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?

One has to achieve numerous milestones in a lifetime, one of which is buying a

house

- more or less perceived as the most prominent feat. Engenders behind

this

perception, including both tangible and intangible values, will be delved into in

this

disquisition, along with

further

evaluation

on

Change preposition

of

show examples

the impacts of

this

occurrence. The reason why many people place the practice of owning their own

property

on a pedestal, higher than renting, can rationalise into a sense of stability and investment. What homeownership can provide its owner is control over multiple aspects, from maintenance to better financial management; these are utterly absent in renting.

As a result

, homeowners get a sense of stability against many adverse events,

such

as inflations, rising rentals, and relocation. A

property

,

on the other hand

, is an excellent investment, which is particularly true in urban centres with high levels of population density. Extensively enormous migration flows from rural areas to metropolises in search of jobs and better living standards has been driving real estate prices skywards;

this

opens up lifetime opportunities for many to significantly change their life.

Hence

, even if needed to apply for a loan, many still prioritise purchasing a

house

above leasing. The question of whether

this

belief is positive or negative is subjective. A

property

is an asset if the owner has enough financial power, offering him an array of benefits from monthly passive incomes from rental to a marginal return of investment (ROI) in future sales.

This

is why the majority of investors consider real estate as the safest and most potential channel, dividing an eminent proportion of their portfolios on

this

sector.

On the contrary

, a

house

can be a burden for young adults or middle-class families; in a study, it takes an average young American around 6.5 years only to save for a 20 per cent mortgage down payment, and a portion of 30% to 60% from monthly wages in another 25 years to repay the loan. In

this

case, a

property

turns into a liability rather than an asset, possibly stressing and deteriorating the life quality of borrowers over an extended period. In conclusion, it is undeniable that the benefits of owning a

house

have promoted its importance and favoured it over renting;

however

, I personally think positive or negative impacts of ownership are conditioned to aspects of wages, expenses and personal capability.