In some Countries, owing 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?

Having a good place to live
in
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apply
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entails making crucial decisions
of
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about
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whether
renting
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to rent
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or
buying
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buy
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a
property
. In many parts of the world, buying a home is very essential than leasing for two reasons.
First,
it is cheaper and
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second
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secondly
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,secondly
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it provides a
sense
of ownership.
This
essay will
further
discuss these reasons and why
this
is a positive situation. In some countries
such
as Australia, renting a
house
is cheaper than leasing one. Statistics
indicates
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indicate
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that paying rentals can cost about $800 per week. But paying for
mortgage
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a mortgage
the mortgage
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of $800,000 can save a fair bit of
money
every year.
On the other hand
, spending
money
on rentals does not build equity it only helps pay off the
property
owners’ mortgage.
Although
expensive it may be,
owing
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owning
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a home is a better option that ends up being cheaper in
a
Correct article usage
the
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long run.
Secondly
, living in a home
that is
yours provides a
sense
of satisfaction of possessing
a
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apply
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property
.
This
also
means that
people
are free to do whatever they wish to make it a dream
house
.
For example
, they do not have to worry about the lease contracts, bond payments and other costs associated with renting.
Additionally
, it provides a
sense
of security knowing that the apartment is yours and do not have to worry about eviction notices. Having a
property
gives full control and helps with having
a
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apply
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peace of mind. One of the reasons why
this
situation benefits residents is that it forces them to save up
money
. Thinking about buying an apartment or
house
motivates
people
to get
finances
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their finances
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in order. They gain the discipline
that is
required to stick to a budget to be able to save the needed down payment. To illustrate, a recent study shows that
property
owners have better saving habits. Most of the landlords pay more than they are required on their mortgage.
However
, being the owner of a
house
allows
people
to shift their focus from saving for the month’s rent to saving for the future. In summary, many
people
around the world choose to purchase their accommodation. Not only does
this
provide a
sense
of ownership but
also
it is cheaper.
This
is a positive situation because it allows
property
owners
save
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to save
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more
money
than they could if paying rentals.
Submitted by deborahmmunengami 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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