The biggest asset in today’s world is your own house. Big or small, it is a place where you are secure, comfortable and at peace. We all want to own something we can be proud of, but we cannot always get what we desire. Housing choice is a response to an extremely complex set of economic, social and psychological impulses. For example, if you are looking for a Property in Noida Extension, you will find a wide range of affordable as well as premium houses. So how do you assess your needs?
Income is the potential primary factor and not the price or availability that determines housing affordability. This is the main determinant of the quantity and quality of housing obtained. Affordable housing is housing deemed within the financial means of those with a median household income. To understand affordable housing challenges and assessment, one needs to understand trends and disparities in income and wealth.
For low or middle class, the type of dwelling entirely depends on the wealth they possess. If you have enough wealth then you can have your pick, you can afford timeless luxury in a world where you can spend many cherished moments, a lifetime of comfort surrounded by natural splendor. You can afford a villa near the ocean or high up in the hills. So, we come back to the most important factor on the basis of which you have to make up your mind and assess yourself, that is, your income.
You may buy your home or rent it, but that is not the end of the story, there are expenses beyond this. Before going in for the purchase you have to consider your budget and your income. Next you have to consider that you have bought a place, what are the monthly expenses you will incur? Will you be able to bear these? What about transport, location, are these going to be an added burden? There are a lot of things you have to take into account before signing on the dotted line.
There are lots of projects available in the market, affordable housing by the government and private builders for low income group against luxury villas where every modern facilities and amenities are available at the push of a button. It is for you to assess what suits you and beneficial in the long run. Plan well, think, research, take advice, see what you can comfortably manage in your income and yet save for a rainy day and then take a smart decision.
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