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?

It is true that in several traditional countries, citizens would like to buy

an

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accommodation

instead

of renting it. Reasons for

this

phenomenon vary, and in my opinion, it has both pros and cons. The following paragraphs would shed light on my viewpoint.

To begin

with, there are various explanations for the topic in question.

First

, possessing a

house

allows

individuals

to have more privacy. To be specific, the owners of a

house

have the right to decorate it based on their hobbies, which drives

to

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the benefits of mental health. If they rent an apartment, they need to ask for

a

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prior consent of the owners before implementing anything with it.

Second

, obtaining a

house

would reduce several kinds of monthly bills. To elaborate, it is undeniable that there are several rising costs if

individuals

rent an apartment, namely parking fees or elevator maintenance.

Therefore

, if citizens have the ability to possess a

house

on their own, they are able to use the space of the

house

to park, and

this

will be totally free of charge.

For instance

,

leasors

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lessors

in Vietnam usually force renters to pay the electricity bill three times higher than

its

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their

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real prices. It can be said that

this

phenomenon is both a blessing and a curse. On the one hand, the expenditure on owning a

house

is excessively high. Specifically, it is indisputable that

individuals

need to use most of their savings for buying a

house

, which leads to financial pressure. Worse still, to buy a

house

, several residents have to borrow money from banks with

high interest

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rates, and if they fail to pay the original debt on time, their

house

would be the assets of the banks.

On the other hand

,

this

enables a nation to develop its economy. To be specific, owning a

house

is the motivation of an employee. Admittedly, in order to purchase an apartment, employees shall have to work harder to earn more money. Thanks to

this

, work efficiency could be enhanced and

as a result

, the economy would be developed. Take Vietnam as an example, after the Covid-19 pandemic, the costs of

an

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accommodation in Vietnam are several times higher than previously.

This

prevents citizens from owning a

house

by themselves, and they need to find financial aid from credit institutions to own it. In conclusion,

individuals

would like to buy a

house

because of various reasons like privacy and money savings.

Nonetheless

,

this

would put

individuals

at risk in some cases.