To buy a house could be one of the most difficult things for those who live on rent and particularly those who live on rent in metropolitan cities. Those who don’t own a house would feel frustrated as to why they share a huge amount from their salaries with their landlords while there are people who have more than one property in the same city and there are those who are in the property business.
I live in a rented house and this article is not out of frustration but a thought that even though the banks allow for home loans,is it easy for a common man to own a house. I inquired through some sources that I could only get a loan of up to 25, 00,000 INR based on my annual salary. If that is the case I would never be able to get a house in the city I live in i.e. a metropolitan city.
I would have to look for some property in a smaller town or probably a city that has not started development yet and thus I would be able to invest somewhere. Then, I would commitliability towards my landlord as well as that bank from where I got the home loan. To buy a house in the city I live in, is only worthy, or I would lose my entire salary in those commitments.
Those who have their own house won’t probably understand how a person who lives on rent feels like. To live in your own house doesn’t only save huge money but also offers a great deal of satisfaction. In a rented house you would require permission from the landlord even to make smaller changes or if you wanted to invest for the betterment of the house you would consider it a waste of money as after 11 months there goes a revision in the rent agreement. On the other hand in your own house there are none such limitations.
To buy a house could be a game for some, while it is still a tough challenge for many. To offer rooms on rent is no more out of generosity but has become a huge business now.