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?

In some countries and cultures, there is a great emphasis on the importance of owning a home compared to living temporarily at a rental building.

Moreover

,

this

reasoning not only has cultural influence but

also

a reasonable financial point of view.

This

essay will discuss the topic in-depth and explain why I support

this

view. Many older generations expressed their concern to the younger people to own a place of their own.

This

mindset might be brought by the cultural influence where in the past, a house represents a commitment to the community and the social-economic status.

Moreover

, a permanent building,

such

as a house

also

become something that commonly passed down from one generation to the

next

.

For example

, in Semarang, most of the housings are originally owned by their grandparents.

Thus

, the elders have a long-term view of the ownership of their dwelling place.

Furthermore

, homeownership mindset applicable to today’s generation as well. Even though the community grows to be more independent,

thus

lack of family attachment, owning a permanent place to settle is equally important from the financial perspective. As the young generations have enough energy to work, it is important to note that in the future they might have to retire and will not be able to earn as much money.

Furthermore

, they can opt to become a rental owner. In

this

way, they will have incoming funds without having to spend their energy as a worker.

For instance

, in Australia, a lot of homeowners, age 65 years old and above, rent a room in their residence for international students. So,

besides

the monthly support received from their superannuation, they

also

have an earning from the room rental. In conclusion, the encouragement to own a permanent residence might seem outdated.

However

, there is a modern approach that the youths have to consider with forward-thinking. Ageing is an unavoidable reality that everyone eventually has to face and one of the results is the loss of the source of income due to biological limitations.

Thus

, renting one of the rooms can be a great solution to have regular earning. The young people should not reject the advice from the olden days but to have an open mind and think about the coming days.