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.

2 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.

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