TOEFL Essay Topic 185 - You have enough money to purchase either a house or a business. Which would you choose to buy? Give specific reasons to explain your choice.
If I had a large sum of money, I would like to buy a business, instead of a house.Although buying
If I had a large sum of money, I would like to buy a business, instead of a house.
Although buying a house and renting it provide to the owner a considerable sum of money, purchasing a business could more rapidly increase the owner`s wealth. On the one hand a business is more risky and the investment proves not to be profitable, but on the other, owning a business means more advantages for the owner and for the society in which he/she lives. As a result of an investment in a business there is created new jobs, it increases the competition and there is provided new goods on the market. The owner can decide for his/her business to merge with another business if it cannot face the competition or it wants to attract new more customers.
For one thing, buying a house is the best solution because it means an investment on long term with small fixed profit as rent, but for another there are not many alternatives for the owner after purchasing it. He/she can only rent it or sell it also. Besides, a further investment in a house is not so fast recovered with money obtained through renting it.
Taking the right decision of buying a house or a business depends also on the owner`s needs. If he/she already has several houses to rent, he/she will buy a profitable business. On contrary, if he/she has already a good business, he/she could buy a house. But one thing is sure: never, a good businessman will prefer to buy a house instead of having another profitable business.