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?

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Citizens in some nations consider owning a
home
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much more important than renting one. Living in a self-owned
home
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gives a feeling of stability, comfort and security. In my
opinion
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,opinion
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whether it is a positive or negative
situation
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depends on many factors. People owning a
home
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do not have to worry about the landlord nor do they have to pay a monthly rent.
Hence
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, they can modify their
home
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according to
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their needs and wants and feel secure in it. For many, the
home
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is like a heaven and so they spend quite a fortune on designing and decorating it. Some people,
on the other hand
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, consider their
home
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as an investment which they expect to appreciate in value in the future. All in all, I feel that whether owning a
home
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is a positive or negative
situation
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is quite subjective, depending on the circumstances of the person. For people who have the money to buy a big
house
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and few financial liabilities, their
house
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is an asset and owning a
house
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is a positive
situation
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for them.
However
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, most of the
middle class
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middle-class
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families buy a big
house
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which is often out of their budget. They fund
this
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by taking out huge loans and end up repaying the amount over a very long time.
This
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increases the interest they have to pay.
In addition
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to
this
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, they have to pay property taxes and insurance which are directly proportional to the area of a
home
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.
Furthermore
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, the electricity and maintenance costs get added to their everyday expenses.
To conclude
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, I feel that owning a
home
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can be a pleasurable experience if done within a budget.
However
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, it could turn into a negative
situation
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when a person buys a
home
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by getting a loan
that is
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way beyond his repaying capacity.
Submitted by nttung.182 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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