In many nations, home ownership is considered to be of great significance. This essay discusses the reasons for this and why I believe it brings merits.
There are two main reasons why owning a house is considered to be of high importance. The main motivation behind its popularity is because it is seen as providing a more stable base for a family. This is because the family home becomes the key place where different generations of a family gather and build cherished memories. For instance, every time I return to my family home it reminds me of all the fun times I have had with my family there, and this makes me feel closer to them. Moreover, houses are seen as a good form of investment. This is because real estate prices usually increase over the long-term.
I believe owner-occupancy can be seen as leading to positive outcomes. First, the stability that it provides to families is paramount to social stability. When the bonds between family members are strong, this alleviates problems such as social isolation and depression. This is because when people are surrounded by their family, they feel loved. In addition, property owners build equity in their homes, and this assists them to retire comfortably. They are also better placed to ride out any financial hardship. For instance, during this current pandemic, people who lose their job but have their own house will not be evicted due to not being able to pay rent.
In conclusion, the main motivations behind home ownership are a desire for a stable family environment and a sound form of investment. This is in my view, highly beneficial as it results in strong social cohesion and financial security
In
many
nations, home ownership
is considered
to be of great significance. This essay discusses the reasons for this and why I believe it brings merits.
There are two main reasons why owning a
house
is considered
to be of high importance. The main motivation behind its popularity is
because
it is
seen
as providing a more stable base for a
family
. This is
because
the
family
home becomes the key place where
different
generations of a
family
gather and build cherished memories.
For instance
, every time I return to my
family
home it reminds me of all the fun times I have had with my
family
there, and this
makes
me feel closer to them.
Moreover
,
houses
are
seen
as a
good
form of investment. This is
because
real estate prices
usually
increase over the long-term.
I believe owner-occupancy can be
seen
as leading to
positive
outcomes.
First
, the stability that it provides to
families
is paramount to social stability. When the bonds between
family
members are strong, this alleviates problems such as social isolation and depression. This is
because
when
people
are surrounded
by their
family
, they feel
loved
.
In addition
, property owners build equity in their
homes
, and this assists them to retire
comfortably
. They are
also
better placed to ride out any financial hardship.
For instance
, during this
current
pandemic,
people
who lose their job
but
have their
own
house
will not
be evicted
due to not being able to pay rent.
In conclusion
, the main motivations behind home ownership are a desire for a stable
family
environment and a sound form of investment. This is in my view,
highly
beneficial as it results in strong social cohesion and financial
security