In some countries, owning home rather than renting one is very important for people. Why might this be the case? Do you think this is a positive or a negative situation?

A home is a place where people find a sense of belonging and safety. In a few countries, people consider purchasing their own houses for living

instead

of living on rentals.

Although

both these views are justifiable, I believe having one’s own property is a positive trend.

Firstly

, among various ,communities it is believed that owning an accommodation is a sign of wealth, prestige, and respect in society. To elaborate, families who don’t possess their own homes and accommodate themselves in rented spaces are referred mediocre.

Secondly

, having a space to one’s own name gives a sense of safety and security.

For example

, during the time of covid almost all the workers who immigrated to big cities for jobs, rushed back to their hometowns where they can safely live with their families under their own roof. Even I believe that owning a residence can help the owner in a time of emergency. To explicate, properties are considered a valuable possession and retaining one can allow the members of it to enjoy multiple benefits, like as a future investment, opening a small store in the house itself as a boutique or a salon, can put the property on a mortgage or can even sell it in exchange of money.

For instance

, for sending a child abroad for studies a parent can easily arrange an education loan on the owned property.

However

, if everyone starts constructing shelters for themselves

this

may lead to a reduction in land for agriculture and forests for wildlife. But with careful planning and construction, lands can be maintained for harvesting and flora and fauna can be preserved. In conclusion, I strongly believe that owning a home is better than renting one because it has a more positive impact on the owner and the family members as it is a great investment scheme.