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

attach special value to

home

ownership,

while

dismissing the idea of renting.

This

mindset stems from financial considerations,

coupled with

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

home

are clear.

One

major advantage of

home

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

house

, 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

,

by contrast

, 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

. Another compelling reason to own property is a financial

one

. Over a long enough period of time,

home

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

However

, I feel that placing so much emphasis on owning a

house

is detrimental. The belief that

one

has to own property pushes

people

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

, 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

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

house

even

further

thanks to high interest rates. To pay off

this

debt,

people

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

as

sleep-deprivation

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sleep deprivation

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and emotional burnout.

To conclude

,

whereas

people

prefer owning a

house

to renting

one

for financial and practical reasons,

this

preference is bound to cause problems

such

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