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?

An owned accommodation is of utmost importance than hiring domicile for humans in some nations. Overall, there are many reasons for
this
,
such
as being a way of property acquirement, serving as old age insurance and as a means of income. I believe that it is of greater advantage in spite of having some disadvantages.
Firstly
, having a habitat acquired by a person is a means of acquiring possessions which can be passed on to generations and can serve as a generational source of wealth.
For example
, the Dangote group of companies is a family business that was said to have been passed down by his grandfather to him and of which the organization will
also
be passed down to his heir.
Secondly
, owning a home can be an opportunity for insurance for the elderly after retirement. Imagine a 70-year-old woman paying for house rent in a country with no good retirement scheme.
Lastly
, we cannot ignore that housing is a major necessity for humans, so,it is a good source of earnings. Some of the houses on Banana Island,Lagos are being hired for as high as millions,To buttress
this
, a friend of mine who just rented an apartment lamented about using up his life savings on it. On an occasion like that,he wished that he owned one. I am of the opinion that it is a good occurrence to own a home, considering the merits it confers to the owner and the comfortability derived by the owner,despite not denying the truth that it is uncomfortable for the people on the other side. To conclude,there are reasons why people prefer to own a house than renting
such
as the feeling of having possession,being a source of wealth and for future reliance and I believe it is a good decision to do so.
Submitted by adedayoadesewa1 on

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