In some countries owning a home rather than renting one is very important for people. Why might be this case? Do you think this is a positive or negative situation? Write at least 250 words.

Having an apartment which you own is really a blessing for some nations. Some communities feel fortunate to have their own land while others opt for renting it. I believe that living in a self-owned

home

gives a feeling of stability, comfort and security. It depends upon various factors to make a judgment whether it is a positive or negative

situation

which

this

essay will discuss

further

.

Firstly

, the

people

who are living in their

house

don’t have to worry about the landlord nor do they have to pay monthly rent.

Secondly

, for many

people

,

home

is like heaven and

people

spend a lot on interior designers to make their area worth living.

Hence

, they have all freedom to reconstruct their infrastructure if they desire to change it.

Moreover

, other

people

consider their

house

as an investment which they expect to appreciate in value in the future.

For instance

,

people

who have enough money tend to buy more than one land as real estate, purchased with the intention of earning a return either through rental income or by the future resale. All in all, I feel that whether it is a positive or negative

situation

is totally dependent on the financial condition of

people

. For communities who have money to buy a big

house

, it becomes an asset so owning a

house

is a positive

situation

for them.

However

, most middle-class families have a tendency to buy a

house

that is

more than their financial capability. They fund

this

by taking out huge loans and as a consequence of

this

; they end up paying gigantic amounts with high interest on it.

On the other hand

, they have to pay property taxes and insurance which are directly proportional to the area of a

home

,

also

the electricity and maintenance costs get added to their everyday expenses.

Moreover

, if you own any land

then

you can

also

generate income from it by giving it onto rent to the needy.

For example

, you can

also

use that area for different purposes like organizing events, weddings, parties etc. of your family members and entertain others as well. To conclude, I would like to reiterate that owning a

home

becomes a positive

situation

if that individual is able to afford it financially and maintain it with a proper budget.

However

, it could turn into a negative

situation

when one buys it on a loan

that is

way beyond his repaying capacity.