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.