Not necessarily. I actually faced this issue myself when tree roots damaged my sewer line. I considered removing the very large tree from the front of my house and replacing it with a smaller one. However, my plumbers were able to secure the line and remove the roots and seal the new pipe avoiding the need to remove the tree.
One option to consider is what are your priorities? Is the destruction of your house which keeps your family sheltered worth a single tree? How about the idea of removing a tree without considering other options simply because it has done some damage to your property that might warrant a simple fix?
Tress often help protect homes by shading roofs from the sun and obviously are good for the environment. The tree in question may in fact be too large for the space that it was planted in. A smaller version may be better for the neighborhood. However, one should not jump to hasty conclusions one way or the other without checking out all possibilities. But obviously the safety of your family and their home could very well be the more important priority here.