Homes in India. How do we live in India?
In the populous parts of India, most middle class families cannot afford to own their own homes. They choose to live in small blocks of flats and own a room which can fit a small family of 4, rather than buy a house.
Average space would range from 30-40 square metres. There would be a living room, small kitchen and a very tiny bathroom
On the other hand, Indians who can afford to live in their own homes, prefer to buy an empty plot of land and construct their house than buying apartments. They usually build homes in the less populous parts of the country, because the cost of owning a land is less in these areas than in big cities. In such homes, space ranges from 80-200 square metres. Houses will have two floors, 3-4 bedrooms, 1 big kitchen and a small garden.
Apartments are also getting very popular now, because of lack of free land to build houses.
In india, we apply for housing loans while buying/ building a house. Some people buy houses with ready cash, but they are very few and far between.
Since the cost of buying a land is very high, Indian parents help their children with building their future homes. When their kids are at a very young age, parents invest money in a plot of land and start saving for the construction of the home. It is impossible for a young married couple, or a working class professional to build their own house or to buy an apartment. Young Indian women or men have no chance of owning a home at the beginning of their career. Bank loans in India are very tough to obtain. You need to have Your own assets or property as collateral to get a bank loan.
Indian parents who have a daughter, keep a plot of land in reserve for her future. When its the right time for her to get married, they invest all their savings to construct a home in this plot of land. If the future bride has her own house, it is much easier for her to get a very promising husband. The groom and the family would much rather choose a bride who has a house than one without a house.
Even the poorest of people, take great care to make houses, with good materials. Once they have the land, the biggest hurdle is over. Then there is the basic structure, electric wiring, gas installation and water pipe connection. Thank fully we don’t have to insulate our houses like in Europe, since the weather is sunny all around the year and we don’t have winter like in Europe. Houses are built out of concrete, because we have very heavy monsoons. Rains in India can be sometimes very harsh and houses have to be durable to withstand the water pressure. We don’t use gips during construction because it might not withstand the wet, humid temperature. Most of the windows are wooden than plastic. Wooden windows are cheaper in India, because we have access to lot of wood. Most Indian homes have a traditional Indian toilet and one European closet. People as they get older, use the European toilet rather than the traditional ones(due to health reasons)
Meanwhile in Poland an average house has 50 square metres of space. About 90 percent of the polish population own a bank loan. They prefer their own home, and pay the bank a certain sum of money every month, than paying some one rent over many years. Polish people believe that paying some one rent is just throwing away money for nothing. Most bank loans are for a period of 30 years.
Buying home from developers is the most easiest route for many Poles, because they don’t have to worry about owning a piece land and or hire contractors to build the home. People who do construct their own homes, are mostly living in villages where the cost of building a home is much less than in the city. This is a lot similar to how it is India. The major cost of building a house in Poland lies in insulation. Since the weather in winter can reach unto minus 20 degrees. Insulation is a prerequisite for all homes.
Very often young polish couples apply together for Bank loans. Banks are very intent on giving them loans as their financial situation looks very promising Young Polish professionals can be seen buying their own homes when they are 28-30 years old. Single/ divorced Polish women also buy homes and do not have problems in getting a credit by themselves. Banks are intent on giving loans to young professionals. Polish government also gives incentives to young students who want to buy their first home. MDM(mieszkanie dla młodych) is a platform which gives students an easy to pay loan, at very affordable interest rates. This makes it much easier for them to get a bank Loan.
Since i have been renting a room in Wrocław for the past 4 years or more, i have also decided to buy my own house in Poland. Even though the cost of homes in Wrocław is very high, and the cost of paying Your bank loan is same as the rent we pay the landlord each month for a rented home, i think it is worth it to pay for Your own house, than some one else’s. 🙂