People in many parts of the world firmly believe that having physical possession of a
is a mandatory task for an adult. It is often thought to be an
unfavorableChange the spelling
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idea to rent an apartment rather than buy a
. In
essay, I will discuss the advantages of
ownership and give my opinion on the topic.
, buying a
at the start can be considered to be a long-term investment. In these days and ages, the price of physical properties can rise exponentially due to the increase in current market prices and livelihood incomes.
, if you buy a
or a land plot in district 3 of Ho Chi Minh city for 20 billion
, the value of the
should rise to approximately 40 billion VNDs in the
decade. It can be extremely pricy at the start, but considering the foreseen profit values, the cost can be worth the wait.
, owning a
can ease the mental aspects of those who are seeking to settle down with their family. With the reassurance of living in the comfort of your home, owners do not need to worry about the fear of being evicted by the landlord at any time. Buyers are free to renovate the
to preferences, a benefit that can be superior to
, who do not have
privileges.
,
owners can upgrade their homes with decorations, and build basements or garages with ease, while
need permission from landlords just to put up more cupboards or replace their sinks. The upgrades can cost more money, but homeowners can rest their minds knowing no one is in control of their
except for them.
, many home
would argue that it would be more efficient and cost-saving to pay monthly for accommodation.
, what
argument fails to consider is that renting fees can increase anytime, but not for
mortgages.
owners pay a fixed-rate mortgage - the same monthly amount for principal and interest until the mortgage is paid in full. Added fees
as homeowner’s insurance or
taxes can fluctuate and change monthly payments, but that does not happen as often as rent increases. Monthly rent payments can add up at every annual lease renewal, and it can put
at disadvantage in the future.
To conclude, it can be considered that buying a home is a superior choice to renting one. The choice of owning a
creates profits in the future and reassures mental benefits to the buyers.