In some countries, owning a home rather than renting one is very important for people. Why might this be the case? Do you think this is a positive or negative situation?

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Instead
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of staying on rental basis, the importance of purchasing a house becomes pivotal among people in a few countries.
This
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essay will explore what might be behind
this
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trend, and personally, I feel that
this
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is a positive development. One of the most significant reasons why many individuals are deciding to buy a home could be that now the prices of rent are at a pinnacle than it used to be. Due to
this
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, one could not able to save handsome finances, which is a serious problem in most families, because they spend a lot of
money
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to pay monthly rent.
For instance
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, a recent study was conducted in the United States of America, has shown that tenants are paying 45 percentages of their income into the rent.
As a result
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, people are turning to take a risk on buying their own dwelling, maybe through a bank loan, because it gives them an option of low-interest rate instalments. There are two primary factors, which can be proved as promising progress for
this
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pattern.
Firstly
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,
homebuyers
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feel relaxed and can enjoy a lavish lifestyle without any interference from the landlord.
In other words
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, by having an own shelter, it gives them satisfaction of pride, as they have built it
from
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for
their hard-earned
money
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.
Secondly
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, most individuals consider home as a secured asset, which going to be double in a few years.
Hence
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, it will help them to save ample of
money
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in the long term.
Thus
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,
this
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trend will bring beneficial impacts on one's life and can improve the quality of life for so many. In conclusion, I strongly believe that positive sides do overpower negative ones, and would say
homeownership
Suggestion
can save
money
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in the longer perspective, whereas renting would not impart them any benefit.
Submitted by Parth on

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Topic Vocabulary:
  • ownership
  • renting
  • importance
  • sense of security
  • stability
  • financial investment
  • asset
  • customize
  • decorate
  • belonging
  • community
  • potential
  • future generations
  • long-term
  • cost advantage
  • control
  • living space
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