Two question Essay on owning a home
In some countries, owing 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?
Owing a personal house to live in either by purchase from a real estate company or by building from scratch is an important goal for a lot of persons in some parts of the world, like Africa. People in these areas prefer this to living as tenants in rented homes, for personal and financial reasons. This idea, in my opinion has lots of positives to the individual on the long run.
Many persons prefer to own their homes for the sake of prestige. Being a landlord suggests some level of wealth and an average adult will relish the idea. Some persons in Africa will even go to the extent of owing multiple houses in various locations in order to feel fulfilled and comfortable. In addition to this, the rising cost of rent accompanied by ill-treatments received from landlords compel many tenants to abandon other goals in a bid to build or buy their own houses. Worse still, many of the rented apartments may be ill-equipped and these tenants may be restrained from renovating such houses to their tastes. So, the question comes - why settle for less when they could save to own their houses and pimp them to their tastes?
To a large extent, deciding to own a personal house in many countries, where inflation is on a continuous rise is a very positive one. Buying or building a personal apartment in Nigeria, for instance, may cost a big fortune at first, but it is a massive cost-saving venture after the completion of such houses. Rents rise continuously and other bills will not cease to arise, so opting to own a house will be a life saver particularly for employees who are bound to retire in years to come.
In sum, the choice to live in a personally-owned house instead of paying rental fees monthly or annually is considered a very crucial decision for a number of reasons, and I believe it is a good decision.
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