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In some countries, owning a home rather than renting one is very important for people. Why might this be the case?

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These days, it is believed, that in a number of countries it is better to own a home, rather than lease one, as it might be beneficial for the resident. Owning a house in certain locations can be considered a lifetime investment with a guaranteed return, rather than spending a huge sum of money on paying rent. Buying a residence or renting one can sure be a confusing question for the public.
However
, what society fears, are the high prices of real estate and do not dare to buy houses on loans as they think they will be paying the EMIs for a long period of 15-20 or so. but what most folks do not understand is buying a housing property is a form of investment as well. Most people lease houses for years at a stretch and when that ends they are once again out for residence hunting.
However
,
this
 can be avoided by owning a house.
Also
, the tariffs can be higher than the monthly instalments. Rents these days are getting over the top. In cities like Mumbai and, Hyderabad people pay a tariff of almost 100 thousand a month for 1 or 2 BHK apartments in the heart of the city. But what most people do not understand is,
instead
 of paying almost 100 thousand rupees a month they can buy their own residence in the heart of the city on loans provided by the banks with monthly instalments of nearly 30 thousand rupees which are almost 1/3 of the rent they pay. The banks too provide a tenure of 20 years in housing loans.
In addition
, owning a house means having a home, and having their own personal space.
Therefore
, in my opinion, one should definitely buy a residential property rather than
paying
Wrong verb form
pay
show examples
 rent. As it is a lifelong investment and
also
 can have an emotional value attached to it.
Submitted by jeetkacha13 on

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