People from some countries argue that self-owned house property is always better than living in a rented house. In my opinion, I think this is a positive situation because having an owned house is associated with security and stability which many people want for themselves to lead a happy and satisfying life.
Owning a house gives people a sense of security and satisfaction which is an essential aspect that every individual sought to achieve in their life. This is the lifetime commitment that people make with themselves as they invest their hard-earned money to build a place they would proudly call their “Home”. For Instance, in a country like India where family and tradition is valued a lot where the house is not an asset but wealth, having owned a house to inherit to the future generation is considered to be an honor and pride.
The self-owned property comes with lots of benefits associated with it, one of the major benefits that a person can avail of is a tax exemption. In India, most people purchase their homes with help of a bank loan, hence, the interest payment with some ceiling gets exempted from tax as a result of which person can save more. Furthermore, if a person has more than one house property, they can rent it out which will bring in an additional source of income.
On other hand, a person can renovate and decorate the owned house as he wants, which is not in case if the person is living in a rented house and has no rights in what so ever changes he wishes to do with the place. In fact, the self-owned property becomes a reflection of one’s lifestyle and the only place in the world that can be comfortable and safe.
In conclusion, although few people do stay in a rented house for whatever reason, the self-owned property will always be considered the safest possible situation at any given point in time.
People
from
some
countries argue that self-
owned
house
property
is always better than living in a rented
house
. In my opinion, I
think
this is a
positive
situation
because
having an
owned
house
is associated
with security and stability which
many
people
want for themselves to lead a happy and satisfying life.
Owning a
house
gives
people
a sense of security and satisfaction which is an essential aspect that every individual sought to achieve in their life. This is the lifetime commitment that
people
make
with themselves as they invest their
hard
-earned money to build a place they would
proudly
call their “Home”.
For Instance
, in a country like India where family and tradition
is valued
a lot where the
house
is not an asset
but
wealth, having
owned
a
house
to inherit to the future generation
is considered
to be an honor and pride.
The self-
owned
property
comes
with lots of benefits associated with it, one of the major benefits that a
person
can avail of is a tax exemption. In India, most
people
purchase
their homes with
help
of a bank loan,
hence
, the interest payment with
some
ceiling
gets
exempted from tax
as a result
of which
person
can save more.
Furthermore
, if a
person
has more than one
house
property
, they can rent it out which will bring in an additional source of income.
On other hand, a
person
can renovate and decorate the
owned
house
as he wants, which is not in case if the
person
is living in a rented
house
and has no rights in what
so
ever
changes
he wishes to do with the place. In fact, the self-
owned
property
becomes a reflection of one’s lifestyle and the
only
place in the world that can be comfortable and safe.
In conclusion
, although few
people
do stay in a rented
house
for whatever reason, the self-
owned
property
will always
be considered
the safest possible situation at any
given
point in time.