People belonging to few nations prefer owning a house rather than live in a rented house. The idea behind this is quite debatable but an interesting one. This essay will discuss the reason and few pros and cons of this situation.
In the recent times, it is witnessed that an individual working in his/her home country with no plans of immigrating to another country prefers to live in his/her own house rather than staying in a rented house. Every individual is focused on maximizing their earnings to lead a better and relaxed life. Because they live in a rented house, they are liable to pay monthly rent to the landlords which results in decreased savings. The regular liability to pay rent is taxing on all majority of the individuals and hence they prefer and plan to own their house. Not only it will lead to saving monthly rents but also ensures complete privacy to their families.
Besides the pros of increased savings and improved privacy, there are several negative impacts of living in an own house. Firstly, owning a house is expensive for any individual as the cost of purchasing own house is a lot higher than staying in a rented place. Secondly, people might also need to borrow loan from financial institution or a money lender which requires a security. After purchasing the house, the loan is to be repaid in monthly instalments which would be a lot higher compared to the rent of a leased house. Living in a rented house also ensures that some part of savings is available for expenses.
To conclude, I believe that people should focus more on owing a house as it improves their standard of living and also boost their pride.
People
belonging
to
few nations prefer owning a
house
rather
than
live
in a rented
house
. The
idea
behind this is quite debatable
but
an interesting one. This essay will discuss the reason and few pros and cons of this situation.
In the recent times, it
is witnessed
that an
individual
working in his/her home country with no plans of immigrating to another country prefers to
live
in his/her
own
house
rather
than staying in a rented
house
. Every
individual
is focused
on maximizing their earnings to lead a better and relaxed life.
Because
they
live
in a rented
house
, they are liable to pay monthly
rent
to the landlords which results in decreased
savings
. The regular liability to pay
rent
is taxing on all majority of the
individuals
and
hence
they prefer and plan to
own
their
house
. Not
only
it will lead to
saving
monthly
rents
but
also
ensures complete privacy to their families.
Besides
the pros of increased
savings
and
improved
privacy, there are several
negative
impacts of living in an
own
house
.
Firstly
, owning a
house
is expensive for any
individual
as the cost of purchasing
own
house
is a lot higher than staying in a rented place.
Secondly
,
people
might
also
need to borrow loan from financial institution or a money lender which requires a security. After purchasing the
house
, the loan is to be repaid in monthly
instalments
which would be a lot higher compared to the
rent
of a leased
house
. Living in a rented
house
also
ensures that
some
part of
savings
is available for expenses.
To conclude
, I believe that
people
should focus more on owing a
house
as it
improves
their standard of living and
also
boost their pride.