Housing is one of the most important with expense in a person’s life. Having a roof above your head gives a sense of stability to people. Once you get a stable stay, it is very easy to focus on different priorities in life such as finding a job with better pay and helping the kids with the school work. A proper housing gives them a person a sense of certainty. Having a home means, you don’t have to pay any rent checks anymore. And you do not have to keep yourself away from other basic necessities.
What is “affordable housing”?
Affordable housing is always misunderstood. Often people think affordable housing refers to the house which is there for helping people with low-incomes and vulnerable. But that is not the case, this categorization of deserving and undeserving is highly wrong.
Let’s clear some of the myths about affordable housing.
Affordable housing: It doesn’t only mean the projects under construction. If you are able saving 30%of the post-tax on your housing then it is considered to be affordable housing. The houses with more than 30% tax are considered to be cost burdened. These people may have difficulties in affording other necessities like food, transportation, proper clothing, and medical facilities. According to a survey, there are people who spend more than 50 percent of their income on housing. Affordable housing is the one with a two-bedroom apartment at a fair price. Housing development Auckland is one such place where various projects are going on.
People who cannot afford cities should move: this is another myth which people have been carrying around. This is not the true notion, everyone has a right to choose their homes and the place where they want to stay. Affordable homes Auckland provides housing to everyone who deserves.
Affordable housing requires less budget: this fact is not at all true. The cost of building affordable housing is more than high rise buildings. The problem here is that people with low incomes cannot afford this because of their income issues. Hence making affordable housing proves to be expensive.
These are some of the points which play a major role in affordable housing.
Why is affordable housing the best investment?
People with low wages often have to stay in their rented flat throughout their lifetime. But making an investment in housing can help them get rid of the rent payment every month. This is a one-time investment which can prove to be very beneficial in the future. For example, in case if you planning to sell your house because of financial issues you are not going to get any loss.
The property prices are increasing day by day. People who are investing in real estate are considered to be the richest. This is because the real estate market has been flourishing over the past few years. So this proves to be one of the reasons why affordable housing is a good investment.
Also as the world is growing the expensiveness is also on its peak. So having a house can give you a chance of exploring other luxuries of life.
Advantages of Affordable housing
Rent control: one of the reasons why affordable housing is a good deal is because it helps in rent control. Once you get your own house you don’t have to worry about the monthly rent which you used to pay. Rent have been continuously increasing day by day. So investing one time at a house can save you a lot of money.
Good investment for the future: Having your own house is a good thing. In future when you face a financial crisis and need extra money then the house can be sold. This would fetch some money which can be used in the time of need.
Higher house value: With the passing time the value for the house will always increase. Hence it would never bring a loss. Any point of time if you feel like moving or selling the house you can just contact a broker and do so. The selling price will obviously give you some extra profit.
Hence these are some of the benefits of an affordable house. These houses also help in maintaining the regular budget.