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

Having ownership of a

house

is considered to more significant by people than renting it, in most of the regions of the world.I totally agree with

this

statement.

This

essay will discuss the possible reasons for people owning a

house

and that it is a positive aspect. There are many reasons for people not renting their

house

.

First

of all,they have an attachment with the

house

as they spent a considerable amount of time with their family.

This

is the place where they have seen their children grown and played with them as well.

For instance

,

although

my parents have shifted to New York, they haven't laid their

house

on rent as they have numerous memories attached to it.

In addition

,some people spent a huge sum of money on decorating their

house

which is expected to be destroyed, if it falls in the hands of the tenant.People who come on rent do not care for the

house

as the original owners do.

This

why people consider to own a

house

rather than renting. I believe

this

a positive situation as the

house

is considered to be a financial asset and it can be used in difficult situations.

Likewise

,if we own a

house

,we can take loans or keep our

house

on a mortgage against a big sum of money in the bank ,which sometimes becomes difficult if the original owners are not residing in the

house

.One clear example is,my uncle has recently been granted an education loan of 20 lakhs for her daughter's higher education from ICICI Bank, with his

house

as security.So owning a

house

can be beneficial in worse situations. To conclude,I believe owning is a

house

is far significant than renting it out because it can be used as an asset in a difficult scenario.

Additionally

,people's attachment with the

house

and their fear of it being destroyed by the tenants don't allow them to rent it.