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

House is a primary need for any individual or family and it should be affordable. Some have,

therefore

, suggested purchasing a house

instead

of buying it.

This

essay will discuss why people opt for

this

and will explain my own view that it is advantageous. Owning a living space have many benefits, one of which is the financial benefit. Since, in many countries, interest rates are very less, a person ends up paying less mortgage than their rent and will have a home of their own. Canada,

for instance

, offers home loans at the interest rate of 2%, which is affordable for most of its citizens.

This

step is worthful though, at the time of purchase, it requires a lot of money to be available as a down payment. In my view, yes, it is going to be beneficial in long term. As people have a tendency to manage their variable expenses, if they purchase an apartment, they will easily afford it.

Hence

, the required down payment can be managed easily. At the end of 20 years,

for example

, people paying rent will have nothing in hand but others who have bought an apartment in past will have their own place to live

although

they struggled a bit at the initial stage. In conclusion, indeed a house is our basic necessity for living, it should be purchased not to be rented. In my view, buying will have positive outcomes as they will have the property in their name and

on the other hand

, the lodgers had paid a large sum of money to others, which will not be of any use to them.