An office boy whose parents had bought a small room in the slum, two decades back, now introduces himself as a proud owner of a property in the city. His boss, who came from a well to do family in a village, never thought it necessary to buying house in the city– buying house in the city was at the bottom of his priority list. Until a decade back a person gained respect for his compelling profile; for his hefty package and his team leadership. Read about the housemaids in Cities in this post.
Now the story is different. The first question to an new apointee is whether he/she lives in ‘own house’ or in ‘rented house’. If the person forgot buying house in the City then that person is in the list of the have-nots. No matter how much rent one pays or how palatial the residence, as long as the person has not “invested in a house” and “secured the future” that person is a failure. On the other hand if the person was wise enough for buying house somewhere in the city then they belong to the land-owning well settled class. This year’s budget is kind of a redeemer for home loan borrowers. It’s a bonanza for those who thought about buying house at a later period in their life. And now Lo and Behold! The property price has sky rocketed may be 100 times more!………..Not exaggerating! It is the truth! In one residential area some people bought plots for Rs 2 lakh, forty years back. They built single storeyed houses for Rs 5 lakh, and gradually increased the number of floors to 3. As of now the cost of each floor is more than Rs 1 crore. So the aggregate price of the property has increased 100-200%.
Apart from the mathematics, property price rise has brought about changes in the social status of an individual. If you belong to the property owning class (through inheritance or by well-planned investment in property done a decade back) then you are lucky to be part of the class of the haves. If you forgot to catch the investment train, until now, the budget has brought some hope for the have-nots to enter the class of the haves. Given below is some of the reasons why buying house improves lifestyle in many ways:
A Basic Necessity is taken care
By buying house one of the three basic necessities of life, makan (shelter), is taken care. Now one has to worry only about roti (food) and kapada (clothe).
You get a good alliance
|“who is traumatized more – the house owner or the tenant!”|
You don’t need to be at the mercy of the house owner
It’s an investment