Homes be Made more Affordable?

Homes are always sweet whether it’s your own home or you are living in a rented house! The reason is simple as well. It provides you the shelter that your heart yearns for. It has the love that nurtures and nourishes you and your family and helps all of you to grow physically, mentally, emotionally and economically. But in this, how important is it for you to have your own home or does it make a tentative difference if it’s a rented house. Does it really have a bearing on you and your family’s well being? Here we have the answers.

Affordable-Homes-in-Bangalore

It Instills more Stability

A house of your own helps in many ways as it provides extra security and stability to the family and keeps the children away from any insecurity whatsoever. Not only does it fetch the basic human need, but it also has a huge contribution to the well being of the parents and the children. Research studies conducted has revealed that children living in their own houses perform better in school and there are lesser chances of experiencing a disruption in education due to unwanted shifting of accommodation.

Lesser Stress Levels

An affordable home that is their own reduces stress levels of the family and studies indicate that it leads to good health, both physical and mental. A house of their own frees up budgets for the family to spend on other essentials like food and health care which provides better nutrition. A house of one’s own reduces the stress arising out of the risk of foreclosure and eviction which in turn renders more security and leads to lesser physical and mental health problems which result into reduced absenteeism at work.

Helps Economic Improvement

Affordable homes are instrumental in making the community economically stronger. Availability of affordable homes in a particular city would attract employees and workers which can support the workforce as they can also live near their workplaces. It works as a competitive advantage for the employers and acts as an economic booster too. Not only that, as the employees have to commute shorter distances they can inevitably spend more quality time with their families and on the other hand the community at large benefits from a reduction in air pollution, traffic congestion, and expenditure on transports.

affordable-housing-in-Bangalore

More Asset Generation

More affordable homes for all age groups and sections of society mean more affordability for more people to purchase their own homes. There would be more options available to single family homes, rental housing, duplex houses, homes for senior citizens and all others. This would ensure more opportunities for all groups of people to improve on their economic conditions and contribute to the larger community.  

Although home ownership is the dream of all but renting apartments may be a solution as per the situation in many cases. Many people rent because they have to, as they have to relocate frequently. For low and moderate income families rental homes are a more realistic option but affordable homes or affordable housing can create new frontiers of hopes for them to own homes of their own.

As the businesses globalize and migrants from different cities often settle in different areas of the country with rapid industrialization, the need for housing becomes more poignant. In this era of change where there are frequent economic upheavals, affordable housing can definitely be an economic booster and strengthen the economy fourfold.  

Key Takeaways of Homes be Made more Affordable?

 

  • An affordable home that is your own reduces stress levels of the family and studies indicate that it leads to good health, both physical and mental.
  • More affordable homes for all age groups and sections of society would ensure more opportunities for all groups of people to improve on their economic conditions and contribute to the larger community. 
  • For low and moderate income families rental homes are a more realistic option but affordable homes or affordable housing can create new frontiers of hopes for them to own homes of their own.

 

 

  • In this era of change where there are frequent economic upheavals, affordable housing can definitely be an economic booster and strengthen the economy fourfold.

READ ALSO: Looking for Properties in Bangalore – Where to Invest?

 

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