Information AboutHome Ownership |
| CATEGORIES ABOUT OWNER-OCCUPIER | |
| real estate | |
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ACQUISITION Some homes are constructed by the owners with the intent to occupy. Many are inherited. A large number are purchased, either as new homes from a Real-estate Developer , or as an existing home from a previous Landlord or owner-occupier. Houses are usually the most expensive single purchase an individual or family makes, and often costs at least several times the annual household income. Given the high cost, most individuals do not have enough Saving s on hand to pay the entire amount all at once. In developed countries, Mortgage Loans are available from financial institutions in return for Interest . If the home owner fails to meet the agreed repayment schedule, a Foreclosure may result. GOVERNMENT ASSISTANCE In several government-run home sale programs, such as those run by the United States Department Of Housing And Urban Development , owner-occupants are given preferential consideration on bids offered; some programs such as "Officer Next Door" are limited to certain professions who are required to be owner-occupants. INTERNATIONAL STATISTICS In modern economies, variations in the rate of owner occupancy are a good index of the overall wealth of the nation, at least across time within a nation. Between nations, variations in traditions and in tax regimes make such comparisons hard to interpret. SEE ALSO |
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