Is It Advisable to Buy a House by Loan?

Nowadays there are more and more people who have purchased or want to purchase houses of their own by using bank loans. What are the reasons for such a phenomenon? Recently, a very influential real estate company has issued a questionnaire to find out why so many people are willing to buy their own houses by means of mortgage loans. The respondents’ answers are as follows: First, the welfare-oriented housing distribution system in our country has come to an end. All the residential housing has been commercialized, so many people have to buy their own houses. They can pay their debts little by little every month. Second, the price of houses commercial housing is rising surprisingly fast, so it is better to buy a house early than late.

Where there are proponents, there are opponents. Some people are unwilling to buy their houses by means of mortgage loans because they have to pay a large portion of their incomes to banks every month if they do so. They think it a great pressure to return 2,000 or 3,000 yuan to the banks. They would rather live in very small houses or very old ones than become “slaves of new houses”.

As far as I am concerned, I do not object to purchasing a new house of my own by loan. My income is very stable though it is not high enough. I can pay debts every month. When it is time for me to live in my new house, I can rent out my old one. The income from this can be used to pay a portion of my total debt every month. Even if I am in financial difficulties, I can sell my old house to relieve my economic pressure. So it is my belief that buying myself a house by loan is advisable.