The pros and corns of owning and renting a house

The accommodation is one of the basic human needs and in some countries, ownership of a house is vital than live in a rented house. Most of the people believe that owing a house is an essential aspect of their life which reflects the wealth of a particular person. In Asian countries, Before marriage, it is presumed that the man should build his own shelter that he become eligible for continue a relationship with a woman. Renting means living in someone else home for shorter or longer period by paying a fee to property owner. Though this is more cheaper in shortrun, the residents in that house may costs more money in the long run. As per my opinion, having personalised residence for a family is a blessing that positively affect all the members. The home address under your name is importanat when doing banking transactions, registering children to schools, universities and hospitals, obtaining police clearences and licence etc. Basically, it will provide protection or security while adding prestige to the life than residing a paid apartment. In contrast, there can be negative situations where constructing a home than renting. It can be high in cost since building a house enage in several stages. Further proper registration in government organizations should be done and need to obtain more permissions from local authories which are more time consuming. Moreover, if your stay is for a shorter period of time then renting is ideal for that circumstance. Hence it can be conclude that, based on the length, location, purpose of the residents the renting and owing option may be vary.