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?

People in many parts of the world firmly believe that having physical possession of a

house

is a mandatory task for an adult. It is often thought to be an

unfavorable

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unfavourable

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idea to rent an apartment rather than buy a

house

. In

this

essay, I will discuss the advantages of

house

ownership and give my opinion on the topic.

Firstly

, buying a

house

at the start can be considered to be a long-term investment. In these days and ages, the price of physical properties can rise exponentially due to the increase in current market prices and livelihood incomes.

For example

, if you buy a

house

or a land plot in district 3 of Ho Chi Minh city for 20 billion

VNDs

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VADs

, the value of the

property

should rise to approximately 40 billion VNDs in the

next

decade. It can be extremely pricy at the start, but considering the foreseen profit values, the cost can be worth the wait.

Secondly

, owning a

house

can ease the mental aspects of those who are seeking to settle down with their family. With the reassurance of living in the comfort of your home, owners do not need to worry about the fear of being evicted by the landlord at any time. Buyers are free to renovate the

house

to preferences, a benefit that can be superior to

renters

, who do not have

such

privileges.

For instance

,

house

owners can upgrade their homes with decorations, and build basements or garages with ease, while

renters

need permission from landlords just to put up more cupboards or replace their sinks. The upgrades can cost more money, but homeowners can rest their minds knowing no one is in control of their

property

except for them.

On the contrary

, many home

renters

would argue that it would be more efficient and cost-saving to pay monthly for accommodation.

However

, what

this

argument fails to consider is that renting fees can increase anytime, but not for

house

mortgages.

Property

owners pay a fixed-rate mortgage - the same monthly amount for principal and interest until the mortgage is paid in full. Added fees

such

as homeowner’s insurance or

property

taxes can fluctuate and change monthly payments, but that does not happen as often as rent increases. Monthly rent payments can add up at every annual lease renewal, and it can put

renters

at disadvantage in the future. To conclude, it can be considered that buying a home is a superior choice to renting one. The choice of owning a

house

creates profits in the future and reassures mental benefits to the buyers.