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How to determine between renting and buying a home

It is cheap renting a home as agreed by some school of thought. Renters escape the stress involved in building a house. The Landlord goes through a lot of stress and expenses before the building is completed.

The Landlord pays the surveyor for the site visitation and production of survey plan, after dumping a huge some of money into the pocket of the property owner, for buying of the land.

When the survey plan is made, the client marches into the office of an Architect, pay in another bulk sum of money for the building design. He then pays for the structural drawing as well as the electrical and mechanical drawings.

When every thing about the drawing is down, he forwards another cash into the save of the town planners for home approval. These are just the beginning.

He pays the engineer for the supervision of site, pays the labor cost, and supplies the working materials from the stage of: site clearance, excavation, foundation, even up to the roofing.

Some thousands of money go into the ground before getting to the stage of German floor (D.P.C level). Sometimes, clients go bankrupt while some go borrowing to get to the stage of final finishing. Some abandon their sites as a result of financial pressure, and the efforts made from the starting to that present stage are black painted.

No wonder why people prefer renting, they don't want to risk anything. Some are even scared that a house might collapse one day, maybe when a disaster strikes. They believe "it's cheaper to rent than to buy".

All these are absolutely negative thoughts. It is cheap to rent a home but it's wise "buying a home". The risk the Landlord took, has a forever reward.

He enjoys the freedom and comfort of his property. No payment of house rent, no more embarrassment for any reason by a so-called landlord.

The wages of land is rent. A homeowner can rent his home out and will be receiving the house rent: monthly, yearly and in some cases daily or weekly. In a few time, he recovers the money spent in building his home. In more years to come, his profit will be unimaginable; still, his property is unshakable.

Are you scared about: property lost, damages or any form of theft? An insured homeowner has nothing to worry about. The insurance company, based on damages, pays him. They will take good care of your problem, you will have every thing back in a few time.

Like a president to a country, the landlord is the Governor of the home. He keeps rules and regulations, which the tenants obey. Because he has the power to decide how he wants his house to be; he is the policy maker.

A tenant is always in the bondage of debt to the landlord, nowhere to run unless you decide to live in a river. No matter how bad the day is, you might decide to stop feeding, but can't decide to stop paying house rent, because you can't decide to stop living.

Landlords are never broke, he is sure of his money. The nearer the month, the happier the landlord, and the more scared the tenant becomes (An interview with Mrs. Pauline .Chioma). On a carpet level, the earlier you buy a home, the more better and comfortable your life becomes. You are entitled to your wage as the landlord.

Learn more about this author, Obinna Nwankwo.
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