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

There exists a school of thought that people have a tendency to value the possession of a private residence

instead

of signing leases for a rented house in several particular nations.

This

essay would make an attempt to shed some light on the driving forces behind

this

notion before drawing a reasoned conclusion that it is a dire trend. In the

first

place, the fact that possessing an individual property is more desirable than renting one could be attributed to two compelling/valid reasons. The

first

justification is that the acquisition of a house could be more financially saving in the long run than paying periodic renting payments.

This

could be strengthened by the fact that nowadays numerous real estate companies willingly offer alluring discount interest rates in order to promote faster sales. Another worth mentioning rationale is that people would lead a more independent life and experience greater freedom compared to residing under a rented roof. To provide a supporting example, a house owner need not to concern whether he is disturbing or being disturbed by other tenants. Notwithstanding the aforementioned reasons, I lean towards the idea that

such

perception has several drawbacks. Undoubtedly, to satisfy the inexorable demand for private houses, a mass amount of land has to be cleared and flattened to make room for these residences.

This

practice would take a heavy toll on the environment, effectively, leading to the vast clearance of trees and the natural habitats. On the personal perspective, owning a home is synonymous with staying at a fixed place over a long course. In the event of tragic incidents

such

as extreme weather conditions,

for example

, a typhoon or a catastrophic cyclone, one might shoulder an unbearable financial loss if his or her mansion were heavily damaged or in worst-case scenario obliterated. In conclusion, there are a number of factors enticing people into prioritizing the ownership of a home

instead

of a rental one.

Nevertheless

, I would argue that

this

way of thinking is of unfavourable ramifications.