owning a home rather than renting one

Selecting a place to live in is a personal decision for most people in the world. Some argue that owning a house much more important instead of renting a home or an apartment. In my opinion, buying a residence provides a long-term benefit in terms of security and investment, even though there are several drawbacks that must be considered by societies. This essay will explain in more detail the case. The main reason why most individuals decide to own a home is stability. They feel comfortable living in a certain place permanently. They do not have to worry about the monthly rent expense or obligation to follow regulations from the property owner. This feeling of stability creates a sense of security. Moreover, people can make their home investment because its value continuously increases. Investing in real estate is a great idea for the long haul. Therefore, the property can be the best source to earn surplus income. However, there are several people who argue that benefits by owning a place residence as shown in the previous paragraph may be only earned by the ones who have high-ability in financial. Most individuals from lower- or middle-class income need a longer time to purchase their own house by getting a personal loan from a bank. As consequences, they have monthly expenses to pay the credit plus its interests and annual taxes and insurance. That is why several people finally choose to rent a property. In conclusion, overall, having a personal accommodation will provide a sense of satisfaction and fulfilment, but it depends on the individual ability, especially in finance. The demand for buying property leads to inflation in house prices, which mean the people on low incomes more difficult to purchase their own home, forcing them to rent.