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?
The question of whether individuals are ought to purchase their own house or opt for renting a home is quite a controversial topic today. The reasons will be discussed and it will be examined why it is considered as a negative situation. In my view, there are merits to owning your house,
although
I opine that the disadvantages outweigh the benefits.
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To begin
, in many countries purchasing and maintaining a home is crucial and considered as a necessity. Linking Words
For instance
, in the United States of America, Linking Words
this
practice is bound to be part of achieving the so-called 'American Dream'. The reason is that it should create financial stability in the society and one can prove their wealth by owning a home. Linking Words
However
, a large number of people achieve Linking Words
this
goal by paying their mortgage, there are times when these payments were not fulfilled. Linking Words
As a result
, Linking Words
this
might have been one of the repercussions of the 2008 economic recession. Linking Words
Hence
, renting would boost the economy over time. Linking Words
This
example shows one of the major drawbacks of being a homeowner.
Renting, Linking Words
on the other hand
, might cost an arm and a leg in most countries, so people might become financially encumbered. Linking Words
For example
, previous data from 2016 shows that more than 40 per cent of the people's income was spent on rent. Linking Words
Although
, according to a recent study conducted by Harvard University in 2018, renting might not cost more than owning, due to the fact that maintenance is not required. So, if you consider all fees and expenses renting and owning might be the same price in the long run.
To conclude, it is debatable whether paying monthly for accommodation or owning a house is a better option. According to some previous studies, renting seems to have a more successful turnout. Linking Words
Thus
, I totally disagree with the given statement.Linking Words
Submitted by klaudiaeperjesi on
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