In Some countries, owning a home rather than renting one is very important for people. Why might this be the case? Is this a positive or negative development?

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Buying a house is the most preferable choice in many countries over paying
rent
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. Some
people
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reckon that
this
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could be a better option for their future to purchase
home
Correct article usage
a home
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instead
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of paying
rent
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to
owner
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the owner
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.
People
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do
this
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for an investment purpose which would help them to reduce their expenses on rented accommodation. I believe that
this
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is a negative development because it reduces the freedom of
people
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.
To begin
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with,
people
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realize the importance of owning a home
in
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apply
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anywhere due to spike hike in
cost
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the cost
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of
house-hold
Correct your spelling
household
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rents where most
people
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have
been start
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start
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doing investment on it to save their rental amount. Another reason to do investment here that,
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this
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apply
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is providing them waiver off while paying income tax, which gives
maximum
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a maximum
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8
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of 8
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% tax benefits.
Furthermore
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, after buying
home
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a home
show examples
,
people
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feel that it’s a sign of success, hard work and the biggest achievement in their career.
Although
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, tenants have
huge
Correct article usage
a huge
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burden because their large amount goes on
rent
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as the report published by the world development organization
last
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month. Moving ahead,
this
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will
also
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have a negative effect that if a person
have
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has
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purchased a house
then
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their monthly loan
installments
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instalments
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have been started and they would not live their actual lifestyle due to financial burden on them.
Last
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but not the least, freedom is a key to success in anyone life but with some precautions.
In other words
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,
people
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should buy
many
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much
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property
Change to a plural noun
properties
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but they need to set their approximate expenditure
accordingly
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till the loan gets cleared. In conclusion, it is absolutely correct that
people
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are more inclined towards buying a house in place of paying
rent
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but
this
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should give
positive
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a positive
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result if they don’t compromise with their daily lifestyle and maintain their financial status.
Submitted by Arpit on

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Topic Vocabulary:
  • Homeownership
  • Property ladder
  • Real estate
  • Mortgage
  • Equity
  • Inflation hedge
  • Stability
  • Long-term investment
  • Asset
  • Liability
  • Housing market
  • Tenure
  • Down payment
  • Property taxes
  • Maintenance costs
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