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Money Matters

I suppose that the most formidable financial burden which the ordinary citizen has to face during life is that of setting up home. People seem to get married earlier nowadays, but, nevertheless, I think it is true to say that, in general, they now set up their permanent homes later than they used to. And that is mainly because the cost of setting up house has rocketed during the last half-century or so. Another thing that has altered during those fifty years is the tremendous swing over from renting a house to buying one despite the hundreds of thousands of houses which have been built by local authorities for renting.

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Edward Leader

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Paṇam mukkiyam



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So we come to the first decision that has to be made by people who intend to set up home-to rent or to buy? Now,” the first thing about this is that as long as you go on paying out rent, you’ve nothing tangible to show for it-you’re not building up an asset, and you can’t get any income-tax allow- ance on the rent you pay. The second thing is that it is far easier, in general, to find a house to buy than one to rent. No. one has to be reminded of the long queues for council houses; even after all the building that’s been going on. And as for houses to rent from private landlords, they are very hard. indeed to come by. Even a couple of rooms aren’t easy to find. Who wants to be in rooms all their lives, anyway, with not garden for the children to play in and, indeed, with the possibility that the landlord will give you notice to quit as soon as the family starts to come along? I’m quite convinced of the social advantage of deciding, quite early, to buy a house. But what about the financial aspect of the question?


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