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?
In many countries, the significance of home ownership is highly appreciated.
This
is because possessing a house
can bring owners
a sense of tranquillity and safety. From my perspective, however
, this
phenomenon has detrimental effects on individuals who pursue this
purpose.
Many people think that houses are costly assets nowadays. With prices rising rapidly each year, having this
real estate can offer owners
a plentiful financial resource. Therefore
, they can leverage this
cash flow to diversify their investment portfolios and attempt to achieve financial freedom later. This
approach will reduce the potential risk of layoffs, leading them to a state of economic security. Additionally
, achieving home ownership early can provide a sense of security, allowing owners
to concentrate on other personal and professional goals without the uncertainties associated with renting. For example
, people who own a house
to rent in the central location of Ho Chi Minh City, Vietnam, can earn more than 15 million VND per month without going to work. This
rental income can offer a comfortable life in this
modern city.
Nonetheless
, serious problems can arise when prioritizing this
target. Firstly
, the intent to own a house
requires a significant fortune. This
means that people with this
goal need to make long-term loans with high interest rates from financial institutions, such
as traditional banks or consumer finance companies. Although
this
strategy can offer borrowers a house
almost instantly, stress and weariness can emerge when dealing with monthly interest payments, negatively impacting their mental health and well-being. Furthermore
, their life experience can be narrowed as they cannot comfortably spend on other services, such
as travel or online courses, to enrich their lives. For instance
, recently, the number of young individuals suffering from sleep disorders and depression after purchasing a new house
significantly increased in Vietnam because of great expenses, including living costs and loan payments each month.
In conclusion, owning a house
can help owners
head towards financial independence because of the high profit of this
asset and bring them a sensation of peace in their spirits. Having said that, I believe that this
trend is negative as individuals must experience a feeling of anxiety due to
the monthly loan payments required to purchase a home, alleviating the quality of life satisfaction.Submitted by Mads on
Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Writing9 with appropriate and specific direction to the original content.
task achievement
Ensure that all potential negative effects of prioritizing home ownership are fully explored, considering that not all individuals may experience anxiety or financial strain.
coherence cohesion
Maintain a strong logical flow between sentences to even further enhance clarity.
task achievement
The essay effectively addresses both reasons for the importance of home ownership and provides a balanced view by discussing its potential negative effects.
coherence cohesion
Clear topic sentences and supporting details help maintain coherence and cohesion throughout the essay.
task achievement
The use of specific examples, such as the situation in Ho Chi Minh City, strengthens the arguments presented.
Ultimate Speaking practice for IELTS
Practice speaking step by step, answer real-life questions, and build your confidence. Start your free trial and improve your speaking skills today!