How many of you are renting a house, paying €600 – €1,000 per month or sharing a house with others and paying your landlord €300 per room? I’d say quiet a few! I bet the majority of you are telling yourselves and others that you’re waiting for house prices to drop – That you see in the news that prices are set to drop even more over the next year. So off you go and pay another €9,000 (€750 pm)in rent for the next year while you wait and see what happens. Doesn’t make as much sense now does it? You may be lucky and see a large drop in a property you like or you’ve just handed out another 9k.
Everyone seems to think that’s acceptable to throw money down the drain year in and year out on cars but when it comes to buying a home for your family it’s just wrong! A home, a building that is yours to decorate, to add your own personal touch to. We all go out and spend money on cars that depreciate up to 3k as soon as it leaves the showroom and can loose way more over a year depending on the value of the car. It just doesn’t make sense to me when I look at it like this. Why not take the plunge, go out and buy the house you want and can afford? So what if it looses money, the large drops have happened so there isn’t going to be any huge savings if you’re renting. There is no better feeling than to come home to your new home. I have always felt strongly about this in both personal and business. I have rented, it sickened me and I promised myself never again. I rented an industrial unit for the first 5 years of business giving my then landlord 80k in rent. Regardless of what I’ve lost in value on business properties since then that 80k would have paid a sizeable amount off my loans.
While some people have no other choice than to rent there are plenty out there too scared to take that leap. I say do it, forget about how much it may drop and think about everything you gain while you immediately stop lining your landlords pockets. Calculate how much you have spent and lost on cars in the last 5 years which you somehow find acceptable and then ask yourself why is buying a home any different.
