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?

Having a

house

has an extremely significant role for

people

living in some territories of the world compared to renting a

house

. In

this

essay, I will give the reasons why it is an important and positive situation.

To begin

with, there is a range of reasons why it is important for

people

.

Initially

, providing a need for housing is not only vital in modern times

,

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but

also

it is vital at all times and having a

house

increase the self-esteem of

people

. Equally importantly, in modern times,

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accommodation has a significant place inside domestic expenditure.

That is

to say, the majority of

people

spend an important part of their incomes to provide the need for housing.

Therefore

, having a

house

contributes to its budgets financially.

Finally

, it enables them to relax mentally because living in a

house

rented can make

people

stressful.

On the other hand

, I believe that

this

is a positive situation due to a couple of reasons. The main reason for believing

this

is that having a

house

provides stability in the life of

people

. To put it simply, stability in the family protects the stability in the community. It is

also

possible to say that property owners are better placed to ride out any financial hardship. To take pandemic term when we still live as a clear example; many

people

lost their job because of the pandemic.

People

having their own houses is not evicted due to not being able to pay rent. In conclusion, the main motivations behind homeownership are a desire for a stable family environment.

This

is in my view, highly beneficial as it results in strong social cohesion and financial security.