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?

Some
people
prefer to buy a
house
instead
of renting one, and there are
reasons
why they prefer that,
such
as the stability owning a
house
provides and that no money is wasted on rent. Personally, I believe
this
approach has both positive and negative aspects to it, which will be discussed in
this
essay. A few
reasons
why
people
might prefer to own a
house
instead
of renting one could be thought of.
Firstly
,
this
provides a more stable environment, as the landlord might put the
people
in a situation where they have to move out. An example of
this
can be seen all the time in Egypt, where after a one-year contract the owner would not want to renew the contract and the family would have to look for another place to live. As can be imagined,
this
would be an inconvenience. Another factor that contributes to
this
preference is that
people
think that if they save the money
instead
of spending it on rent, it will be beneficial in the future. Since the
house
prices increase considerably over the years,
this
would be considered an investment
instead
of a purchase. I believe that
this
situation has some positive and negative aspects to it. Starting with the positives, owning a
house
would be an ideal situation for a family for multiple
reasons
. Not only would it provide a stable home for the children to grow up in and make friends, but it would
also
help them when they are adults, as their parents would leave them a valuable property, which
consequently
could give them financial stability.
On the other hand
, owning a
house
is very expensive,
hence
,
people
would have to work for long hours in order to make enough money.
This
could lead to a stressful life and an unhealthy work-life balance. In conclusion, there are various
reasons
why
people
would choose owning a home over renting it,
such
as a stable environment and a future investment. Despite the pros of
such
an arrangement, especially for a family with children, there is the disadvantage of an unpleasant work-life balance.
Submitted by aymanshabakaa on

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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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