In some countries, owning a house 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?

The members of certain areas claim that being a houseowner can bring more benefits than being a tenant. The following essay will first suggest that the biggest reasons for

this

assumption are the stability and the potential for long-term investments, and

then

demonstrate that

this

is a negative trend since it exacerbates the financial strain and owners are unable to withdraw the expenses if they intend to vacate. The foremost reasons for the significance of homeownership are that it can provide a high level of security and generate opportunities for purchasers to earn an extra source of income.

Firstly

, as the public can avoid accommodation hunting when a rental contract expires, they can focus on other important decisions

such

as career goals or marriage, which altogether boosts their living standard.

Secondly

, the settlement of the mortgage empowers buyers to rent out a portion of their property, so they are likely to compensate for the paid expenses and earn additional income.

For instance

, in 2020, many landlords in urban centres decided to refurnish their rooms as homestays for rent and

this

has brought them large sums of money.

However

, the trend that many individuals value the possession of a residence over rented accommodation is negative

due to

its contribution to financial issues and the freedom of relocation. If unexpected difficulties, namely job loss or a decrease in wage, arise, it can be overwhelming to balance between redeeming property taxes and covering utility bills, which raises concerns about eviction or stress.

Furthermore

,

while

tenants can easily terminate a rental contract and find a new place if they are not satisfied with their current accommodation, it is very difficult for homeowners to do the same. A clear example can be seen with Indonesian citizens who relocate to a region without knowing the existence of a nearby active mountain.

Therefore

, they either have two options: either make their residence available for a cheap rent or accept living in fear. In conclusion, I believe that purchasers in some countries now prefer to buy their homes because they seek stability and a way to make a profit.

Nevertheless

, unless thorough considerations are made, homeowners may face undesirable outcomes

as a result

.