Introduction
Homeownership is considered of significant importance in several countries across the globe.
Although
the usefulness of Linking Words
such
investment varies a lot based on the type of the economy of the country and the way of obtaining the ownership, it is highly regarded as a status symbol, sometimes as an emblem of financial stability Linking Words
also
- conventional wisdom will almost always recommend anyone to own lands like a house or an apartment. Linking Words
This
essay will shed light on both the bane and boon of owning.
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Body · 1
To commence with, owning an apartment has immense benefits.
Firstly
, it will reduce a lot of stress from a person's monthly bill, because, usually rent is the largest bill someone has to pay. Linking Words
For instance
, a recent study showed more than 50% of the bills paid in a month for a householder is his rent in most megacities across the world. Linking Words
Besides
, owning an apartment Linking Words
also
frees up a big chunk of your salary for investment and other purposes like travelling or shopping. Linking Words
Moreover
, owning a residence means you have higher freedom and control over the way you want to decorate or manage. Because there is no landlord to enforce some unwanted rules to be followed . On top of that, living in one residence for a generation can build significant memories for the family. Linking Words
Nevertheless
, owning a mansion is a status symbol in many cultures; to be seen as having a higher position in the social hierarchy will always come with its own benefits, as well as the property value of a residence can work as a buffer or security during a crisis Linking Words
such
as a medical emergency.
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Body · 2
On the contrary
, purchase Linking Words
also
has its downside too. Studies have shown that often a dweller gets stuck in one city or single location for his entire life just because he bought the estate, Linking Words
hence
, missing out on a plethora of opportunities which he might have been capable of in other places. Linking Words
On the other hand
, sometimes building comes with the burden of huge loans with high interest. Linking Words
For example
, owning a house which will require to be paid in 30 years mortgage may not be a good idea at all.
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Conclusion
In a nutshell, owning a home could offer a lot of benefits including higher social status and financial stabilities, but it is not bulletproof to some demerits.
Therefore
, a thorough analysis is required of an individual's financial condition and the economy of the country before concluding if the purchase will be a bane or boon. I think, regardless of the economy or financial situation, owning will be preferable.Linking Words