IELTS writing task 2. Please help me with this!

Topic: In some countries, owning a home rather than renting one is very important for people.

Why might this be the case? Do you think it is a positive or negative situation?

In some nations, the state of having a house of one’s own is more appreciated than renting accomodation. The reasons for this preference may vary. From my perspective, the significance people place on owning a house can have both negative and positive effects on individuals and the society.

Financial merits and freedom to make use of our possessions are the primary reasons why many people prefer owning a house to renting one. Firstly, renting a house means one has to pay monthly rent which will not bring any financial benefits in return. On the contrary, despite the large sum of money we spend buying a house, we can sell it later if necessary and earn a profit. Secondly, having possession of a house allows of freedom to repair, sell, or rent it. Also, a house renter may face the misfortunes of losing a shelter or having to move away against their will.

That people of some countries think highly of owning a house rather than renting one may have positive effects but can create challenges for each individual and the society as well. People may work harder or find other ways to have sufficient money for a house, which results in their own financial growth and national economic developments. However, the over-emphasis one places on owning a shelter can create a long-lasting burden as the goal of earning enough money for a house may take one years to fulfil.

In conclusion, because of the financial benefits and the freedom to do whatever we like to our house, many people choose buying one rather than living in rental accomodation. This can have a favorable effect on people’s financial status but at the same time can increase the pressure they have in life.