Millennials: Should You Buy or Rent a House?
Who doesn't want to own their own home? Perhaps the dream of today's millennials is to be able to buy a house with their own sweat, to be able to start a new family, and so on.
But, looking at the housing brochures currently circulating, why does this dream seem to be fading, slowly slipping away, and even seem impossible?
For example, let's say a house is priced at 700 million rupiah. Assuming a 30% down payment is needed to qualify for a mortgage, that means you need to save 210 million rupiah.
For example, if you can save 2 million rupiah per month, it will take approximately 9 years to be able to make a down payment and start paying off the remaining 70% of the debt.
So today, we'll discuss the advantages and disadvantages of renting or buying a house, and four questions you should answer to help you decide whether to buy or rent.
Timestamp:
00:00 Opening
00:30 Is it possible for millennials to buy a house?
00:43 Home Purchase Simulation
01:51 Renting a House
02:50 #1: Memory
03:35 #2: Building Wealth
04:00 #3: Certainty
04:55 #4: Cost
05:50 4 Points to Determine Whether to Buy or Rent a House
07:22 Calculating Your Ability in the Eyes of the Bank
08:26 Closing
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