Having their own space - a house they can call their own - is a dream of many. Regardless of where they live, people always want to have a place that is truly theirs. It's a place where they have freedom, and in a sense, kings and queens of their own personal little domain.   Many people see the renting lifestyle as a bit limited, considering that you always have to consult and ask permission from the owners or landlord of the house you are renting before being able to do any major changes.   Owning a house then, is the solution, but it is one that very few can afford to pay for outright. That is why there exists housing loans, which is a way for people to be able to borrow money for them to buy their own house.   As long as you can afford it, taking a loan for your house is a good choice. Be sure though, to always only loan what you can afford to pay. It may seem to be a good idea to buy all the expensive and luxuries for your home, since you can pay for it later and in instalments, but the more practical choice would be to make to with as little as possible. Loans have interest rates in payments, so the larger you borrow, the bigger interest you'll have to pay.