Question: In some countries, owning a home rather than renting one is very important for people.
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While some people advocate for owning housings insteade of renting them due to their welfare's situation and psychological traits, others claim that spending so much money on accommodation only prevents you from enhancing your wealth.
On one hand, possessing a residence has its own psychological benefits for individuals. It is also true that in every culture and country peoplemalways prioritize purchasing their homes above anything else. I believe that people do that in order to feel secure and safe in a chaos world. Besides, living in somewhere safe and tranquil can avoid you negative emotions like anxiety and depression caused by being undecisive and insecure. Although there are many countries that people are daily experiencing a steady rise of expenses, so they have no choice to purchase every item they can today instead of not buying them tomorrow. This phenomenon is often seen in developing countries in Asia and Africa. For example, In my country (e.g., Iran), our salaries do not rise with other prices, and housings cost twice more than they worthed last year; so in this situation, whoever that bought an accommodation last year is not able to buy one now.
On the other hand, critics of this method believe that putting a noticeable part of your budget in accommodation can cease you from progressing for many years, as you could do a business with your money and make significant profits. Athough the value of the house will increase with other prices; however, you will not be able to use a part of that money on other expenditures.
In conclusion, owinig your home, despite bringing the feelings of relief and satisfaction can also protect you from volital and unstable prices. However, in a stable society with reasonable prices, spending a substantial part of your budget on housing would not be the wisest decision to make.
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While some people advocate for owning housings insteade of renting them due to their welfare's situation and psychological traits, others claim that spending so much money on accommodation only prevents you from enhancing your wealth.
On one hand, possessing a residence has its own psychological benefits for individuals. It is also true that in every culture and country peoplemalways prioritize purchasing their homes above anything else. I believe that people do that in order to feel secure and safe in a chaos world. Besides, living in somewhere safe and tranquil can avoid you negative emotions like anxiety and depression caused by being undecisive and insecure. Although there are many countries that people are daily experiencing a steady rise of expenses, so they have no choice to purchase every item they can today instead of not buying them tomorrow. This phenomenon is often seen in developing countries in Asia and Africa. For example, In my country (e.g., Iran), our salaries do not rise with other prices, and housings cost twice more than they worthed last year; so in this situation, whoever that bought an accommodation last year is not able to buy one now.
On the other hand, critics of this method believe that putting a noticeable part of your budget in accommodation can cease you from progressing for many years, as you could do a business with your money and make significant profits. Athough the value of the house will increase with other prices; however, you will not be able to use a part of that money on other expenditures.
In conclusion, owinig your home, despite bringing the feelings of relief and satisfaction can also protect you from volital and unstable prices. However, in a stable society with reasonable prices, spending a substantial part of your budget on housing would not be the wisest decision to make.