Many people hold the view that it is better to buy their home rather than rent it. Do you agree with this statement or not

There are a lot of
people
considering the view that owning a
house
is much more important than renting it. In my point of view, I agree with that statement and I will write
this
essay to explain why I agree with the above statement. On the one hand,
people
owning a
home
do not have to worry about the landlord nor do they have to pay monthly rent.
Hence
, they can modify their
home
according to
their needs and wants and feel secure in it. For many
people
,their houses are like heaven and so they spend quite a fortune on designing and decorating those. Some
people
,
on the other hand
, consider their
home
as an investment which they expect to appreciate in value in the future. 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 of the middle classes 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.
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Topic Vocabulary:
  • property ladder
  • mortgage
  • rental agreement
  • down payment
  • equity
  • appreciate
  • rental market
  • monthly installments
  • credit score
  • repairs and maintenance
  • landlord
  • tenant
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