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? Give reasons for your answer and include any relevant examples from your own knowlede or experience.

Over the centuries, human beings have owned their own houses for residence,

however

; since rapid changes in the modern world,

this

became most of one's dream.

Although

there are several types of living status

such

as renting and leasing were introduced, some people still believe that they must own their home. In

this

essay, I will discuss the supporting reasons for

this

idea as well as its benefits and problems. It is undeniable fact that it used to be extremely straightforward to own a

house

if you were hardworking and dedicated to work. Due to wealth being much easily accumulated in the past than nowadays, the main problem with owning a

house

is that most people can not afford to buy a

house

.

For example

, to buy a

property

, you have to have a certain amount of deposit saved up with you around 10% to 20% of the full price.

This

price is excluding the stamp duty and maintenance fees which you must pay added to your

property

. It is not a small amount of money you can save at young age especially, since the housing price surged during the pandemic by at least 30% of the value of the

property

, which means that if the same

property

was sold at $500,000 a few years ago, now it holds at $650,000. In comparison to paying these fees, being a renter is much cheaper and less stressful.

However

, it is crucial to have one's own

property

as early as possible.

Firstly

, being a renter is always on edge and unsecure especially depending on your landlord's decision.

For instance

, if a landlord sells its

property

, you may be requested to relocate or your rental fee can be increased without your expectation.

Secondly

, the

property

market has been the most strong investment with a long history. Owning a

house

can increase your opportunities to accumulate wealth due to housing prices can go up.

In addition

to

this

, you can rent out your

property

if it is no longer necessary. In conclusion, traditionally, owning a home was considered an obvious decision to make,

however

,

unfortunately

Add the comma(s)

,unfortunately

show examples

it is not as easy as it used to be. Renting a

house

became more popular because of the high cost of purchasing a

house

as well as paying mortgage rates, stamp duty and maintenance fees,

also

it can restrict your residence within the country.

However

, It is still essential to own your

property

because renting is insecure and the

property

market is prestigious with potential growth of your money.