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

In many nations around the world, people prefer buying a house rather than living on rent for various reasons probably privacy and family size.

Although

, some individuals argue

otherwise

,

however

, I believe that the merits of having private properties far supersede the perceived demerits

thereafter

. A lot of individuals want to have access to personal belongings so as to have full control over them.

As a result

, necessitates the buying or building of a residential apartment.

For example

, most landlords impose strict rules on their rentals like having a limited space to park and closing the gate earlier in the evenings that are not convenient for the tenant.

Thus

it is necessary to have private accommodation.

Furthermore

, owning a building is cheaper for a large household.

For instance

, immediate and extended family members staying together pay lesser bills compared to individual members staying separately.

Therefore

more money is saved. There are numerous benefits of purchasing a home which shall be highlighted below.

Firstly

, it makes one acquire properties and wealth.

Accordingly

, house owners are able to secure investment from

such

projects. To

further

illustrate, apartments can be put on rent to provide a source of extra income for the owner.

Hence

they are able to improve their financial state.

Lastly

, building a residential home encourage good management skills.

Consequently

, the individual is exposed to how to manage earnings wisely, helping to develop saving habits. In conclusion, purchasing homes rather than hiring one due to personal needs is a common belief shared by many persons which I completely agree with as it can improve financial stability and saving habits.