The right to own a home

CEBU, Philippines - There's no doubt about owning a home being a prevalent thought in young people's mind, especially among young professionals.  It's no secret, too, that it's a wish that's never easily attained. Especially given today's celestial prices of living spaces.

Among those that aspire to own a home, perhaps one of the prime motivations is the idea that once the property is acquired there is no more cost to worry about. Well, that's putting aside the monthly installments. Plus, of course, the monthly utility bills.

The truth is, there are also "downsides" to owning a house. Some people cite several reasons why owning a home is not for them. They say that when you own a home, you are just stuck with it. If the place turns out to be a jinx or the neighbors turn out to be monsters, the home owner cannot just pack up and go.

Another thing, of course, is that the homeowner is stuck with monthly amortizations, which are likely to be at about the same amount if he were simply renting the place. And it doesn't really stop once the property is fully paid. The cost of maintenance and repairs can also amount to something. Plus taxes.

Even the idea that owning a home is good investment has its crack. It's a problem of liquidity. A piece of real estate is not dependable to quickly provide relief to financial emergencies. And while the value of land appreciates through time, the reverse is true with buildings and other such structures.

And yet, it seems that the desire to own a home still holds among the majority. Proof to this are the various housing developments that have since mushroomed in the country. The mere number of these housing projects communicates the high demand for home spaces among Filipinos.

The government has even taken a hand in responding to the need. The Pag-Ibig fund is there to assist middle-class families to own a home. Members are to make mandatory contributions to eventually qualify them for housing loans.

One reason for the desire to own a home is to be free from the clout of the landlord. Many home renters feel that they are helpless from the tyranny of landlords. The common complaints are slow action on needed repairs, high-handed treatment of renters, and frequent raises of rental rates.

True, many landlords treat their renters as if they (the renters) were their (the landlords') juvenile wards. Which attitude slights the sensibility of renters who believe they are the customers and should be treated with due politeness and respect.  But this issue of proper treatment of renters by the landlords may be viewed as a mere offshoot of the more fundamental human need for freedom - the freedom from the clout of others.

In the end, owning a home only gives families part of the freedom they aspire. Many of the costs that they want to put behind them continue to be. And there are no landlords to pass on responsibilities to.

Perhaps the biggest benefit to be gained in owning a home is a sense of security of residence. And it surely boosts the homeowners' self-worth. Of course, it can also help promote personal growth to be independent - to be wholly in charge of one's dwelling.