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Owning a home rather than renting one is very important for people

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IELTS Essay Topic: Housing/Real Estate/Property

In some countries, owning a home rather than renting one is very important for people.

Why might this be the case?

Do you think this is a positive or negative situation.

Give reasons for your answer and include any relevant examples from your own knowledge or experience.

Answer:

Many people desired to own a home as it represent the realization of their individual goals and dreams. Home ownership is means acquiring a place that you can call your own space. Taking a piece of property is both posses a negative and a positive effects, however, I believe that people who owned a home feel more secured and fulfilled in life. 

While constructing or buying a house requires huge up-front amount of money, there are some apparent benefits beyond the allure of having an own permanent place. Firstly, home values appreciate overtime and this can protect someone’s long-term investment plan. This investment can help owners build equity that can be used for future acquisition. Secondly, homeowners has a freedom and control of a certain property. They can change the color of the paint or install anything they wish inside and outside of the structure without asking for permission from someone else. According to Sir Marbonie Lomundag from Simple House in the Philippines, owning a house can provide a feeling of pride and a sense of accomplishment. 

Obviously, living in own house has myriad of advantages both personal and social aspects in life. But, home ownership can also led to more financial stresses due to high advance costs and other expenses prior moving. Most people, for example, will take up housing loan payable in 30 years with monthly contribution depends on the amount of down payment. It means some buyers need to work for years until the mortgage become fully paid. With this burden, many homeowners may struggle to find breathing room in finances from their monthly paychecks. 

In conclusion, becoming a homeowner can be both a negative and a positive undertakings. Staying in a rented home sometimes beneficial to people, but in view of the above mentioned factors. I think there are more positive rewards of becoming a homeowner than dealing with unresponsive, insensitive landlords.

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2 replies »

  1. Owning an own house is more beneficial than renting, the cost of rent is already a cost of monthly amortization which will become your future home. In renting, it’s the owners who mostly benefits from your rent. When you start to work, make owning a house a priority goal

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