The essay in this video was written by IELTS Examiner C. This question was seen recently in Sydney:
These days many people prefer to rent rather than buy their own house. Why is this this so? Discuss the relative advantages and disadvantages of renting or buying, and give your own opinion.
Give reasons for your answer and examples from your personal experience where appropriate.
Here is the essay as it appears in the video:
In most major cities in the west, people are opting to rent a home instead of buy. This is mostly because house prices have increased dramatically while personal income has not, a trend that means mortgage repayments now account for a much larger share of income than in the past. Renters have more disposable income every week than buyers and this is a big attraction. However, in my opinion, this is a false economy and in the long run I believe that the advantages of buying a property greatly outweigh the short-term savings to be made by renting.
While it is certainly cheaper week-by-week to rent than pay a mortgage, the renter misses out on the large capital gains to be made when buying a home. When I took out my own mortgage on my two-bedroom apartment, my repayments on a $400,000 loan were about $600 a week, compared with $500 for rental value on a similar property. However, over the past three years my apartment has appreciated by more than $250,000, greatly outweighing the $15,000 I would have saved by renting. In addition to this, my mortgage payments secured an acquisition of property that will remain valuable for my family into the future. Financial growth of this sort is not possible through renting.
Renters do not only lose out on capital gains, they also lose in terms of security and peace of mind. The roof over their heads once their lease is over is always at the mercy of the landlord, who might at any time decide to sell the property. The landlord can also put up the rent when they feel the market warrants it. Further, unless the renter invests their savings judiciously, the money they save will be frittered on day-to-day life, leaving them very much poorer than the buyer once retirement looms.
In conclusion, while a first mortgage will cost more each week than renting, the advantages of buying, including capital appreciation and housing security, greatly outweigh the short-term savings to be made by renting.
Buy my ebooks:
Thanks to ‘Examiner C’ for this model. Here is the essay as it appears in the video:
Many people think that public celebrations (like national holidays, festivals, etc.) are a waste of money and that the government should spend these funds in a better way.
Do you agree or disagree?
Give reasons for your answer and examples from personal experience where appropriate.
National holidays cost countries and their governments a lot of money. Wages need to be paid to employees despite their absence from work, and a national loss in productivity is experienced. For these reasons, some people suggest governments do away with holidays and instead spend the money on worthy projects. While this might seem at first to be a practical suggestion, I disagree strongly for a number of reasons.
Firstly, it is axiomatic that a country’s production of goods declines when workers are not working; however, this is a tiny part of a much larger economic picture. Productivity is a function not only of hours worked but also of energy, drive, and morale. Thus, national holidays, which give workers a chance to relax and to celebrate aspects of their country and their lives, make for a happier and more productive workforce. In Australia, for example, the long weekend is a tradition that helps to unify society by making all feel rewarded and valued in a common enterprise and identity. It is for these reasons that labelling public celebrations ‘a waste of money’ cannot be supported.
Further, having the financial means to start new national projects is a good thing, but the question of apportioning funds in a manner that an entire society agrees is ‘a better way’ is simply unrealistic. A further consideration is the ramifications of pressure put on workers to work 52 straight weeks a year, a policy that could lead to stress-related illnesses and serious social problems. As this shows, the cancelling of public holidays and redirection of funds is an implausible suggestion.
In conclusion, I must affirm that while it is tempting to realise the short-term increase in productivity and savings that would result from abolishing public holidays, the overall cost greatly outweighs the gains.
Buy Ryan’s Task 2 ebook (2017 version!) Click the Table of Contents to see what’s inside:
$19 USD!Get an automatic email delivery in two minutes:
Did you know I have ebooks for both modules of IELTS Writing? Have a look: http://ieltsielts.com/study-with-ryan/