People 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?

Sample Answer

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.

Phân tích từ vựng

Landlord: chủ nhà cho thuê

Financial liabilities: nợ tài chính

Asset: tài sản

Middle class families: gia đình trung lưu

Huge loans: những khoản vay khổng lồ

Increases the interest: tăng lãi

Directly proportional: tỷ lệ thuận