Some people choose to rent even though they can afford to buy a house. Illustration photo by Read/Quynh Tran
Many Vietnamese people cling to the belief that one must buy a house and settle down, which prompts them to endure hardship to achieve homeownership.
Even rich Americans sometimes avoid buying houses due to high interest rates, dissatisfaction with the housing market, and reluctance to take on maintenance costs. Personally, I prefer renting instead of buying. Renting offers flexibility as I can easily move somewhere else if I am unhappy with my current place, whether due to a deteriorating property or noisy neighbors.
The outdated belief that people have to buy a house and settle down in one place is why many have forced themselves to purchase houses at any cost. They usually work hard only to afford a small home and then have no more money or energy left to enjoy life.
For me, life is short, and a house will not follow me after I die. While some argue that buying a home for future generations is ideal, I believe that properties will deteriorate long before they are passed on to our children.
Though I can afford a home, I choose to rent a new apartment each year for a change of scenery and to save money for other priorities. I do not put too much emphasis on material possessions, so moving frequently is not a problem for me.
Others claim home prices will rise, but economic cycles show that real estate bubbles will inevitably burst. Researching when this might happen can help avoid financial losses.
With so many rental options available in Hanoi, finding a place near your office or your children’s school is not that hard.
So what is your viewpoint on this matter?
*This opinion was translated into English with the assistance of AI. Readers’ views are personal and do not necessarily match Read’ viewpoints.
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