In some countries owning a home rather than renting one is considered very important. Why might this be the case? Is this a positive or negative development?

In some countries , purchasing a

house

rather than renting one is very important for

people

because a self-owned

house

is a depiction of social status , comfort and security.

However

, I believe it depends on the situation of the person. In various countries, owning a

house

is related to a high status in

the

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society.

For instance

, if a person who is owning a

house

such

as flats, bungalows ,

then

everyone in the society believes that he is rich. Most of them like decorating their own home because they consider it as a heaven. One of the main reasons to own a property

,

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is that we can avoid paying rent to landlords. To illustrate ,

people

who cannot afford their own

house

, they prefer to rent one and due to

this

fact, they have to pay money to them. In my opinion, buying a home depends upon various circumstances.

For instance

,

people

who are wealthy can own a

house

immediately as they do not have to pay loans, but for middle-class families who cannot afford to pay the money at once, have to apply for loans.

Additionally

, a lot of interest is deducted from their salary and they

also

have to pay electricity and maintenance costs and due to

this

fact, their whole savings sum up to zero. To conclude , it is good to have a property but it depends upon the situation. For

people

who are already living a luxurious life can own a

house

immediately but,

on the other hand

, it is extremely difficult for a common person.