House rents have become too expensive recently. In few parts of the world people feel that it is better to own a house where the live than renting one. This essay shall examine both positive and negative effects of buying a home and why I feel having own house outweighs the other in a positive way.
On the one hand, renting a house in main cities is costly and almost equal to the EMI we pay for the mortgage. It consumes a large part of the salary. Indeed, buying a home and paying loan interest to the bank is better than living on rent. For example, population staying in Melbourne have to spend nearly 1, 500 to 2500 dollars a month on housing which is nearly 35 to 40% of the salary an average person earns. If it persists for years it costs more than what it costs to own house. Hence, it is beneficial to invest money on building a own house than staying at rent.
On the other hand, spending money on buying a new home can make you struggle with finances. Nevertheless, one have to adjust and save accordingly as a struggle will last only for a few years, after which financial stability prevails. Furthermore, there will be no need to worry on paying rents in future. Having a own home designed keeps you satisfied and peaceful. According to the latest article in th times newspaper, a family with own house feels less burden and economically happy than others. Therefore, in my opinion owning a house is considered as a positive situation both for stable finance and mental health.
To conclude renting a home can cause a unpredictable loss of money over the years. So, buying a house on mortgage and paying off the loan with interest will help you to plan a better carefree life with lesser expenses. Though there may be a few troubles initially they shall pass away with time. Designing the house also relieves stress and improve the mental well being of the individual.
House
rents have become too expensive recently. In few parts of the world
people
feel that it is better to
own
a
house
where the
live
than renting one. This essay shall examine both
positive
and
negative
effects of
buying
a home and why I feel having
own
house
outweighs the other in a
positive
way.
On the one hand, renting a
house
in main cities is costly and almost equal to the EMI we pay for the mortgage. It consumes a large part of the salary.
Indeed
,
buying
a home and paying loan interest to the bank is better than living on rent.
For example
, population staying in Melbourne
have to
spend
nearly
1, 500 to 2500 dollars a month on housing which is
nearly
35 to 40% of the salary an average person earns. If it persists for years it costs more than what it costs to
own
house
.
Hence
, it is beneficial to invest money on building
a
own
house
than staying at rent.
On the other hand
, spending money on
buying
a new home can
make
you struggle with finances.
Nevertheless
, one
have to
adjust and save
accordingly
as a struggle will last
only
for a few years, after which financial stability prevails.
Furthermore
, there will be no need to worry on paying rents
in future
. Having
a
own
home designed
keeps
you satisfied and peaceful. According to the latest article in
th
times newspaper, a family with
own
house
feels less burden and
economically
happy than others.
Therefore
, in my opinion owning a
house
is considered
as a
positive
situation both for stable finance and mental health.
To conclude
renting a home can cause
a
unpredictable loss of money over the years.
So
,
buying
a
house
on mortgage and paying off the loan with interest will
help
you to plan a better carefree life with lesser expenses.
Though
there may be a few troubles
initially
they shall pass away with time. Designing the
house
also
relieves
stress
and
improve
the mental
well being
of the individual.