad and somewhat empty.
For some reason there is a lot of people who are thinking that leaving in a flat alone leads to the path of loneliness. But it's hard to resist from that good feeling of being independent of anyone...
I live with my girlfriend and I don't think I would like to live with some other roommates, I could feel annoyed with some strangers.
I don't claim any of these is better than the other, both of them are double-edged swords. The final decision simply depends on one's preferences.
http://sf.curbed.com/2017/2/22/14700442/san-francisco-rents-highest-world-price
San Francisco is extremely interesting city in terms of housing. For example, it has a huge homeless problem, even among full-time workers.
I strongly encourage you to read the following articles:
http://www.reuters.com/article/us-san-francisco-tech-images-idUSKBN16H2EE
http://www.sfchronicle.com/business/article/Tech-bus-drivers-forced-to-live-in-cars-to-make-6517928.php
As I said I would be afraid of dwelling loan and I hope I won't take it in the future.
If I have unlimited budged I would prefer to buy a house in a small village near lake. I would live there with my family. Away from noice of a big city.
I prefer to share flat with other people, because I like to have someone to talk to. I hate being alone.
I agree that a flat represents some kind of financial security, especially if you own more than one. When things get really bad, you can just sell your property and use the money as you wish.
On the other hand, if you're not entirely sure if the house you're about to get will be the house you'll happily live for a good dozen of years, then it'd probably be better to rent it, simply because you can always change your mind and move, or negotiate buying, instead of being left with potential extra work regarding selling the house if you change your mind after buying it.
If you ask me, I always lived in a flat and I really like it, mainly because the amount of maintenance tasks decrease significantly when you share things like electricity, water, internet and likewise with others, so if something breaks I usually don't need to do anything, because people are being informed right away.
On the other hand though, I've always dreamt of living in a true detached house with my family - perhaps my dream will come true eventually, it's all about money :).
Thanks for interesting article.
I would prefer not to take the credit , if not 100% sure (income).
I guess I would pick the house I like is the idea of process automation (smart home) and I think a greater chance to fully realize this vision will be lived exactly if you have a house, as well when you have your home it is likely that you have a garden , what could be better than your own garden ?
Renting a flaga for a long time doesn't make sense for me - you're wasting your money on sth that does not belong to you, insteed of collenting them for your future apartment. If you take credit, of course you have to pay interest on it, yet at least you pay off your debt, not the owner of the flat.
I'm a type of person who appreciate houses, even if there is a lot of house work and work in a garden, I'm totally used to it and can't image life without that for long.
House or apartment? It depends. In my dreams I see myself in the house, but if I have a work and all my life in the middle of the busy city, I would buy an apartment. But in the perfect circumstances, it would be a house somewhere near the sea :)
I prefer not to share a flat with anyone who isn't my family.
if anyone can afford a mortgage, should take it and buy an apartment.
If I have a sufficient budget I really don't know what I would buy. I would like to live closer to city center, so it's easier to achieve by buying an apartment but I know many people living in blocks of flats and neighbors can be so annoying and that's a situation which can be resolved by buying a house. Having a house have one really big advantage, it can be much bigger with less cost than an apartment. I don't have any preferences I could live alone or with someone. If I want to talk with someone I could do it through skype or just go to meet with them.
I’d just feel much more comfortable living in a house that I know is truly mine.
2. I’d probably be afraid of taking out a dwelling loan, I can only imagine the feeling but I think that it would be like having not started project when the deadline is really close.
3. I’d prefer to live in apartment because I wouldn’t have to deal with things as taking care of my driveway in winter and stuff
4.I don’t really know, it is a hard question.
Flat or house - it depends. When you are the part of big family with kids and dogs, then it would be better to own a house. If you want to live alone and work at the city center - flat, for sure.
I live alone and I like it. Last year I had a flatmate. She was asian, and our style of living and cleaning the home were completely different. Never again:)
I prefer to buy a property, definitely. However, currently I'm renting a flat, because I can't buy a house. I'm not making enough money.
2. Would you be afraid of taking out a dwelling loan?
I wouldnt, because I was talking about it with my parents and they would help me with this.
3.If you had a sufficient budget to purchase a house or an apartment, which one would you choose and why?
Definitely a house. I had been living in a house until I started studies. Having my own house with a garden is my life goal.
4.Do you prefer to live alone or share a flat with others?
I was living in Szczecin for 3.5 years and I was living alone. Now, I'm living with a flatmate. It's not a big problem, but I prefer to live alone.
I prefer buying property than renting. Why? Because I like when something that I'm the owner is just mine. I like to change things and when you rent a property you have rules that you have to respect.
Would you be afraid of taking out a dwelling loan?
I wouldn't be afraid of taking out a dwelling loan. In fact it would be cheapper than renting a flat for a long time
If you had a sufficient budget to purchase a house or an apartment, which one would you choose and why?
I would choose a house with big garden because I have five cats which love to go outside.
Do you prefer to live alone or share a flat with others?
I'm kind of person that love to be alone. But if someone respect my "lonely zone" then I would consider sharing with that person a flat.
Same thing with home loans. Taking a loan we have to pay its whole amount
with prearranged percentage of the bank. Also there is a certain risk of debt
in case of financial problems. That's why I prefer paying once to living in
stress for 20 years because of instalments.
If I had sufficient budget I don't know what I would buy. A house - you have big space, it's away from a city. But it's away from a city, so you have to spend much time travelling to/from work. I think a flat would be better for me.
Now I'm sharing an apartment with two other people. I hate it - I decided to move and live alone. No more strangers I don't like.
I prefer to buy. Renting cost more than buying and in the long term while renting you're just throwing your money away. But there are times when renting is the only option (short working time, bank credit too high etc.).
Would you be afraid of taking out a dwelling loan?
Got two of them right now. It is easier when you have a partner that helps a lot. There are many catches while taking it but use help of companies like Expander and talk a lot with your friends who are already over it and you will do just fine.
If you had a sufficient budget to purchase a house or an apartment, which one would you choose and why?
I've bought a block of flat because I like to live in a city center. I hate traffic jams and like the ideal when I can get home quickly at 2:00 in the morning by metro or a cheap taxi (it doesn't cost a lot like going to Bialoleka or Piaseczno like few of my friends).
Do you prefer to live alone or share a flat with others?
I lived alone, lived with my friends also lived with 3 girls at once for two years.
Currently living alone with my girlfriend and loving it. Every way have it's cons and pros. We thought about sharing a flat with a female from other country - done it before, why not do that again. Especially for language training.
Now I am forced to live with other people but it's much better to live alone...
Not wishing to pay rent is often cited as the major incentive for getting on the property ladder but many buyers often overlook added costs like building an insurance and the upkeep of the property. Prospective homeowners tend to underestimate the financial benefits of renting