Prompt: 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 a positive or negative situation ?

The factors that drive people towards owning a house varies. Many people across the world prefer to purchase their house rather than rent it. I believe that this choice exhibits positive development. This essay will discuss further details with respect to this situation and substantiate my view. Ċ To commence with, having an owned place provides a sense of security to an individual along with the family. Fluctuations in markets and continuous fear of recession might lead to unstable income, resulting in preventing individuals from attaining basic needs, such as monthly rent, food and clothing. For instance, if an individual has secured a place for shelter, the remaining necessities to seek will be food and clothing which seems manageable. In addition to this, an individual is safeguarded from the expense of monthly rental which has shown a considerable increase in recent times. Ċ Furthermore, another reason associated with opting for a personal place is the continuous increase in terms of property value. People consider this as a form of investment that is likely to grow over time. Instead of paying a large sum of fares while leasing a house, it sounds plausible to invest the budget in purchasing it and reaping its benefits. For example, people who have purchased a place about a decade ago has seen the value raise up to ten folds. Therefore, considered smart investment and value for money. Ċ To conclude, rather than using a house temporarily while paying a huge amount with no return and a sense of security, it is better to place the same budget into owning a home seems profitable. Thus, results in providing a stable lifestyle for the public. I think that this is a positive impact on the progress of a country.