In some countries, owning a home rather than renting one is very important for people. Why might this be the case ?
In recent years, an increasing number of individuals consider it more crucial to own a house rather than rent one in some countries. In my concern, people tend to gain more advantages from owning a home rather than renting one.
For many years, in some countries, owning a house is a symbol of safety, especially for people in Asia where having their own house is a big milestone for them. To illustrate, in Vietnam, when people began their working life, saving money to purchase their own house is the ultimate goal because it is the fundamental factor in building a stable family. Additionally, as a property owner, a house is also a long-term investment since housing prices tend to skyrocket each year. For instance, a small studio apartment in District 1, Ho Chi Minh City after 5 years from 2017, doubled its price since then. In this case, people can make a lot of profit just by selling it and investing in another one.
On the other hand, while having our own house brings us a stable life, people who rent a home will have to face numerous problems. Firstly, when people rent a house, the rent expense will depend largely on the landlord and the economic situation at that time. Furthermore, most rentals did not give renters much control over the house, such as changing the house's structure or paint colors. However, that is not to say renting a house does not have its benefits. Since people want to live in good accommodation in the urban city but the problem following is the price to owning a house is too expensive. That is when renting comes as a great solution.
To conclude, I strongly believe that owning a home is better than renting one because it positively impacts the owner. Therefore, the final decision on buying or renting still depends on the readiness of each.
Do you think this a positive or negative situation ?
In recent years, an increasing number of individuals consider it more crucial to own a house rather than rent one in some countries. In my concern, people tend to gain more advantages from owning a home rather than renting one.
For many years, in some countries, owning a house is a symbol of safety, especially for people in Asia where having their own house is a big milestone for them. To illustrate, in Vietnam, when people began their working life, saving money to purchase their own house is the ultimate goal because it is the fundamental factor in building a stable family. Additionally, as a property owner, a house is also a long-term investment since housing prices tend to skyrocket each year. For instance, a small studio apartment in District 1, Ho Chi Minh City after 5 years from 2017, doubled its price since then. In this case, people can make a lot of profit just by selling it and investing in another one.
On the other hand, while having our own house brings us a stable life, people who rent a home will have to face numerous problems. Firstly, when people rent a house, the rent expense will depend largely on the landlord and the economic situation at that time. Furthermore, most rentals did not give renters much control over the house, such as changing the house's structure or paint colors. However, that is not to say renting a house does not have its benefits. Since people want to live in good accommodation in the urban city but the problem following is the price to owning a house is too expensive. That is when renting comes as a great solution.
To conclude, I strongly believe that owning a home is better than renting one because it positively impacts the owner. Therefore, the final decision on buying or renting still depends on the readiness of each.