Some people believe that owing, rather than merely renting, a home is of great significance. The following essay will describe why I think this is the situation and whether I believe it to be a good or a bad state of affairs.

To begin with, I can empathize with those that feel owning your own home is an important part of life. As a recent home-buyer myself, I can say the difference in being able to personalize each room and make it more than just another apartment filled me with an unexpected amount of joy. In addition to this, the financial investment into property is well-known and many people try and get as high on the property ladder as they can before retiring, and then downsizing.

For those that are uninterested or unwilling to enter the property market I can see the reasons for this. For a start, raising the initial deposit can be extremely difficult without going to the most popular bank in the world - Mum and Dad. Renting can be an easy option to begin, and stay with, if necessary. It is also well known that there have been multiple property crashes as recent as 2008 when the world suffered a global recesion, principally because of poor decisions by bankers, and inpiduals, on mortgages.

As for whether I believe it is a good or bad thing, I can unreservedly say that the advantages of owning your own property far outweigh any potential mishaps that may or may not happen in the future and I would recommend purchasing as early as possible.