Owning or Renting a Home Essay

by Khang Cao

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?

Everyone needs food to eat, water to drink and a shelter to settle in. In the past, owning a home was a symbol of wealth, success and stability. However, as the modern civilisation advancing, the mindset has changed a lot. Nowadays, there are some people thinking that having a house is no longer important as it was in the past. Generally speaking, renting a house is a rising trend these days, but why there are still people assuming that renting a house is nothing compared to having one?

In many Asian countries, there has always been an invisible pressure put on men since they were born. Those can be academic achievements, success in career via various ways such as being in the top of a school, having a high-paying job or obviously, owning a private accommodation. Because of the conservative ideology, Asians usually consider a house is an indicator of prosperity and high-tier social status, not only for themselves but also for their families and children. Moreover, people usually want to claim ownership, and this is not new throughout human history. Take colonies, for example, people always desire something that they can have absolute control over it. While a rent house may not satisfy your demand because you have minimal rights to do anything you want with it.

As mentioned above, renting a house has some certain disadvantages. Firstly, it is definitely not a long-term investment even though you can avoid mortgage deposit and other taxes, but you will be under the supervision of the landlord all the time. For example, you cannot renovate or redecorate your home at all without the landlord’s permission. Next, if you choose this type of housing, you may take risk of being moved multiple times due to limited vacancies or property sale from the landlord. Last but not least, since the proprietor is in charge, he or she might suddenly raise the rent, and that is a really big issue when you are in the condition of insufficient finance.

Bottom line, possessing a house is better than renting one. Although you may have to be responsible for repairs, remodelling or pay land-related additional fees, it is yours and always be. No matter what happens to you, remember there is always a home awaiting you to come back.

(380 words)

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