>be 23
>got first job
>want to buy/rent a place in the "near" future
So, as I just started I obviously can't get a loan or even a rent warranty that some companies give you for renting.
What should I do? Save as much as I can every month? In a bank account? Standard or something special? Or should I wait until I have the requirements to ask for the loan (+1 or 2 years of continuous stable employment).
Also is worth nothing that the salary is about twice the minimal wage (code monkey job), saying the actual number won't help much cause a thousand bucks in different places means different possibilities.
I'm totally clueless about this, up until now I was just a student.
>>17245667
Some property management companies require tenants to earn three times rent.
I don't get it, why do you need a loan if you just want to rent?
>>17245667
myself I would start saving up and wait 2 or 3 years before going for a loan/mortgage
to be honest with ya i'm 33 iv worked in some real shity paying jobs and not have enough to save up for a place of my own its hard saving up
>>17245685
You require a deposit or property warranty to rent, the deposit is usually 5-7 times the rent.
It would be way faster than saving up to buy, but once I'm renting it will be near impossible to also save to buy later, well, idk.
>>17245705
Where do you live where you need that much? Where I live, it's only four weeks, max (by law), and you get it back at the end of the tenancy if there's no damage to the property
>>17245714
Four weeks? Sweet.
In my third world shit hole its usually 6 months and that is legal, with some luck by the end of the year maybe I can have that much saved, actually I think I will do that cause I really need to move out.
>>17245743
If that's the case there, you'd be better off saving up to buy a house. Buying a house here is incredibly expensive because there are so many foreign investors, we've pretty much got a housing crisis in some parts of the country.
But without a loan it would really take too long, and for the loan itself I would have to wait a year or two, not to mention that I can't ask for a big loan cause my salary isn't so high.
I was just looking up HSBC and it requires about twice my salary for a loan to buy a house.
While I don't love the idea of renting, I'm really not comfortable here and I need my own space, I'm burnt out here.
>>17245788
Well it sounds like your choices are
>stay where you are and be able to buy a house and live happily ever after in the knowledge that you own your own home
>move out and remove yourself from your home environment ASAP, but probably end up having to rent for the rest of your life
I'm one of those people who thinks long term benefits are worth short term sacrifices, but I don't know what you think and I don't know what your home life is like.
