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?
People across the globe
prefer to have their own residence rather than residing in a rented
accommodation. There are several reasons behind this rationale - sense of
security and prestige, to name a few. However, some consider such conditions as
favorable, while others do not.
Owned house has always been
a symbol of security and wealth for mankind. It has always been perceived that
being a house owner is always favorable as it adds to the net worth of an
individual that aids them to secure a social status and recognition in society.
Besides this, it renders a sense of security among people as each individual
considers their house as a safe haven in their twilight years. Where one can
spend the remaining life with respect and dignity. Thus, it becomes significant
for people to have their own home.
Furthermore, it is a
positive scenario for many because in such circumstances it becomes quite easy
for an individual to defend oneself during financial crises or exigencies since
in those times properties are counted as collateral and a backup plan that can
safeguard a person from being trapped in debts.
However, others think
differently, as this lobby feels that buying an own house is a tedious task and
requires a huge investment of money, which is an uphill task for several to
amass in a lifetime, and even if they manage somehow, in-order to do so, one
has to forgo and in fact sacrifice many of their present needs and desires,
which is considered to be unwarranted.
Therefore, after
considering both sides of this phenomenon holistically, I personally feel that
overall, owning a house is a positive situation that empowers an individual
with social reputation, honor and self-esteem in life.
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