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?

Here is a band 8 IELTS essay on this topic written by one of our students. Need help with IELTS writing? Get your IELTS essays, letters and reports corrected by me.

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.

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Manjusha Nambiar

Hi, I'm Manjusha. This is my blog where I give IELTS preparation tips.

6 Responses

  1. Niraj Sharma says:

    People generally consider buying a home as a safeguard instead of living as a tenant, particularly in developing countries. Such a trend is among the public due to the insecurity they feel in renting and the hassle they face frequently moving from one place to another. I definitely believe that it cannot be a positive situation.

    Firstly, living in any nation without a home is a feeling of insecurity as everyone wants to have some kind of home even though it is small. In other words, after having a home, people desire other facilities, for instance, vehicles and furniture. It is usually a heavy and one-off investment decision that everyone longs to. Another important factor that people consider is the hassle in frequently changing places, just like a cat does after reproducing its babies. It can be because of misunderstanding with landlords or just change in any circumstances. Maybe it is not common in the USA or Britain as in Nepal and Bangladesh because of clear contracts that the two parties have in developed countries but such agreement does not take place in developing nations. Moreover, both tenants and owners here usually live in the same place, unlike in western countries. The problem is more intense with regular misunderstandings in terms of pricing, the supply of water and electricity, and other issues. In such cases, it is always the tenant who is in the weaker position and who has to leave the place for some new ones.

    In my opinion, such a scenario can only bring negative consequences to society showing a lack of competition and security. As more and more people strive to buy houses, the price may soar dramatically with a deteriorating effect on other factors of the economy. More importantly, the fund that had to be invested in building the basic infrastructures are curtailed and concentrated in the real estate of the country. As a result, the value of money will decline significantly creating problems of unemployment.

    To sum up, the problem is thriving among underdeveloped countries because of fear of being homeless and this trend hampers the society with little resources for developmental projects.

  2. Anuja Shah says:

    People have the whim of purchasing objects rather than renting them, this is found universally and not limited to any particular race, caste or creed. I will discuss why this might be the case along with the positive side of the situation.
    Owning an asset has altogether a different experience, people get a sense of ownership which is quite significant to the large number of individuals. One more possibility to this situation is that renting might be like a burden for the family, furthermore they might also feel a bit distant from the house since they don’t feel the connectivity as they don’t own it, which should not be the case. There are many more complications like, uttermost care of that object should be taken, not a single blister should be found or one might have to face the consequences. In addition to that, the conditions of the lender must be complied with as well. For instance, when I visited a store to rent a dress, they handed me a list of things to be taken care of, which made me feel quite obligated and I thought purchasing would be a much more easier option.
    Home is altogether a different emotion, it has to be a safe place for every individual. If renting a home is bothered by certain people, they will definitely opt for buying it, be it in monthly installments or with the aid of a loan. I feel it has a positive side, since individuals won’t feel unwelcomed, they get to live on their own terms rather than someone else’s. They are free to move and do whatsoever they would like to. Furthermore, they get to create their own sets of rules and regulations rather than following them.
    To sum up, I believe just for mere satisfaction or sense of belonging people would opt for buying a house instead of renting it which has its own positive side at large.

  3. Louis says:

    It has been suggested that owning a house is essentially important for an individual in this day and age compared to renting one. There are a plethora of reasons for this phenomenon. In the following paragraphs, I will explain some tangible benefits of possessing a house.
    There exist several causes why many people prefer purchasing a house to renting. First and foremost, it is readily apparent that many people are eager to show off their wealth and prosperity. In other words, some believe that owning a house can upgrade their social status to some extent and they oftentimes take pride in the size and the condition of their house. In addition, in modern days, since people are craving for freedom, they are longing to decorate their own house with their style, changing the configuration of the furniture whereas rental houses may have stringent rules imposed by landowners.
    Next, the potential advantages of buying a house should not be underestimated. Firstly, it is obvious that although possessing a house can be stressful at first, it is advantageous in the long-term. This is hugely because owners do not have to agonize over the rents. Furthermore, it should not be forgotten that the number of homeless people can be reduced. This may be due to the fact that even if the homeowner becomes unemployed, at least he has a shelter to live in. Thus, not only does possessing a house decrease the level of concern financially, but it also offers a permanent place to dwell in.
    To sum up, while renting a house can be beneficial in one way or another, it is overshadowed by the merits of owning a house. Therefore, I would suggest people invest in a house as it could bring many multi-faceted advantages according to the aforementioned reasons.

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