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?
Having a dwelling is inevitable for living beings to live a good, safe and secure life. People across the world inhabit different kinds of accommodations according to their personal preferences and affordability. In certain nations, people prefer possessing an abode instead of living in a rental one. It is a positive development and the reasons behind this flourishing trend will be discussed in the upcoming stanzas.
To begin with, homeownership is the dream of almost everyone who wishes for stability and comfort in life. People prefer to invest in their own homes rather than spending entire lives in rented accommodations as it is a symbol of accomplishment as well as status. Moreover, the market value of a house is likely to grow with time, so it’s discreet to pay some down payment by saving an amount and then to pay instalments for it rather than giving away monthly rent for a place that will never be theirs. With every EMI one pays, their home equity goes up. Also, people get rid of the fear that they might be untimely terminated off the property by landlords. Many finance options are available nowadays which have eased the process of buying a home.
It is a positive situation as a family gets their private space and can feel protected and cosy. People do not have to face various hassles like renewal of rent agreement, giving away deposits in advance for security which can be extremely high in posh locations, especially in metropolitans. Furthermore, one can make whatever changes they wish to make in their house without seeking for anyone’s approval and can have complete authority over it. Last but not the least, tax deduction and capital gains exclusion are also two vital perks of owning a place to live. In countries like the U.S., people deduct some of the expenses of owning a house from the taxes they pay to the government and eventually when they sell their home, the law allows them to keep profits up to a certain amount without paying any taxes.
To sum up, home is much more than just four walls and a roof. It is a place where one builds memories and ignites numerous thoughts and feelings. It indeed is a shrewd decision to make a lifetime investment because it secures the future of the entire family.
Vocabulary:
dwelling: a place where people reside
inevitable: a thing that certain to happen
inhabit: live in
abode: a home to live
stanzas: a group of lines
accomplishment: a thing that is achieved
discreet :
home equity: the price of a house when is sold
cosy: a comfortable space
shrewd: a good judgement
