Buying a
house
can be beneficial for individuals if they want to save
money
for their later
life
. Paying
rent
for the dwelling is becoming an extra financial pressure for people as the rents are increasing day by day,
whereas
, if you invested in housing you do not have to worry about an additional financial burden. In several countries, buying a home
instead
of paying
rent
for living is essential for individuals. I think, getting rid of the financial pressure of
rent
is the primary reason for
this
and
this
is a positive situation for individuals as it provides a financially free
life
.
First of all, in developing countries, citizens need to save
money
for taking care of their family and for other necessary things, so having an extra financial burden of
rent
for their housing is quite stressful and heavy on their income.
Moreover
, if you live in a rental
house
you have to pay
rent
monthly or even sometimes weekly, and you have to sacrifice a vast
amount
of
money
at the end
of the
month
.
For instance
, in the United States of America, the
rent
of a studio apartment is enormous, so Americans save their hard-earned
money
to buy a
house
for their accommodation.
Furthermore
, if you brought a
house
or an apartment, you need not have to pay every
month
, as
this
purchase is a one-time payment and you do not have to worry about accommodation in your later
life
.
For
this
reason, buying a
house
instead
of renting one is significant for people’s financial
life
.
I think, purchasing a home rather than spending monthly for it has its set of benefits particularly in their financial
life
. An individual have to pay a big
amount
of
money
if they want to buy a
house
;
however
, they do not have to worry about the financial stress
at the end
month
for the rest of their
life
.
For example
, If someone is accommodating in a
house
by paying
rent
monthly for ten years, the
amount
that the individual has to pay will be bigger in comparison to the purchase rate of that
house
ten years ago. One can save a big chunk of
money
at the end
of every
month
.
Hence
, the decision of people for owning a
house
is a beneficial situation for them.
In conclusion, by purchasing a home one can lead a financially pressure-free
life
as well as
save a big
amount
of
money
. for later
life
,
therefore
, it is significant for their
life
.