Firstly, the basic need of human beings is shelter. Some humans want to live on their own, but some obstacles are facing them. Individuals who want to fulfil their desires go for the house loan which is provided by the bank. The bank charges a high rate of interest, so this will become a higher risk individual. If the individual does not pay the EMI, then the bank will sell their preferred property. The government of the country also helps people who want to get their own home. To cite an example, a country like India, where the prime minister launched a scheme called the Pardahan Mantri Awas Yojana, which means that the government will give small properties to people who are not able to buy their property at lower EMIs. Secondly, renting a house is also an option to live in. For individuals who have their own house in another place but are living in another place for reasons like study, job placement, etc. , they choose to pay rent to live in the house. For instance, a survey of the country's individuals showed that 40% of the individuals surveyed chose to rent a house. because it is much easier to pay rent when you don't have a burden on your mind To conclude, both owning their propertiy and renting a house are important in an individual's life because they need shelter where they can live with their family and have memorable moments with their family, no matter whether it is their own property or a rented house.
Firstly
, the basic need of human beings is shelter.
Some
humans want to
live
on their
own
,
but
some
obstacles are facing them.
Individuals
who
want to fulfil their desires go for the
house
loan which
is provided
by the bank. The bank charges a high rate of interest,
so
this will become a higher
risk
individual
. If the
individual
does not pay the EMI, then the bank will sell their preferred
property
. The
government
of the country
also
helps
people
who
want to
get
their
own
home. To cite an example, a country like India, where the prime minister launched a scheme called the
Pardahan
Mantri
Awas
Yojana
, which means that the
government
will give
small
properties
to
people
who
are not able to
buy
their
property
at lower
EMIs
.
Secondly
, renting a
house
is
also
an option to
live
in. For
individuals
who
have their
own
house
in another place
but
are living in another place for reasons like study, job placement, etc.
,
they choose to pay rent to
live
in the
house
.
For instance
, a survey of the country's
individuals
showed
that 40% of the
individuals
surveyed chose to rent a
house
.
because
it is much easier to pay rent when you don't have a burden on your mind
To conclude
, both owning their
propertiy
and renting a
house
are
important
in an individual's life
because
they need shelter where they can
live
with their family and have memorable moments with their family, no matter whether it is their
own
property
or a rented
house
.