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.

Many adults all over the world strive for owning a property

instead

of renting.

This

might be due to social, or financial motives. Personally, I consider

this

a very positive step with many advantages as will be illustrated in the following paragraphs. People’s motivations to purchase houses can be enforced by their social image.

For instance

, in the Western culture, having a house is considered a sign of maturity and responsibility, especially when planning to establish a family. Middle- Eastern Societies

also

condition men to have their own private places in order to get married.

However

, apart from cultural beliefs, possessing an asset is meant to be a great investment for the future.

Additionally

, it gives a feeling of stability and security. Residents look at the owned dwelling as a long-term investment that can be sold in the future for a higher price

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or rented out. In my opinion, I reckon purchasing a house is one of the greatest and most feasible goals in life. Particularly now, with the availability of various financial programs provided by the banks and the governments.

For example

, the Australian government allows young employees to access their superannuation kept for retirement, and to use it as a deposit to buy a home. Undoubtedly, the economic value of an asset increases over time, compared to saved money.

Moreover

, spending part of the income on paying off the instalments (mortgages) is considered an investment for a long-term project, while spending the same amount on

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temporary accommodation is just a waste of money, in my point of view. In Conclusion, the desire for buying a house can be driven by different reasons, either cultural

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or financial.

However

, as far as I am concerned, preserving money in the form of Real Estate

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has been always a winning card.