Rent VS mortgage: What is easier?(I want to be my own landlord! )

There is nothing as frustrating as facing a landlord year in year out. I’m better off paying a loan which I know at the end of the day will finance something that is mine.
 Doreen Umutesi
Doreen Umutesi

There is nothing as frustrating as facing a landlord year in year out. I’m better off paying a loan which I know at the end of the day will finance something that is mine.

I believe even as children, our dream was to have a family and own a beautiful house, car and much more. We grow up, work hard and excelling in school just to acquire the things mentioned above. But a house will always be at the top. In order to build your dream home, either save enough money to build it or grab that mortgage. Renting is just simply stressful.

I was once asked by a landlord to leave his house, not because I didn’t have money to pay rent but because he wanted to move into his house. That disorganised me for months because it meant that I had to have rent for another three months in advance and the broker’s commission at hand to get another house. If I had gotten a mortgage I would not have to go through all that.

Based on Sunny Ntayombya’s opinion “Owning a home in Kigali: Should we even bother?” that was published on November 27, 2013 to the question, should we bother to own a Kigali home my answer is yes. The money spent on paying rent can pay off the mortgage and at the end of the day I have a home to my name even if it’s after probably 20 years. It beats being a tenant all my life. 

The other point is that with the prospects of owning your own house after paying off a mortgage, you can renovate it and use any colour you like. You can change the rooms the way you want, something you can’t do if you’re renting.  Also, the chances of being thrown out of the house are minimal with a mortgage compared to renting.

According to an article “Advantages and Disadvantages of a Mortgage” by Anna Assad A mortgage allows you to purchase a home without having to pay the full price in cash. You usually have to make a down payment, but that amount is only a fraction of the purchase price. Using a mortgage to purchase a home frees up your available income stream for other things, such as remodeling projects.

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