In some countries, owning a house 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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House
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is
one
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of the most crucial basic needs of human life. The idea of buying or renting a
house
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varies based on the topography you reside in. While in developing nations people opine to purchase the
house
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, in developed countries people ought to
rent
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the
house
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. I opine owning a property always pays off in the long run. In developing countries, people deem fit to purchase the
house
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due to various factors socio-economic factors. As the property rates are always escalating and buying the
house
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always reaps higher returns than any other form of investment.
For instance
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, in India, real-estate has seen an average of 30% appreciation per year in the past 5 years.
Also
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, considering the over-population and inflation in
such
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countries, owning a
house
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also
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ensures that future generations have their own roof to live under.
Consequently
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, if
one
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has to move,
rent
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from the owned houses can be used to pay off the
rent
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of the new place. In developed countries, where property rates have reached its peak, appreciation on investment might be marginal, making leasing a feasible option. A recent study delineated in Toronto a
house
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can be as costly as 22 years of
rent
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. Concurrently, in western countries, children rarely live with parents, so buying a
house
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to ensure their children's future isn't a major concern. On the flip side, even though not owning the
house
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seems viable, it
also
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stips
one
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off the benefits of earning
rent
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, investment appreciations, and living
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rent free
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rent-free
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retired life. In conclusion, if we
rent
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the
house
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for decades, we don't own them at the end of the tenure, but buying a
house
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enables us to generate a bunch of future financial and social positives.
Thus
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deeming owning a
house
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as a better option than renting
one
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.
Submitted by Nirbhay on

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  • Paragraph 1 - Introduction
    • Sentence 1 - Background statement
    • Sentence 2 - Detailed background statement
    • Sentence 3 - Thesis
    • Sentence 4 - Outline sentence
  • Paragraph 2 - First supporting paragraph
    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
    • Sentence 4 - Conclusion
  • Paragraph 3 - Second supporting paragraph
    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
    • Sentence 4 - Conclusion
  • Paragraph 4 - Conclusion
    • Sentence 1 - Summary
    • Sentence 2 - Restatement of thesis
    • Sentence 3 - Prediction or recommendation

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Topic Vocabulary:
  • homeownership
  • financial security
  • property appreciation
  • equity
  • mortgage
  • real estate
  • tax incentives
  • fixed asset
  • inheritance
  • economic mobility
  • housing market
  • maintenance
  • upfront costs
  • long-term investment
  • personal space
  • housing bubble
  • rental market
  • housing crisis
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