Why Every Leo needs to own a house ?

Why I prefer to Buy a house over rent ? This is a very personal question but an important one as well. The reason for my choosing buying a house over renting is as follows.

The life of a person is like that of a lion in a jungle. He/She has to learn to hunt every day to feed himself and his/her family. He/she has to guard his territory and needs his/her cave to retire.

That being said a valid question arises why buy a cave (House) ?

Very true one can rent a house and spend his rest of the life in it. This way you keep paying the rent and the land owner has to look after the up keep and maintenance. So far so good however my reality is that I live in a country where I get zero old age benefits. I belong to the middle class which is mostly overlooked by the govt. when designing the benefits. yet I am the tax paying citizen who gets zero social security now nor are there any old age benefits to speak of.

What does the lion do when he is old ?

He cannot hunt or work in a office. Without a job there is no money to pay the rent. Besides I have been on rent for many years. I have seen how house owners can be whimsical. I have often seen that house owners do not prefer old people as tenants specially if they have no fixed source of income to pay the rent,

So where does it leave me ?

Instead of of fending for myself on all fronts when I am old and no where to go I would rather save some money and invest in a property that I can call my home. Buying a house would save me from paying a rent to some one else. The rent that I pay can be used to pay the EMI of the house.

That being said I find that so many people buy a house not thinking about the security that it would provide but see that as a tax saving tool. The loan taken for buying a house is a great opportunity to save on the income tax. As per a lot of tax consultants this method can be used to reduce the income tax that you have to pay and even lower the tax slab applicable to you as the loan amount gets deducted from your gross salary.

I am setting my self for great capital appreciation

Property prices normally go up over time mostly because the demand outstrips the supply. This way what I pay for a property today would appreciate in value over time making it a great investment and opportunity to grow my wealth.

My final thoughts

All these factors make mew feel I would be better off buying a house instead of renting one.

Where is the money to buy a house ?

crypto and blockchains come to the financial rescue An interesting question I would say and since I am trying to find a solution for every leo on leofinance.io that is a community of hodlers and stakers I am inclined to look at the earning opportunities presented at the defi platform https://cubdefi.com/

Despite the bear market these are pretty attractive APY's One could invest here and take some profits off the table to pay the loan for a home. This can be dangerous if the markets go the other way and the cub prices decrease. however looking at how cub prices are firming up I am inclined to think that this strategy can help me pay for the EMI's for a house if played right.

Share your views

What are your views about this topic. How is the housing prices in your country/ city right now? Have they come down post the pandemic ?

Taking some profits off is a good strategy

Taking some profits at regular intervals is a good hedge for cyclic asset classes like crypto.

Where would I put my profits

Perhaps to help me pay for a house or at least some part of the EMI's with crypto's would be a good thing to do.

Do share your views

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