OWNING A HOUSE OR RENTING A HOUSE IN NIGERIA?

Owning a house or renting a house in Nigeria is a big decision that affects your financial status and lifestyle.

it is widely believed that investment builds equity that’s why many people strive towards owning a house.

Moreover, we’ve been shelled by our cultural belief that indicates being a landlord is the proof of happiness and a fulfilled dream.

While renting on the other hand involves moving without paying fine when the rent expires.

It could also mean moving out suddenly if the owner decides to sell his property or raise the rent to more than you can afford.

According to myths, renting a house is associated with “wasting money” every month or every year.

But when you own, you only pay for installment payment and other bills or spend money on a new roof.

Furthermore, if you own a house you won’t be faced with monthly payment rather taxes on property, water services etc.

However, if you rent a house, you are likely to experience increase on rent whenever your rent is due for renewal.

House ownership brings intangible benefits like pride of ownership, peace and stability but what about the cost of ownership?

Do you travel often or work for long hours? If yes, then the dedication that comes with owning a house might be more than you bargain for.

Obviously, there would be project lurking around the house that needs attention. Projects like getting a plumber, repainting etc.

People might even discourage you from renting a house due to certain beliefs, religion, race, marital status etc.

In the same vein, it’s crucial to note that owning a house isn’t as simple as it seems.

Despite the expenses and risk involved in owning or renting a house the most important thing is your comfort.

You also need to consider the advantages and disadvantages of owning or renting a house to figure what suits you best.

Would you rather own or rent a house? Let’s help you make the best decisions for your future.

Visit www.qptservicesltd.com today.

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