Owning a home is of paramount importance rather than renting in some countries. This is because, for most of the people owning a house simple symbolize the success of life, and peoples goals to own a home life it will be the greatest achievement in their life. Additionally,having an own house directly meant a secured shelter for life long, and securing things are our innate human nature. This nature of human are not something new, if we go back to past, from the beginning of our human history,people most likely to have thing that they can call it their own,that result colonization earlier in the world.I think this is a positive development to prioritize buying a home.
Ownerships of a shelter provides the sense of security, dignity and highly honorable. A home is a place where people spend most of their precious time with family and beloved one, owning a home allows people to create an environment as desire, decorate or organize it how they like. Additionally, houses accounted as appreciating asset because of its high yield return.
On the other hand, owning a home comes with other liabilities like maintenance fee, upfront cost or charges like legal fees. These factor can impact one’s financial stability that should not be overlooked. Moreover, rising demands for houses can have impact to an entire country’s economy as it creates shortage for houses, it become hard to deal with inflation in housing sector for those people with less income.
In conclusion, while ownerships of house potentially can cause financial instability, but this is more to sense of security.Own home is a place where people are independent to make decisions like what will be the wall theme or how will be the kitchen cabinet, it is a place where people share all the precious moments and these sentimental factor outweighs the drawbacks of it