In Some Countries Owning A Home Rather Than Renting One Is Considered More Important

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Sample essay

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 trend of buying property is largely positive but it depends on the financial situation of the buyer.

A house is an asset whose value will increase over time. In many countries, 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, this is largely a positive development because a home is an asset whose value will only increase over the years. Although it takes a lot of money to buy a home, this is a worthy investment. However, if people are under pressure to own a home, it becomes a negative development. Families should always consider their financial situation before investing in a home. Also, in some cases, renting is actually better. For example, people who have transferable jobs may find renting more convenient than buying.  

To conclude, buying is certainly better than renting because of the opportunity to build equity in your come. Of course, it depends on the financial situation of the buyer. People who can afford to buy a home should definitely do it. Those who cannot afford it should not feel bad about their inability.