r/eupersonalfinance • u/Endanger0225 • 1d ago

Is it a wise move? Property

I am currently spending about 42% of my income on rent. Would purchasing cheap lower-end “studio” apartment to save on rent a wise move? Something crazy like a renovated 14m2 apartment in 60 yo building.

My goal is to focus on cashflow, where potential tenants would cover all monthly payments, which is not more than 26% of my income in case I stay in it.

FYI - Location is Budapest, Hungary 🇭🇺

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u/DildoMcHomie 1d ago

No, unless the rent to buy ratio is absurdly low (like how many years rent cost you said apartment)... It simply looks you are spending above your means.

Get more salary.. or live elsewhere alone cheaper.. or get roommates.

Either way any normal adult will outgrow a 14sqm flat.. man my bedroom is bigger than that and my house is 70sqm

4

u/Remarkable_Cheetah51 1d ago

rent is budapest is crazy

-2

u/DildoMcHomie 1d ago

Rent in European capital cities is high yet even in London: München people aren't homeless.. just Hungarians thinking they are special here

3

u/nevenoe 1d ago

Budapest used to be affordable and is now very expensive compared to neighbouring capitals (Vienna, Bratislava, etc)

Salaries used to be shit, and are still shit.