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Reasons Why You Must Not Treat A Rented House As A Permanent Place

It’s important to understand that you shouldn’t invest too much in rent and the reasons stated below on Facebook by Lanteye Bruce will help you understand why you must not treat a rented house as a permanent place.

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Almost every tenant has a dream of building or buying their own house one day, regard­less of how much rent the tenant pays. Before you rent any place, give yourself a timeline to leave and work towards owning your own place.

Many people have invested soo much of their monthly salary in their rented rooms and they even go the extra mile of using their own funds for repairs in the room. This shouldn’t be the case, you must consciously ensure you don’t invest too much capital on rent because landlords can eject you for any clumsy reasons.

It’s important to understand that you shouldn’t invest too much in rent and the reasons stated below on Facebook by Lanteye Bruce will help you understand why you must not treat a rented house as a permanent place.

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As much as possible, ensure you don’t lock your capital in ‘luxury’ but only the basic needs.

You don’t need a two-bedroom house or apartment with the mindset of a room for guests. This is the thing, renting a two or three-bedroom place, with the mindset that you’d need an extra room for guests is just a waste of money. Guests are not a constant in our daily lives and investing in a room in anticipation of guests is not a prudent use of money.

Also, renting a bigger space, you can do without, results in more running costs. Young wo(man), get a single room self-contain and put the rest of the money away. The savings could get you between 50 to 100 blocks a month.

I suggest you don’t buy an expensive bed, you can put your mattress on the floor or get a palette bed, save the bed money as an investment into your own home. That’s about 150 to 300 blocks saved.

Don’t buy that wardrobe. Save that for about 200 to 350 blocks, you can get one of these less expensive but durable plastic wardrobes online. When you get an architect to design a house for you, ask them to have a wardrobe fixed into the structure.

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You see that big screen Smart TV you want to buy for 2500 cedis, ditch that for a 32 inch or a less expensive but durable TV for less than 1500 cedis. That can get you a number of cement bags or sand.

Sometimes you don’t need fancy stuff in your kitchen. That cooker with oven/grill etc you wish to buy eh, how often would you use it…can you maximize its use? No. Just get a simple two-burner gas stove and save yourself some more money. An extra 150 to 300 blocks saved.

Don’t buy that electric water heater for the bathroom. Don’t buy that heater for the kitchen. Stick to the gas cooker. You’ll save on both capital and running costs. That’s another 150 to 200 blocks.

Sometimes, we are tempted to tile our rented places if they are not tiled already. We are tempted to get fancy painting and wallpaper to beautify the place. Each square meter you tile in a rented place is a square meter denied in your own place. The wallpaper is a luxury you can live without.

Save that money if you can. Buy carpet and use it till you move. You won’t die if you deny yourself a tiled place for 3 to 4 years to enable you to own yours. That fancy lighting…ditch it. Buy energy-efficient bulbs to give you illumination and help reduce your electricity bills.

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Don’t buy that big fridge yet. Get a small one to keep your food and drinks. It’s just you and occasionally your friends and loved ones who come around to visit. No need to go big on the fridge.

Don’t buy that washing machine yet. Instead, buy clothing that is easy to wash. That way, you don’t spend too much time doing the laundry. The washing machine money can buy you more blocks.

You don’t need a fancy couch. There are simpler ways to enjoy your space. Let every decision you make lead you out of rent to owning, either by buying or building. Building your own house is capital intensive… time-consuming…but an exciting and liberating experience if you plan and consciously work towards it.

That your car that costs more than 50k…sell it and get a KIA Picanto/morning for 20k to 35k, use the extra to pay for the land, or begin your project if you have land.

That habit of upgrading to the latest iPhone or Samsung phones every 6 months or every year can stop. So far as the phone you’re using is working perfectly, you can channel the money of buying a new phone into your building project.

While you try to be austere and disciplined to get to your goal…don’t forget about generosity. Have a budget set aside to help those in need or devote some time and skills to positive causes. How good is the world if inequality increases?

Little drops
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Your home tomorrow.

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