People in some nations believe that it is crucial to purchase a house than renting one. It is often thought to be a worthwhile investment to own a house and as a savings instrument. This essay will discuss why this expenditure is positive with valid arguments.
To begin with, buying a house is a low-risk investment where there is security and no immediate loss for the buyers. In addition, it cuts out the need for searching multiple residential areas to rent a house. For instance, owing a house enables a person to live at one place as long as they desire without having to abide by someone else’s rules which arise when renting an apartment or individual house. Moreover, rented houses come with lease agreements and owners have a choice of throwing someone out but owning a house always provides security and a roof over one’s head.
Although buying a property demands a considerable amount of capital, it stands as a long-term investment. This in turn helps boost the economy of a region. For example, boon in real estate generates house tax and water tax on owners which ultimately contribute to the overall economy of the country since taxes are paid to the government. Furthermore, when more people buy properties, it produces employment opportunities for many daily wage labour and construction workers. Additionally, governments have subsidized and granted plots for many economically backward people who do not own a home.
In conclusion, owning a house indicates development of an individual as well as the society. Given the security and economic advantages, purchasing a home is preferred by many.
