Being a part of Generation Y, it’s hard not to harbor slight bitterness when judging our financial situation alongside that of previous generations. It appears as if the baby-boomers got the whole package: lifelong careers, excellent pension plans, large suburban homes, and charming grandchildren like myself. Comparing my life at the age of 25 to my grandfather’s, the disparity is startling. At my age, he had his second mortgage, third auto, and possessions far exceeding mine. I’m certainly not impoverished, but I don’t yet have my own house.
So, what’s the plan? I’ve certainly had my fair share of renting experiences; from the uniquely quirky and slightly shabby to a comfortable city apartment. Being a tenant isn’t all bad; a fact supported by the large number of people who rent. A recent study shows that many people rent because they can’t afford to buy a house, though some do it for the sheer liberty it provides. This lifestyle often differs depending on one’s region, as evidenced by Germany, where the capital city, Berlin, boasts a rental market that comprises an astounding 90% of the entire property market.
So yes, renting it is, at least for the time being, even in my cozy apartment far removed from Germany. As for home-ownership, I’ve looked into it, and for a substantial deposit and hefty monthly installments, I can purchase a compact place in an offbeat location surrounded by stark industrial buildings. It is an appealing idea, but it might need further resolute consideration.
Is there a middle ground between owning and renting? I’ve pondered this question myself often: a pathway allowing significant savings while keeping housing expenses minimal. In the futuristic novel, Ready Player One, everyone resides in repurposed shipping containers stacked skyward. Though practically initiating such a trend seems unlikely, I am fascinated by the tale of an astrophysics student from England who chose to live in a tent for its cost-efficiency — an innovative idea from a fellow Generation Y member. That said, it does appear unbearably frosty, so I’ll remain a renter for the foreseeable future.
So, it all comes down to finding a suitable deal for renting. You could ask your close friends, family, or colleagues for affordable options, thereby avoiding rental agency hassles. However, if you choose an agency, make sure to research them thoroughly by reading online reviews, this way you can make sure they treat their tenants fairly. Most importantly, choose a neighborhood or area that brings you joy — because whether you buy, rent, or pitch a tent, residing in a space that you love, is a priceless delight.
