In some countries owning a home rather than renting one is considered very important. What are the causes of this? Is this a positive or negative development?

People
in some nations consider owning a
home
much more important than renting one. Living in a self-owned
home
gives a feeling of stability, comfort and security. In my
opinion
Add a comma
opinion,
show examples
whether it is a positive or negative
situation
depends on many factors.
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
a
Correct article usage
apply
show examples
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 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 class
Add a hyphen
middle-class
show examples
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 ranayogesh5050 on

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introduction
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supported main points
Develop your body paragraphs with more specific examples and data to support your ideas. Each paragraph should focus on a single cause or aspect of the discussion.
logical structure
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complete response
Make sure to address both parts of the essay question. Discuss the causes comprehensively and also provide a balanced view on whether it is a positive or negative development, with clear reasons.
relevant specific examples
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Linking words for giving examples:

  • for example
  • for instance
  • to illustrate this
  • to give a clear example
  • such as
  • namely
  • to illustrate
  • take, for example

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Topic Vocabulary:
  • cultural norms
  • symbol of success
  • long-term investment
  • financial security
  • asset appreciation
  • personal autonomy
  • modify surroundings
  • social significance
  • tax deductions
  • generational wealth
  • community engagement
  • housing bubble
  • real estate market
  • economic stability
  • mortgage financing
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