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 a positive or negative situation ?

Owning a property is considered one of the dreams

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many adults all over the world

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and in all cultures. Indeed, there are several reasons why people strive for purchasing houses over renting, whenever

this

is possible. In some cultures,

such

as

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the Western culture, obtaining a private place is considered a sign of maturity and responsibility especially when planning to establish a family.

Moreover

, in other oriental cultures, in order for men to get married, they have to provide an owned dwelling to get accepted by the bride’s parents. Financial-wise, in my opinion, the diverse programs and facilities that

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financial institutions like banks and mediators provide nowadays to finance your dream home, play an effective role in enticing the minds more toward the Real Estate market.

For example

, here in Australia individuals are allowed to access their superannuation

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for

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retirement

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and allocate a portion of the money as a deposit for a house or an apartment.

Additionally

, plans as well include paying on instalments and over a very long period of time, that can reach 20 or 30 years.

Also

, when comparing the renal costs with mortgages, there is almost no difference,

hence

, not much is saved when the decision is made in favour of leasing over buying. In my opinion, I see owning a house or an apartment as a positive status. No doubt, possessing a place to live

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is not just

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peace of mind. It is,

also

, a long-term investment. So,

instead

of spending money on rents, the income can be invested in a profitable asset that you can rent out, or even sell for a higher price and reap the rewards. In conclusion, purchasing a property is a very important goal for lots of people for multiple sensible reasons:

however

, if it’s done through a well-studied plan.