In some countries, owning a home rather than renting one is very important for people. Why might this be the case? Do you think this is a positive or negative situation?

'Own house', the term sounds luxurious to someone, while for other's close to the heart. Owning a home is a dream for everyone, but some people argue, it is not the best idea to spend your whole life making repayments, if you do not have the enough money buy by direct payment. Let's move forward into the discussion, in favour of people who want to own a residence, as their life's dream. We have seen a plethora of people, who own a home, consider themselves into a high value status in their own community and they less bother about, monthly instalments. As a calculation, in some part of the country, owning a building is either cheaper or equivalent value compared to rent a residence over a period of time. At the end of the day, you got your own asset.

For example

, people in India consider the own house will be their best option, over renting a house. It will be as one of future savings, during their retirements. On the flip side, buying an apartment or villa on a bank debt, could have a long term burden, since the tenure ranges from 10 to 15 years. The method always puts pressure on the people, on their social life and normal spendings. They always have a fear of job loss and sudden huge spending,

such

as medical expenses, have very high impact. As an example, Ram got a job as a Software engineer with a good package and immediately, he took an apartment on a bank loan. It was all going well, until his mother got cancer. He started spending a slice of his income on her treatment, so he could not meet out his routine expenses and had to

return the apartment

Suggestion

return to the apartment

. To make the matter even worse, the payment he did for 4 years of the tenure, not considered, while taking over. To taken into consideration of both the scenario, still

i

refers to the speaker or writer

I

feel owning a shack is the best option. It has several advantages,

such

as future savings, modify as per our convenience and rent equivalent to monthly instalments, even there are few disadvantages.