in some countries, owing a home rather then renting one is very important for people . why might this be the case ? Do you think this is a positive or negative situation ?

It is believed that it is vitally important for people in certain nations around the globe to have a house compared to renting it. The impending essay will discuss the cases of it and will elaborate my view about the drawback and benefits of it for individuals. There are multiple reasons why owning a house is better compared to renting.

Firstly

, an increasing number of people believe that having a home will count as private property which may lead the owners to renovate or bring chances in the areas.

However

, they are not allowed to implement any chances in a leasing place.

As a result

, they can live permanently.

For example

, if a person wanted to design in a rental area, they should ask for permission from the owner.

Additionally

, having a place contribute to being under less pressure because there is no need to pay monthly. As a consequence, the owner will save lots of revenue.

For instance

, the Times has announced that almost 80% of Canadian income goes to monthly payments while just 20% will spend on other expenses. From my point of view, purchasing an apartment has its own drawbacks and benefits. One of the main negative effects of it is the renovation

this

is because it cost lots of money while living in a leased place which may lead to not paying these expenses as it will be done by rental companies. Fortunately, owning house results in a significant life because everyone will have their own space.

For instance

, those who live in rental apartments share their rooms due to the high expenses of rent while an owner may have their own room and bathroom with plenty of space. In conclusion, It is true that it is crucially important for people to have their own space compared to renting it in some nations around the world. In my perspective, being able to decorate and having less stress will be the reasons and huge spaces, and high cost is the advantages and disadvantages of it.