Some People Prefer To Rent Accommodation While Others Buy Their Own Homes | Band 8 IELTS Essay Sample
Some people prefer to rent accommodation while others buy their own homes. Does renting a house or a flat have more advantages than buying one?
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
Finding accommodation, especially in big cities, is a huge, time consuming task. Some people rent a flat and are happy with that, while others prefer to purchase their homes. Both options are good in certain situations and we have to analyse every aspect before deciding what to do.
A person coming to a big city for education or job has to find accommodation as soon as possible if he does not have anyone to help him out. Renting an apartment or house is an easy way out as there are many options to suit your needs. Renting is more suitable for someone who has just started earning. Renting also makes it easy to move to another place. Yet another advantage is that you can easily upsize or downsize. When your income increases, you can rent a bigger home. Likewise, if you lose your job, you can find a smaller home that fits your budget.
On the flip side, buying is more advantageous if you want to stay in a particular place for various reasons. If you have a permanent non transferable job, or run your own business then this is the right option for you. Some people who are staying temporarily also purchase a property as an investment. The logic behind the decision is that they would rather pay money towards a loan monthly than pay rent and at the end, they can own a property. Even if they move out of that city, they can rent their place to a tenant and it would help them in paying back the loan. The tax benefit due to home loan is the added bonus for such investment.
To conclude, the decision to rent or to buy a property depends on a lot of subjective reasons. In my opinion, purchasing a property is more advantageous than renting if you do not have any other financial commitment. It will be a good investment with great returns in the future.
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