In Some Countries, Owning A House Rather Than Renting One In Very Important For People | Band 7 IELTS Essay Sample
In some countries, owning a home rather than renting one in very important for people. Why is this the case? Do you think this is a positive or negative situation?
Here is a band 7 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 7 IELTS essay sample
Citizens of some countries think that buying a house is much more beneficial than renting one. In this essay, I will explain why the obsession with home ownership is not always beneficial for people.
People in general love to be independent and it is a dream come true for them to buy a place of their own. It is a place where they can spend time with their near and dear ones without others’ interference, and this might not be entirely possible in a rented apartment. Secondly, owning a home is associated with higher social status especially in this age of social media where people showcase their homes for all to see and admire.
However, I believe that buying a house, especially in today’s scenario does more harm than good. To begin with, buying a house in recent market conditions hardly makes good financial sense due to the exorbitantly high land prices. A market survey in 2021 revealed that over 70% of the working class in India are laden with debt and will fail to clear the loans disbursed to them for buying their dream homes. Lastly, owning a property entails its maintenance charges and huge recurring costs like electricity bills, repairs, etc. In the event of a person shifting to a different location for their jobs, the immovable assets become nothing more than a liability.
In conclusion, the younger generation’s need for a place of their own and the prestige associated with it are the factors leading to the trend of buying a home. However, the enormous upfront investment, running costs as well as the fleeting and transferable nature of today’s jobs make the idea of owning a house less advantageous.