No Comments

BUYING A HOME, A LEBANESE TRADITION THAT NEEDS TO CHANGE

Rami Yazbek

Customs and traditions play a fundamental role in building and advancing society, but following them without filtering out bad habits can contribute to its decline.

According to tradition, young men should purchase a house at the beginning of their careers. At first glance, the idea seems logical and socially beneficial, but from a professional and economic perspective, we can say that this assumption is wrong.

On the one hand, every individual should benefit from what he chooses to invest in. If a young man purchases a house to live in, he loses the opportunity to invest and benefit from the profit.

The second aspect that pushes an individual to postpone the process of buying a home is giving himself enough time to understand the type of house he wants and needs. This avoids him changing homes which can be costly and causes money loss.

Investing first before freezing the money in apartments and houses opens a new investment horizon for everyone in his profession. This will ultimately help increase the rate of internal investments and increase the rate of residential property rents, which in turn, leads to a rise in real estate investment because of the high profits. This is a profitable equation for all parties, especially the country’s economy.

So, owning a house is important, but not from the beginning, and if we work on concrete economic solutions that are separate from our culture’s bad customs and traditions, then we can bypass all of these obligations in turn.

To find out more details about the investment methods and facilities that are provided by Yazbek Real Estate, contact us on:

T/F: +961 9 93 35 39 M: +961 76 93 39 53

Comments (0)