[BoorishBears]

>You don't need to sell your house for a profit (although we all would love to). Had you rented like @magic_beans wants you to, you might have lost 100% of that money and every year your rental price may go up, you might not be allowed to have pets, you can't make improvements you want; you can lose a lot of control with renting.

For the record, my apartment is pet friendly, you're allowed to paint the apartment, I've been allowed to change fixtures I don't like (such as replace their smart thermostat with a Nest), and there are amenities I could never afford myself (a proper private theater complete with movie theatre seats, a top quality gym, yoga studio, apartment owned cafe, etc.).

And this year want the chance to work in a new market so I'm just not renewing my lease. It took 5 minutes of filling out a form to decide I'm allowed to leave in 30 days with 0 financial burden.

As a 20-something year old I think buying a house in your 20s is a terrible idea unless you're talking very late 20s (practically 30s).

A huge investment feels like it'd be adding almost as much inertia to your life as a wife, kids, and settling down (from a financial standpoint it certainly is). It's an age at which even some people who think they have it all figured out enough to settle down don't (not that it's not an issue at other ages, but the early and mid 20s are a ripe time to do something about it when it happens), and the last thing you want to to do after you decide to make a change is to deal with a mortgage hanging over your head.

[switch007]

> ...a top quality gym, yoga studio, apartment owned cafe, etc.).

It's funny how different things are in different countries. I've read a few US rent-vs-buy articles and they often mention these uber cool apartment blocks. I think they're extremely rare and/or so expensive nobody's heard of them in the UK (outside of small, prestigious areas of London). Here, a majority of the flats are in blocks with just the accommodation or are converted houses in residential areas.

City centres with purpose-built modern apartments at the upper end of the market might have a gym, maybe a concierge and occasionally parking. :)

[BoorishBears]

It's definitely a trend forming in the part of my city and it feels centered around gentrification.

The part of the city outside downtown is generally poor and has serious crime problems. But downtown, older properties are being converted into nearly unrecognizable modern high-end apartments priced out of the range of (most) locals and have reached a pricing ceiling so high they can get away with 50% occupancy and simply compete on amenities for the people who don't care about how much they cost. To top it off the city is practically giving away the properties to the developers to try drive growth.

I care about the price but there's a state fund I jokingly refer to as the "Gentrifcation Fund" (I forget the real name) that will pay a part of your rent in certain properties if your income is under a certain amount.

The problem is unlike most assisted housing the limit is based on making more than most people, not less. It's defined as 150% of the local median income. Combine the income limit based on people making 2.5x the median income with the high rent, and you essentially have a fund that's paying well off people (poorer people can't afford the apartments even with the subsidy) to live in expensive apartments, feeding the gentrification of the area. I'm conflicted because it allows me to live in a very nice apartment, but I know that money could be better spent elsewhere.

It's funny because I see it as "trickle down economics" in action. For example, while I might be able to afford the apartment otherwise, the fund frees up would could be disposable income for me. The hope is probably I'd spend that money in the local economy.

Except instead what it does is give me more money to save, I sure don't feel any urge to go and waste it on expensive overpriced Downtown restaurants every night.

[user5994461]

I think people just don't care about where they live and how much they pay. I am constantly amazed at how many people pay a fortune for tiny rooms and 3-6 flatmates.

There are lots of places with concierge in London and a few with parking or gym. If you really want one, you'll get one. There is no notable price difference.

[TomMarius]

It's getting increasingly common in Prague upper-class apartment buildings.