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

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Living in your own home
instead
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of living in a rented
property
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is highly appreciated in several countries in the world. Some cultures have given the priority to the requirement of
house
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ownership while emphasizing the importance of financial assets.
However
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, several demerits of owning a
house
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can be identified. Both merits and demerits of owning a
house
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and my viewpoint will be elaborated in the essay below. As far as the positive
impacts
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of owning a
house
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are concerned, it is more financially efficient when compared to living in a rented
house
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.
Although
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paying monthly rentals for rented homes seems to be more economically successful, it truly is not financially efficient in the long term. Despite the initial difficulties of investing in a new
property
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in the middle of financial barriers, owning a home is a powerful investment on a long term basis.
As a result
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,
individuals
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are
finally
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able to own
property
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.
Moreover
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, living in your own
house
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allows you maximum freedom whereas in a rented
house
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the tenant has to take permission from the landlord even for a tiny requirement.
Furthermore
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, several negative
impacts
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of owning a
house
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can be identified. In modern society,
individuals
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have to migrate due to the professional requirements in their careers.
Therefore
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, renting a
house
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appears to be a more convenient option rather building a new
house
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. With regard to financial commitments,
individuals
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have to sacrifice money that can be used for their career development opportunities.
Moreover
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, spending money to invest in a
property
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is a tough hurdle for a person who is paid a low salary.
However
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, maintaining your own
property
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costs a lot of money.
As a result
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,
individuals
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would suffer from a heavy financial burden. In conclusion, several cultural backgrounds highly recommend owning a
house
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whereas the younger generation points out several demerits of living in an own
house
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especially with regard to career developments.
Therefore
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, the negative
impacts
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of living in your own
house
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outweigh the positive
impacts
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.
Submitted by rashmi30lk on

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Linking words for giving examples:

  • for example
  • for instance
  • to illustrate this
  • to give a clear example
  • such as
  • namely
  • to illustrate
  • take, for example

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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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