In some countries, people prefer to rent a house for accommodation, while in other countries people prefer to buy their own house. Does renting a house have more advantages or disadvantages than buying a house?

In

this

contemporary world, renting of an apartment is considered a better option in a

few

Suggestion

fewer

countries, rather than

owing

have ownership or possession of

owning

it. In my opinion, it has more apparent benefits in the form of less financial strains and smooth relocation for a job, than the negligible deficit of economic insecurity at the retirement age. One of the reasons that renting is a more practical option is that tenants have to pay fixed amounts of rent every month irrespective of any fluctuation in property rates or maintenance costs.

Also

, any surge in mortgage rate or taxation has no direct impact on the renting person, enabling him to make his monthly budget, even with a fixed monthly income.

For example

, recent figures published by the Canadian Immigration Office have shown that most immigrants have rented apartments in Canada to avoid bank interest rates and taxation.

Secondly

, in

this

era of advancement, everyone wants to excel in his field, and they have to switch jobs in

this

regard, but possession of a home can prove the biggest hurdle in their relocation. People have to turn down opportunities of their lives, just because they are not able to shift to other cities, leaving their property unsupervised.

For instance

, statistics from the Punjab Health Department have shown that 60% of recruiting doctors have refused to leave Lahore and join in peripheries as

they

of them or themselves

their

own houses and not willing to go to their families. Those who oppose

this

idea state that it is always better to have some savings for the old age, and nothing can be more satisfying than possessing a home. It is everyone’s dream to have a peace of mind in retirement age, and the personal property instills the sense of financial security.

For instance

, The House Building Finance Cooperation Pakistan has seen a remarkable increase in house loans in recent years, indication interest of people in building their personal properties.