In Some Countries Owning A Home Rather Than Renting One Is Considered More Important | Band 8 IELTS Essay Sample
In some countries owning a home rather than renting one is considered very important. Why might this be the case? Is this a positive or negative development?
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Band 8 IELTS essay sample
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 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 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 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.
Band 7 essay sample
No one in the right mind can contest the argument that owning a house is better than renting it. I am inclined to believe that owning a place to live in is the most important part of life.
To begin with, I truly believe that buying a property is the best investment, no matter which country you live in. However, it is more challenging to buy one in some countries like Iran as you need to pay the whole price in cash. In countries such as Canada the economy is strong enough to provide loans for buyers. Therefore, one could purchase a property with a small down payment and pay the rest of the amount as monthly instalments. Another paramount factor that needs to be considered is that rents tend to increase year after year and this means stress and anxiety for people who live in rented places. They have to cut out some expenses to meet the ends. Ultimately the life quality decreases day by day and thus life dissatisfaction increases. People feel more secure in their owned property as they do not have to deal with the aforementioned problems.
On the other hand, buying a house or an apartment would be stressful for some people as they cannot afford it. If we consider this matter as an important aspect of life for everyone, it takes away joy from some people’s life. They struggle all their life to own a property without enjoying a bit of it.
On the basis of aforementioned reasons / reasons mentioned above, I am convinced that people should invest their money in a property if they can afford it rather than waste it on rents. However, it is not applicable to everyone’s lifestyle.
Band 7.5 IELTS essay sample
In certain parts of the world, people prefer to a buy a home rather than rent it. This is mainly because an owned home is an asset that people can be proud of. In my opinion, this is largely a positive development because owning property is a good way of investing your money.
A house is an asset whose value will increase over time. Owning a home can enhance your social standing. In my country, India, for example, people who live in rented homes are considered poor. Another advantage of buying is that you can pass down the property to your children. There are several other advantages too. You do not have to move frequently. You can design the space according to your preferences. None of this is possible if you live in a rented home.
In my opinion, the importance attached to home ownership is largely a positive development. A home is an asset whose value will only increase over time. By contrast, you have no equity in the home lease despite paying rent every month. Of course, if people are under pressure to own a home it does become a negative development and in my opinion such tendencies should not be promoted.
In conclusion, the emphasis on buying a home is by and large a positive development as it is a wise way of investing your money. However, putting people under pressure to own a home is certainly not a good idea. Hence, I believe that people who can afford to buy a home should definitely do it. However, those who cannot afford it should not feel bad about their inability.