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

In some countries, owning a
house
rather than renting one is very important for
people
. In the following paragraph, I will outweigh the benefits and drawbacks of owning a
house
and renting a
house
. On the one hand,
To begin
with,
People
owning a
home
do not have to worry about the landlord nor do they have to pay a monthly rent.
Hence
, they can modify their
home
according to their needs and wants and feel secure in it. For many, the
home
is like heaven and so they spend quite a fortune on designing and decorating it. Some
people
,
on the other hand
, consider their
home
as an investment that they expect to appreciate in value in the future.
Moreover
, Some renting
home
has a lot of regulation when signing a lease contract.
Accordingly
, it makes the renter feel uncomfortable as they live in their own
house
.
Furthermore
, if the rented
house
was damaged by a mistake, the renter must be responsible financially for the problems. After a lease contract ended, the renter can not has all additional facilities back. All in all, I feel that whether owning a
home
is a positive or negative situation is quite subjective, depending on the circumstances of the person. For
people
who have the money to buy a big
house
and few financial liabilities, their
house
is an asset and owning a
house
is a positive situation for them.
However
, most middle-class families buy a big
house
which is often out of their budget. They fund
this
by taking out huge loans and end up repaying the amount over a very long time.
This
increases the interest they have to pay.
In addition
to
this
, they have to pay property taxes and insurance which are directly proportional to the area of a
home
.
Furthermore
, the electricity and maintenance costs get added to their everyday expenses. To conclude, I feel that owning a
home
can be a pleasurable experience if done within a budget.
However
, it could turn into a negative situation when a person buys a
home
by getting a loan
that is
way beyond his repaying capacity.
Submitted by first.kantapat on

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