In some countries owning a home rather 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, homeownership is considered to be of great significance. This essay discusses the reasons for this and why I believe it brings merits.

People who are able to buy a
house
are considered to be successful in some parts of the world. It goes without saying, that people are definitely judged on the basis of their spending power
therefore
they prefer to buy rather than rent a place.
This
essay will cover the reasons for
this
and the advantages of owning a home. In other countries, it is believed that whosoever is able to purchase a residence has a stable job and earns a lot of money because the person must have saved to pay the instalments or bulk amount to secure a
house
. Due to
this
, society looks up to them and respects them. It has
also
been observed that parents of a girl are
also
looking for a groom who has his own apartment and their daughter would live happily after marriage.
Moreover
, buying a place to live has more advantages than renting a one because it gives a sense of security that despite any circumstances you will always have a roof over your head.
For instance
, during covid people who had their own houses did not fear getting evicted despite losing their jobs.
Initially
, the instalments might be a little burdensome when compared to renting a place but it allows you to own a home which will act as a guarantee for your retirement. To conclude, there might be some advantages of renting a
house
that one does not have to worry about savings but purchasing a
house
helps one to earn respect in the society and acts as a security for the future.
Submitted by biswal.akankshya on

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