Why Homeownership Shouldn’t Be the Only Measure of Success

ESV Olanrewaju Ademola Turner-Shaw,

For generations, homeownership has been portrayed as the ultimate symbol of stability, achievement, and adulthood. In many cultures, particularly across Africa and much of the developing world, owning a home is considered a life milestone that reflects financial success and social standing. People work for decades, save diligently, and often take on significant debt just to attain a piece of land or property they can call their own.

While owning a home certainly has its merits such as security, potential appreciation in value, and a sense of permanence, it should no longer be treated as the sole or ultimate measure of success. The idea that one must own property to be seen as accomplished is outdated, restrictive, and increasingly incompatible with the realities of modern life.

First, economic realities have shifted. In many cities, property prices have skyrocketed well beyond the reach of average income earners, especially young professionals. Forcing people to tie their sense of worth to homeownership creates unnecessary pressure and leads many into financial decisions they are not ready for. Mortgages and construction loans can become long-term burdens that restrict flexibility and delay other life goals, such as further education, travel, or starting a business.

In contrast, renting is often unfairly stigmatized as a sign of financial instability or a lack of ambition. But the truth is that many renters enjoy greater freedom, mobility, and financial liquidity. A person who chooses to rent may be doing so to maintain flexibility, avoid the cost of repairs and maintenance, or invest money in higher-yield opportunities. These decisions are not indicators of failure, they are signs of financial wisdom and lifestyle alignment.

Moreover, tying success to homeownership reinforces a narrow, materialistic view of achievement. Success should be measured by more holistic indicators such as personal growth, career fulfillment, mental well-being, the ability to support family, contribute meaningfully to society, or pursue passion projects. A person who has made significant social impact, built a thriving business, or cultivated a fulfilling life without owning a home is no less successful than someone who has a title deed.

The housing market itself is becoming more dynamic, driven by changing demographics and evolving lifestyles. Co-living, short-term leases, and digital nomadism are reshaping housing preferences. More people are choosing to live lightly, avoid long-term commitments, and prioritize experiences over possessions. For these individuals, owning a home may not align with their vision of success at all.

There is also a need for policymakers and financial institutions to broaden their perspectives. Instead of over-emphasizing homeownership in economic policies and credit structures, more support should be given to renters, first-time buyers, and people who prefer alternative living models. Providing affordable, quality housing—whether for purchase or rent, should be the real goal.

Homeownership is a valuable aspiration, and for many, it brings pride and comfort. But it should be one option among many, not the ultimate benchmark for achievement. Success is not one-size-fits-all, and in an increasingly complex and diverse world, the path to a meaningful life should not be measured by bricks and mortar alone.

In redefining what it means to succeed, we create space for more inclusive, realistic, and empowering narratives ones that recognize the richness of human potential beyond property ownership.

ESV Olanrewaju Ademola Turner-Shaw, a registered Estate Surveyor and Valuer is a member of the Nigerian Institution of Estate Surveyors and Valuers (NIESV).