People tend to more likely buying a residential property instead of renting one in some regions. The reasons can be both economically, emotionally and other factors. I personally believe this is a positive situation

In general,

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more favourite in buying a mansion out of economical considerations. Including the population who bought the residence for their own use or investment.

For instance

, people may find it is more beneficial for them to buy a dwelling rather than renting one because the month’s mortgage or the rent can be approximately the same.

Furthermore

, the amount of effort or time of renovation and decoration should

also

be counted into the cost of owning or renting a living place. Other than that, some people intend to make a profit by investing their money into the housing business, especially in some world-class cities where the house price rockets up rapidly,

such

as New York, London and Shanghai. Whereas,

this

may lead to a problem that more and more young people are not able to afford to buy a house in those cities. As for the emotional benefits for folk owning a condo in terms of having a big sense of belonging and less stress. Compare to those who rent a dwelling, the ones who bought a home tend to live in the neighbourhood for a longer period of time and they do not have concerns about being evicted by the landlord and moving around as tenants, which can cause stress and affect the quality of life.

As a result

, they are more likely to develop a bond with their neighbours and earn a good reputation in the community. To conclude, the advantages of owning a house is far more than that of renting one in terms of great financial opportunities and personal emotional benefits.