In some countries, owning a home rather than renting one is very important for people. Why might be this the case? Do you think this is a positive or negative situation?
Sample 1 Owning a Home Rather Than Renting One Is Very Important for People
In today’s modern world, to accomplish the basic necessity of having a shelter, a common man prefers the possession of a house instead of a tenancy. Although the prices of houses are skyrocketing, the ownership of a home, in my opinion, provides a sense of financial stability and security to an individual in some nations and thus certainly is a positive trend.
To commence with, there are many reasons why people usually have a keen inclination towards owning an apartment or a house. Primarily, as compared to certain terms and conditions in rented accommodation people enjoy living freely in their own homes. For instance, abiding by the stringent rules of the landlords as well as facing difficulties from shifting one occupancy to another which incur heavy losses to the household articles. In contrast, if a person resides in his private property, he can enjoy his freedom at the utmost level. Moreover, investing the finance in a residential space makes a person feel more secure for his future as well as his family. As a result, every person puts his efforts to the extreme to save the maximum from his income to purchase his dream house and get out from the cumbersome life of being a tenant.
According to my perspective, this is indeed an advantageous situation because of numerous causative factors. Predominantly, while having the possession of a domestic property offers a person to grow personally and professionally. This not only strengthens a great family bond amidst the family members but also feels satisfied with investing appropriately in his house and can work more productively with a stress-free mind. Additionally, the liability of frequent payments for the rent also drops significantly. According to a recent survey conducted by the Ministry of Human Resource Development (MHRD), USA, in June 2019, revealed a report about the significant rise in the prices of apartments in many countries has urged many people to buy their own apartments.
In conclusion, I firmly believe that while considering the possession of a house, the factors of stability and safety are indispensable; it is undeniable that it is indeed a beneficial trend.
Sample 2 Owning a Home Rather Than Renting One Is Very Important for People
In recent years, the number of residential property buyers has soared with an unmatched speed. In my opinion, this is an adverse development and I will explain it in this essay.
One of the key reasons why owning a property is preferred is due to the appreciation of the price in a short period. Consequently, more people can make money investing in houses. Everyone involved in the process makes money, for example, the seller, the commission agent, municipal office, and also the buyer by reselling the property. However, there are potential risks here if financial institutes are involved. This will result in impacting the global economy if people default the loans. Also, this will create a virtual inflation scenario and increase the burden on the people who genuinely need housing, and impede their growth.
Moreover, another reason is that statistically the majority of house buyers using bank loans are in their thirties or forties. They want to get over with the house owners prior to their offspring is ready for college education. As a result, they could use the house as the mortgage for education loans or at least avoiding house rent payments alongside college fees.
Sense of belonging and social status are also essential reasons for owning a house. A number of people consider rented houses as stop-gap arrangements and strive to own a house, consequently, they can live the way they want. In numerous circles, match-making is challenging if a groom could not afford his own house. This is leading to a stressful situation as people ought to work on tedious jobs to fulfill the commitment even their physique and psyche are affected.
In conclusion, it can be comprehended that aspirants who want to own a house for various reasons such as profit, better lifestyle, sense of ownership, or social obligation, therefore, property price is increasing. This trend would be insidious to both economic growth and individual well-being. Personally, I think this is a negative development.