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

Nowadays, most people have started to take interest in the area of real estate in almost all countries. They are considering buying their own house

instead

of renting one due to multiple reasons.

However

, in my opinion, it is a favourable scenario if you have a place of your own and in

this

essay, I will shed light on why it is necessary. Since the downturn of the economy, the rents have drastically increased. If a human has a place of his own,

then

luckily he does not have to pay the rent and can save a good amount.

For instance

, in Pakistan, a two-bedroom residence costs around 30,000 rupees per month and the salary of an average Pakistani is 60,000 rupees.

Moreover

, the rest of the amount is taken away by bills, utilities and groceries. As a consequence, a person is not able to save any penny for a rainy day so it is very crucial to have a space of your own.

On the other hand

, being a tenant to a landlord is really helpful for the students. Most students tend to pursue their higher education in other countries and while being a pupil, they cannot afford an accommodation of their own.

For instance

, if a student is moving abroad, he would either live in a dormitory or share an apartment with another person. In that way, he does not have to be worried about buying an apartment or a home. To put it in a nutshell, having a household possession depends on one's financial situation and preference. I believe that owning a space has several benefits and a person should definitely buy one if it is affordable.