People in some nations consider owning a home much more important than renting one. Living in a self-owned home gives a feeling of stability, comfort and security. In my opinion whether it is a positive or negative situation depends on many factors.
People owning a home do not have to worry about the landlord nor do they have to pay a monthly rent. Hence, they can modify their home according to their needs and wants and feel secure in it. For many, the home is like a heaven and so they spend quite a fortune on designing and decorating it. Some people, on the other hand, consider their home as an investment which they expect to appreciate in value in the future.
All in all, I feel that whether owning a home is a positive or negative situation is quite subjective, depending on the circumstances of the person. For people who have the money to buy a big house and few financial liabilities, their house is an asset and owning a house is a positive situation for them. However, most of the middle class families buy a big house which is often out of their budget. They fund this by taking out huge loans and end up repaying the amount over a very long time. This increases the interest they have to pay. In addition to this, they have to pay property taxes and insurance which are directly proportional to the area of a home. Furthermore, the electricity and maintenance costs get added to their everyday expenses.
To conclude, I feel that owning a home can be a pleasurable experience if done within a budget. However, it could turn into a negative situation when a person buys a home by getting a loan that is way beyond his repaying capacity.
People
in
some
nations consider
owning
a home much more
important
than renting one. Living in a self-
owned
home gives a feeling of stability, comfort and security. In my opinion whether it is a
positive
or
negative
situation
depends on
many
factors.
People
owning
a home do not
have to
worry about the landlord nor do they
have to
pay a monthly rent.
Hence
, they can modify their home according to their needs and wants and feel secure in it. For
many
, the home is like a
heaven and
so
they spend quite a fortune on designing and decorating it.
Some
people
,
on the other hand
, consider their home as an investment which they
expect
to appreciate in value in the future.
All in all, I feel that whether
owning
a home is a
positive
or
negative
situation
is quite subjective, depending on the circumstances of the person. For
people
who have the money to
buy
a
big
house
and few financial liabilities, their
house
is an asset and
owning
a
house
is a
positive
situation
for them.
However
, most of the middle
class
families
buy
a
big
house
which is
often
out of their budget. They fund this by taking out huge loans and
end
up repaying the amount over a
very
long time. This increases the interest they
have to
pay.
In addition
to this, they
have to
pay property taxes and insurance which are
directly
proportional to the area of a home.
Furthermore
, the electricity and maintenance costs
get
added
to their everyday expenses.
To conclude
, I feel that
owning
a home can be a pleasurable experience if done within a budget.
However
, it could turn into a
negative
situation
when a person
buys
a home by getting a loan
that is
way beyond his repaying capacity.