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The Reason why you should own your House.

Shelter is one of the three basic human need. Unfortunately, there are some people that do not have the privilege of a having roof over their head. However, there are various international organizations that are trying to ensure that everyone has a roof above their heads. In the modern world, people have the option of either renting a home or buying one. The population of people living in rentals in the developing countries is very high. This is as opposed to the developed world where we have very many people owning their own homes. Citizens are being encouraged to own homes by their governments through the measures set by the governments. For instance, the lowering of the interest rates on the mortgage loans has the effect of encouraging people to go for the mortgage loans. The reason why the governments are doing this is because they know the advantages of owning a home.

Owning a house has a lot of advantages. These are the benefits that you cannot enjoy if you rent. Some of these advantages will be discussed below. One of the benefits of owning a home is that you can predict your monthly housing payment. You can do this for up to thirty years. This is unlike renting where a landlord can raise the rent when the lease expires. Therefore, with owning a home, you will not worry about the rent fluctuating. The tax benefits are the other good thing about owning a home. Majority of the expenses associated with owning a home are tax deductible. For instance property taxes and accounting costs. The largest deduction is generally the interest you pay for the mortgage loan.

Homeowners also, enjoy the appreciation benefits of the house. A house is one of the most valuable assets. Owning home comes with financial stability. The constant growth of the real estate makes the house one of the biggest investment that you can ever make. The value of a property increases depending on how long you plan to live in the house and the market conditions. Owning a home also gives one the freedom of to make the modifications that they may desire. You do not have to ask anybody for permission for any changes made to the house.

There is also the issue of privacy. Very few people do not mind if their personal lives are known to everyone. There are landlords who use inferior materials to construct houses. Some materials used like low-quality plywood and drywall are incapable of blocking sound. This implies that your privacy is not guaranteed. Homeowners do not have such matters to worry about. To improve on privacy, you can even construct a fence.

And finally, and buying a home is cheaper in the long run than renting one. Owning home comes with the very many advantages with a few mentioned above.

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