Should we rent or buy our homes? Under Ceteris Paribus, I prefer buying. Specifically In Tanzania, researches show that living in your own house is a priority and dream for every one. The biggest challenge of buying/owning a home is that, it needs huge capital at once.
WHAT SHOULD BE DONE TO HELP PEOPLE HAVE THIER OWN HOMES:
- Increasing Awareness of mortgage financing through provision of mortgage education.
- Residential house mortgage promotion.
- Reduced interest rates for mortgages
- Reduced bureaucracy in mortgage financing process
- Special loan house allowances from the government and private institutions to their Employees.
- Tax benefits for buying residential houses, so as to reduce house prices.
What are your views? Do give us your feedback by sending an email.