In some countries, owning a home rather than renting one is very important for people

Owning a
home
is everybody’s dream regardless of to which
class
he or she belongs to, whether he or she belongs to a middle
class
, lower middle
class
. So, owning a
home
has always been important for
people
all the time. In my opinion,
this
is a positive situation, because it eases the financial burden on the
people
once they have their own
home
. If we analyze today’s world it has become much more important than before, because the cost of renting apartments and houses has gone up and it’s becoming very difficult day by day for
people
to meet their livelihood expenses. In many countries, the government gives support in the form of loans, mortgages so that
people
can buy their own homes. Especially after the covid-19 pandemic
people
ability to pay their house rents have declined sharply because a large number of
people
have lost their jobs, and
this
is not only with these
people
but
also
with those who run their own business. Another reason why
people
are interested more in buying a
home
rather than renting one is that
people
Want to invest their money in the housing
sector
to achieve higher yields in the future. The housing
sector
is the backbone of the economy in many countries,
for example
in Pakistan real estate is an evergreen, and ever-growing
sector
, where a growing number of
people
are investing money especially the Pakistanis who are living abroad. The government in Pakistan has
also
started different programs for the housing
sector
so that
people
who belong to the lower middle
class
can buy their own
home
or apartment by paying a small amount of monthly instalment over a period of time. So, to sum up, Owning a
home
is very important for everybody in today’s world because the cost of other livelihood have been increased exponentially and
people
are unable to pay their rents. some governments are
also
helping
people
get their own homes like in Pakistan.
Submitted by bilalahmadkw on

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