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?

#countries #home #people #be #case #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 a home

instead

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of paying

rent

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to the owner.

People

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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 anywhere due to a spike hike in the cost of household rents where most

people

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have started doing investment on it to save their rental amount. Another reason to do investment here is that it is providing them waiver off while paying income tax, which gives a maximum of 8% tax benefits.

Furthermore

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, after buying a home,

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 a huge 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 has purchased a house

then

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their monthly loan instalments 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 houses 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 a positive result if they don’t compromise with their daily lifestyle and maintain their financial status.

Submitted by Arpit on Thu Apr 15 2021

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10
Linking words
meeting the goal of 7 or more
2
Word repetition
meeting the goal of 3 or fewer
0
Grammar mistakes
detected issues

0123456789.0505

Overall Band Score

Coherence and Cohesion: 7.0

Logical structure

Introduction & conclusion present

Supported main points

Accurate linking words

Variety in linking words

Lexical resource: 8.0

Varied vocabulary

Accurate spelling & word formation

Grammatical Range: 9.0

Mix of complex & simple sentences

Clear and correct grammar

Task Achievement: 8.0

Complete response

Clear & comprehensive ideas

Relevant & specific examples

Appropriate word count

4 paragraphs

299 words

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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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