People in many parts of the world firmly believe that having physical possession of a
house
is a mandatory task for an adult. It is often thought to be an
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idea to rent an apartment rather than buy a
house
. In
this
essay, I will discuss the advantages of
house
ownership and give my opinion on the topic.
Firstly
, buying a
house
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.
For example
, if you buy a
house
or a land plot in district 3 of Ho Chi Minh city for 20 billion
, the value of the
property
should rise to approximately 40 billion VNDs in the
next
decade. It can be extremely pricy at the start, but considering the foreseen profit values, the cost can be worth the wait.
Secondly
, owning a
house
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
house
to preferences, a benefit that can be superior to
renters
, who do not have
such
privileges.
For instance
,
house
owners can upgrade their homes with decorations, and build basements or garages with ease, while
renters
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
property
except for them.
On the contrary
, many home
renters
would argue that it would be more efficient and cost-saving to pay monthly for accommodation.
However
, what
this
argument fails to consider is that renting fees can increase anytime, but not for
house
mortgages.
Property
owners pay a fixed-rate mortgage - the same monthly amount for principal and interest until the mortgage is paid in full. Added fees
such
as homeowner’s insurance or
property
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
renters
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
house
creates profits in the future and reassures mental benefits to the buyers.