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

Having ownership of a
house
is considered to more significant by people than renting it, in most of the regions of the world.I totally agree with
this
statement.
This
essay will discuss the possible reasons for people owning a
house
and that it is a positive aspect. There are many reasons for people not renting their
house
.
First
of all,they have an attachment with the
house
as they spent a considerable amount of time with their family.
This
is the place where they have seen their children grown and played with them as well.
For instance
,
although
my parents have shifted to New York, they haven't laid their
house
on rent as they have numerous memories attached to it.
In addition
,some people spent a huge sum of money on decorating their
house
which is expected to be destroyed, if it falls in the hands of the tenant.People who come on rent do not care for the
house
as the original owners do.
This
why people consider to own a
house
rather than renting. I believe
this
a positive situation as the
house
is considered to be a financial asset and it can be used in difficult situations.
Likewise
,if we own a
house
,we can take loans or keep our
house
on a mortgage against a big sum of money in the bank ,which sometimes becomes difficult if the original owners are not residing in the
house
.One clear example is,my uncle has recently been granted an education loan of 20 lakhs for her daughter's higher education from ICICI Bank, with his
house
as security.So owning a
house
can be beneficial in worse situations. To conclude,I believe owning is a
house
is far significant than renting it out because it can be used as an asset in a difficult scenario.
Additionally
,people's attachment with the
house
and their fear of it being destroyed by the tenants don't allow them to rent it.
Submitted by grvkumarsingh1 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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