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?

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Having ownership of a
house
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is considered to more significant by people than renting it, in most of the regions of the world.I totally agree with
this
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statement.
This
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essay will discuss the possible reasons for people owning a
house
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and that it is a positive aspect. There are many reasons for people not renting their
house
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.
First
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of all,they have an attachment with the
house
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as they spent a considerable amount of time with their family.
This
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is the place where they have seen their children grown and played with them as well.
For instance
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,
although
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my parents have shifted to New York, they haven't laid their
house
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on rent as they have numerous memories attached to it.
In addition
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,some people spent a huge sum of money on decorating their
house
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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
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as the original owners do.
This
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why people consider to own a
house
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rather than renting. I believe
this
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a positive situation as the
house
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is considered to be a financial asset and it can be used in difficult situations.
Likewise
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,if we own a
house
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,we can take loans or keep our
house
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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
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.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
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as security.So owning a
house
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can be beneficial in worse situations. To conclude,I believe owning is a
house
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is far significant than renting it out because it can be used as an asset in a difficult scenario.
Additionally
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,people's attachment with the
house
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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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