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

Buying a

house

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can be beneficial for individuals if they want to save

money

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for their later

life

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. Paying

rent

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for the dwelling is becoming an extra financial pressure for people as the rents are increasing day by day,

whereas

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, if you invested in housing you do not have to worry about an additional financial burden. In several countries, buying a home

instead

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of paying

rent

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for living is essential for individuals. I think, getting rid of the financial pressure of

rent

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is the primary reason for

this

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and

this

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is a positive situation for individuals as it provides a financially free

life

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. First of all, in developing countries, citizens need to save

money

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for taking care of their family and for other necessary things, so having an extra financial burden of

rent

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for their housing is quite stressful and heavy on their income.

Moreover

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, if you live in a rental

house

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you have to pay

rent

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monthly or even sometimes weekly, and you have to sacrifice a vast

amount

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of

money

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at the end

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of the

month

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.

For instance

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, in the United States of America, the

rent

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of a studio apartment is enormous, so Americans save their hard-earned

money

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to buy a

house

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for their accommodation.

Furthermore

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, if you brought a

house

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or an apartment, you need not have to pay every

month

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, as

this

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purchase is a one-time payment and you do not have to worry about accommodation in your later

life

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.

For

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this

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reason, buying a

house

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instead

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of renting one is significant for people’s financial

life

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. I think, purchasing a home rather than spending monthly for it has its set of benefits particularly in their financial

life

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. An individual have to pay a big

amount

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of

money

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if they want to buy a

house

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;

however

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, they do not have to worry about the financial stress

at the end

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month

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for the rest of their

life

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.

For example

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, If someone is accommodating in a

house

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by paying

rent

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monthly for ten years, the

amount

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that the individual has to pay will be bigger in comparison to the purchase rate of that

house

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ten years ago. One can save a big chunk of

money

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at the end

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of every

month

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.

Hence

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, the decision of people for owning a

house

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is a beneficial situation for them. In conclusion, by purchasing a home one can lead a financially pressure-free

life

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as well as

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save a big

amount

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of

money

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. for later

life

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,

therefore

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, it is significant for their

life

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.