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

In most nations, owning an apartment

instead

of renting one is very vital for the citizens. I think

this

is a positive situation. In many countries, having a

house

of your own is very necessary because it enables the citizens to save more money. Renting

Add an article

an

show examples

accommodation is very expensive and

people

tend to work all day to save for the monthly bill of their shelters. More so, when an individual owns a

house

he or she will be able to save more funds that can be channelled into other areas of their life.

For instance

, in 2019, a journal in England reported that citizens who bought a

house

advanced in career development and invest more than families who still live in a hired facilities.

Hence

, owning a residence will enable

people

to invest and grow in other aspects of life.

Furthermore

, having a permanent home is very vital because it can be used to access loans.

However

soft loans can be given to

people

who do not have landed properties, but over the years individuals with a valid document of property ownership can collect a huge amount of money from banks and other cooperation organizations.

In addition

,

house

owners are being prioritized in areas that concern

the

Correct article usage

apply

show examples

borrowing

the

Correct article usage

apply

show examples

large sums of cash.

For example

, in the United States of America, the majority of the students in college who wanted to have access to students welfare package needed to show evidence of homeownership from their parents which could serve as collateral.

Thus

, having accommodation can serve as a surety to help

people

secure gigantic funds. In conclusion, a permanent residence is very paramount as it helps

people

save more and

also

stands in as collateral.