Why building your own home is better than paying rent

Posted by Felix Okoli on Monday July 14, 2014 at 12:6:36:

Most a times, people prefer to stay in other people’s houses as tenants and pay house rents monthly or yearly, this is because it is much more affordable to pay house rents than to out rightly build a new house, but you find out that in the long run, it is better to build your own personal house, than to rent a house and pay monthly or yearly rent.

Let’s look at some of the reasons why it is better to better to build a personal house than to live in another person’s house and pay rents.

- It saves money In The Long Run: In as much as it is expensive to out rightly build a house, but when you calculated the amount you pay on rent yearly, and multiply it by 5 years rent, you find out that it is more than the amount that will be needed to build a new house, and if you don’t build a personal house, you will continue to pay rents, so it is much cheaper to out rightly build a personal house.

- It gives You more freedom: Most landlords place some restrictions on their tenants on what they can do and what they cannot do inside the compound. For instance, some landlords insist that their tenants are meant to come back home at latest 10.00 PM, but if it is your personal house, such restriction will not be in existence.

- It earns you Income: As a house owner, you can rent out some of the rooms you are not using to tenants to make a decent income.