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?

Homeownership has always been an important topic in people’s lives. In some parts of the world, having one’s own

house

is considered to be of greater significance than being a renter because of high rental

costs

and freedom of choice.

However

, I tend to think

this

trend is negative for some reasons. On the one hand, homeowners may enjoy some of the advantages that tenants would only dream of.

Firstly

, they are not obliged to pay high rental

costs

on a monthly or yearly basis, which enables them to set aside some money,

for example

, for their retirement.

Besides

, the owner can renovate the

house

the way they like and enjoy more open space, gardening, and other facilities in the

house

. Renters may not,

however

, have these kinds of amenities, meaning for every change they would like to make in the

house

or apartment they would need permission from the landlord. Under

this

policy, they even may address the landlord to paint the walls in a different colour.

On the other hand

, since living on a lease can create more opportunities, I maintain

this

is a negative development. One of the possible reasons for

this

is that tenants might not have to bear maintenance

costs

, repair bills, or real estate taxes. It would be an annoying and time-consuming process if there were a problem with running water. If

this

is the case, there are no worries for renters because

this

is the landlord’s business. Another striking example is that, in the city of Tokyo, Japan, residents often pay as much as 15 to 17 thousand yen in property taxes annually.

That is

approximately the same amount they may need to rent a two-bedroom apartment.  Another idea behind

this

is the flexibility to relocate. With people becoming more and more open to migrating to new places,

in particular

, in search of better job opportunities and pursuing their education, renting can come in handy for those. Whenever they feel the need to move, they can easily do so. Homeowners,

on the other hand

, are forced either to sell or rent their houses, which can be problematic in some countries because of the unnecessary bureaucracy in local governments.

To conclude

,

while

I concede buying a home gives people more independence and the opportunity for wealth creation, renting is actually a smarter choice considering the financial

costs

and flexible location.