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

In certain parts of the world, people put a higher value on owning their own accommodation rather than renting one.

This

essay will examine the possible reasons for

such

behaviour and conclude whether or not it is a positive trend. From my perspective, there are three main aspects that make individuals want to own a property.

First

and foremost, purchasing a house or an apartment provides homeowners with certain freedom tenants might not have. As an example, the ability to make any sort of renovations or listening to music at any volume. Whereas, in the case of renting, people are restricted by rules and regulations made by the landlord.

Additionally

, buying your own place to live gives a certain feeling of self-sufficiency and achievement.

This

results in the owner’s improved mental health as their self-worth increases. And

finally

, owning a house or even an apartment comes with a lift in socio-economic status among colleagues and peers.

This

in turn,

also

benefits psychological well-being. As it has already been mentioned, having your own home have numerous advantages to the owner’s mental state, by providing a sense of independence and freedom.

However

,

besides

that owning an accommodation have financial profits as well. Many people purchase smaller sized apartments and renovate them in order to rent out.

Consequently

, they obtain a passive income and have an additional way of earning. In the final analysis, I firmly believe that owning your own property is a positive trend. As it not only covers the basic need of having a roof above one’s head but is

also

advantageous for mental well-being.

Moreover

, an apartment in ownership ensures supplementary income.