Aug. 20, 2012 -
PRLog -- It is the wish of every man to live in his dream house. However many people are not able to fulfil this dream of theirs because of various reasons, and thus either have to rent a house or buy a small cramped house. One of the key reasons for such a happening is the inflation that is being experienced by the economy. The precarious financial conditions have increased the land and property rates. This has reduced the income of the people, and thus they have had to face two choices: to either fall into a debt trap, or not buy the house of their dreams. It is obvious that people prefer the latter option. In order to help residents overcome this dilemma, the government has initiated several housing schemes. One such affordable plan is shared ownership. This scheme allows people to pay only for the portion of the entire property in which they want to live. The additional charges for the other portions don’t have to be paid.
This affordable housing solution divides the property in different shares. These shares are either sold out or rented. Based on their budget, people can opt for the shares that best suit their requirements. This housing solution is known as part buy part rent solution. With the aid of the government, several organisations have initiated schemes that will offer affordable housing for low income families.
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