The world is the a combination of different cultures, economies, religions, etc. It's like a rainbow. Humans spread all over the world has different charecters backed by their social & economic cultures.
As an example If we get two persons from europe and asia the way of living is diffrent, Its backed by socio economic factors. When consider about the fact of owning a house and live in a rented house has to evaluate based on the cultureal and ecomonical factors. Based on this we can identify the pros or cons of the renting or owning.
Owning a house is a capital expense and living in a rented house is an operational expence. Capital expense is a one time payment of the full amount and the ownership is transffering to the purchaser. There are some options available for the capital purchase like the bank loans, But to apply for a bank loan is an extenced process whis needs more legal requirements to full fill.
But in most countries if a person dosent have a fixed income sources, it is a difficult task to obtain a bank loan facility. Though a person get a bank loan and purchase a house the ownership only transferes once the total amount plus interest paid. Meanwhile if fail to pay the loan then bank will get the ownership of the pro[erty. Renting a house is an Operational expence, There are no any though bond in renting a house.
Tenent do not have to pay for the annual repairs or maintanance other than agreed rent amount.
But in some countries the community perceptions are different. People think the owning a house will improve the social recongnition rather live in a rented house.
But in my opint of view this is a critical economic decesion that has to evaluate properly before proceed.
The world is
the a
combination of
different
cultures, economies, religions, etc. It's like a rainbow. Humans spread all over the world has
different
charecters
backed by their social & economic cultures.
As an example If we
get
two persons from
europe
and
asia
the way of living is
diffrent
, Its backed by
socio economic
factors. When
consider about the
fact of owning a
house
and
live
in a rented
house
has to
evaluate based on the
cultureal
and
ecomonical
factors. Based on this we can identify the pros or cons of the renting or owning.
Owning a
house
is a capital expense and living in a rented
house
is an operational
expence
. Capital expense is a one time payment of the full amount and the ownership is
transffering
to the purchaser. There are
some
options available for the capital
purchase
like the
bank
loans
,
But
to apply for a
bank
loan
is an
extenced
process
whis
needs more legal requirements to full fill.
But
in most countries if a person
dosent
have a
fixed
income sources, it is a difficult task to obtain a
bank
loan
facility. Though a person
get
a
bank
loan
and
purchase
a
house
the ownership
only
transferes
once the total amount plus interest paid.
Meanwhile
if fail to pay the
loan
then
bank
will
get
the ownership of the pro
[
erty
. Renting a
house
is an Operational
expence
, There are
no
any though bond in renting a
house
.
Tenent
do not
have to
pay for the annual repairs or
maintanance
other than
agreed
rent amount.
But
in
some
countries the community perceptions are
different
.
People
think
the owning a
house
will
improve
the social
recongnition
rather
live
in a rented
house
.
But
in my
opint
of view this is a critical economic
decesion
that
has to
evaluate
properly
before
proceed.