In some countries owning a home rather renting one is very important for people Why might this be the case? Do you think this is a positive or negative situation?

Many individuals consider home ownership as the essential part of their status. In some nations, it is believed that if someone has house on their name then society consider them as successful as compared with person living in rented house. This essay will discuss about the positive and negative aspects of the prior argument. There are many reasons due to which society think owning a house is essential to led a ideal life between them and then only one considered as successful. Firstly, The main motive behind its popularity is due to fact that it provides shelter and gives stability to the family. Secondly, It is also consider as a valuable assets that increases with the time. As the land is limited the value of home grows positively and there is huge market of real estate which too provides financial help. There are numerous banks who gives home loans at an affordable interest rate. On the other hand, there is few drawbacks of having home ownership such as working professional thinks it is best to live on rent as it save lots of money and they don't have to worry about the mortgage. As most of them need to move from one city to another due to their job commitment thus, it seems more convenient to live that way. In conclusion, Even though, Home ownership is consider as achievement among society but rent a home gives more independence in terms of exploring new places and learning about new the culture. And it provides the option to live life debt free as they can save most their money and use it on essential things.