In some countries, owning a home rather than renting one is very important for people. Why might this be the case? Do you think this is a positive or negative situation?

There is no country in

this

world which is untouched by the phenomenon of buying houses in cities. Some people do not like renting homes because of higher monthly rent and inconvenience to make changes.I firmly believe that having your own property is always better than renting one. In today's world, many people hesitate to rent a home in big cities. They believe that in order to hire a modern apartment, they need to pay a hefty amount as deposit, and it is not a long term investment either. Sometimes, the tenants are forced to pay a higher tariff to their landlord due to tax issues.

Besides

, the monthly apartment tariff can vary in many metropolitan cities, according to the real estate market conditions. To give an ideal example, in the UK, especially in London house rent is a nightmare for many people.

Moreover

, in a hired property, we have some limitations to make changes and decorations as per our wish. We always need to follow the strict rules of the landlord to stay there. While owning a residence in cities has many advantages. Recent studies indicate that it is only likely to accentuate in the coming decades considering the ground realities of the modern world.

Firstly

, it is a solid investment for a family to buy a flat or apartment in cities or villages.

Instead

of paying monthly payment, they can use that money for the mortgage, renovation and redecoration of their own residence.

Secondly

, the owner of the property will get complete freedom to make any changes and modifications.

For example

, landscaping of the garden, modulation of a kitchen, and refurbishing bedrooms according to one's desire.

In addition

, unlike rented dwellings, we get the privacy to keep pets and organise parties in our buildings. To conclude, while it can be argued that too much emphasis is placed on the drawbacks of rented accommodation, my own opinion is that it is always a good idea to invest money to acquire a home.