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Writing Task 2 in Some Countries

In some countries, people prioritize home ownership over renting due to the stability and long-term financial planning it offers. However, this trend can be negative as home ownership involves low liquidity and limits flexibility in housing choices. Consequently, individuals may face undesirable outcomes if they make unwise purchasing decisions.

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20 views1 page

Writing Task 2 in Some Countries

In some countries, people prioritize home ownership over renting due to the stability and long-term financial planning it offers. However, this trend can be negative as home ownership involves low liquidity and limits flexibility in housing choices. Consequently, individuals may face undesirable outcomes if they make unwise purchasing decisions.

Uploaded by

jimoh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Writing Task 2 In some countries, owning a home rather than

renting one is very important for people. Why is this the case?

Do you think this is a positive or negative situation?

Sample Answer:
People in some countries now consider owning a home to be more important
than renting one. This essay will discuss the underlying reasons for this
preference and elaborate on why it is a negative development.

There are two main reasons for people’s preference for home ownership.
First, for some people, owning a house or an apartment means that they do
not have to waste time on accommodation hunting when a rental contract
expires. Therefore, they can just focus on their career goals or other
important things, such as marriage. Second, nowadays many people buy a
home with a mortgage, and so they know the exact amount of money they
owe and also the regular amount they have to pay. This allows people to
make a clear long-term financial plan for the future. However, this is not the
case when they rent a home because they are subject to changes in the rental
price made by landlords.

The trend that many people value home ownership over rented
accommodation is negative due to the following reasons. Most houses or
apartments have low liquidity, which means they cannot be easily exchanged
for cash. As a result, people who are still redeeming their mortgages may not
be able to spend money on other big investments. In addition, while a tenant
can easily terminate a rental contract and find a new place if they are not
satisfied with their current accommodation, it is very difficult for home
owners to do the same. In other words, once a person makes an unwise
decision and buys a home that they later regret, they are usually left with only
two options: either make the home available for rent or accept living in a
place they are not happy with.

In conclusion, people in some countries now prefer to buy their homes


because they value stability that owning a home provides and want to have
clear future plans. However, unless thorough considerations are made, home
owners may have to face undesirable outcomes from such a decision.

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