In many countries, people think owning a home is more important than renting one. Why is this the case? Do you think it’s a positive or negative situation?

n

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In

many nations,

people

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attach special value to

home

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ownership,

while

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dismissing the idea of renting.

This

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mindset stems from financial considerations,

coupled with

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the desire for greater freedom, and in my opinion, it leads to several undesired consequences. The incentives for owning a

home

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are clear.

One

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major advantage of

home

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ownership is the autonomy to make changes to the property. When renting a

house

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, the tenants have limited rights to redesign the place as they see fit, which can make the experience of living there less fulfilling. Owning the

house

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,

by contrast

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, can give unlimited freedom to tailor the building to their own needs, ranging from the

paint

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painting

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of the walls to keeping pets inside the

house

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. Another compelling reason to own property is a financial

one

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. Over a long enough period of time,

home

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ownership is not only cheaper than renting, but it can actually generate additional income through rentals or rising costs of housing.

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, I feel that placing so much emphasis on owning a

house

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is detrimental. The belief that

one

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has to own property pushes

people

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to work extra hard to save money, which often comes at the expense of their personal lives or health. An average apartment in my hometown,

for example

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, can cost up to $60,000 – an amount that would take years to collect considering the typical salaries that don’t exceed $1,000 a month.

This

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situation is sometimes exacerbated by taking a mortgage, which inflates the actual cost of the

house

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even

further

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thanks to high interest rates. To pay off

this

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debt,

people

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are forced to work overtime, neglecting their

work-live

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work-life

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balance and

possible

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possibly

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leading to various health-related problems

such

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as

sleep-deprivation

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sleep deprivation

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and emotional burnout.

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,

whereas

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people

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prefer owning a

house

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to renting

one

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for financial and practical reasons,

this

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preference is bound to cause problems

such

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as overworking and deficient work-life balance, which is why I believe it is a negative situation.