Renting Can Seem So Appealing Financially For The Short Term
Financial Management

Renting Can Seem So Appealing Financially For The Short Term

grouse mountain eye of the wind vancouver

Today I had to go to a place where the people I was helping rented out a house using AirBNB. It was a pretty typical house where in total there seemed like there was about 5 to 7 rooms. The amazing thing was that the person told me the rent for the day was $90. That sounds insanely cheap for how much space they were getting for a day. Even at the whole month that is about $2700 or so. Almost cheaper than renting an office space in a building funny enough and this is a whole house.

But I was then thinking how even though the rental price sounds super appealing it’s still probably usually better to try and own something like this if you actually planned to say live in it. I usually try and avoid renting items because many times I find such as for general equipment the price of it is so high that it’s almost literally 10% of the cost of the item. It sure sounds more appealing than having to buy the whole thing for the day of course. But I often see people renting the same stuff over and over again to the point where it would have been better to just buy one. Heck, you could then rent it out yourself if you wanted to right?

I find that is one of the bad habits where if you are basing expenses on just how much you have in your wallet right now per se you can end up just spending way too much. Save a lot in the short-term but lose a lot in the long-term many times in these cases.

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