In some countries, most people prefer to rent their homes rather than buying them. What are the advantages and disadvantages of renting a home?

Renting things is becoming very common practice these days. In some countries, most people only prefer to rent their homes

instead

of buying them.

This

essay will discuss the advantages and disadvantages of doing so. There can be two primary advantages of taking

house

Suggestion

a house

on lease.

Firstly

,

this

is very convenient as a person doesn't have to worry about anything. Jobs nowadays demands transferring the employee's from one city to another, so

this

becomes a very easy solution.

For example

, the folks working in government organizations

needs

Suggestion

need

shifting

Suggestion

to shift

every 3 to 4 years,

hence

they cannot buy a

house

and settle in

single city

Suggestion

a single city

the single city

single cities

.

Secondly

,

this

is more cost effective than getting a

house

on

Suggestion

in

your name because in

this

case you only have to pay the rent than giving a

lumpsum

Suggestion

lump sum

amount to the seller. Indeed, in a recent survey by the Times of India newspaper, only 40% of the folks believe in buying a

house

. Overall, leasing is a much simple and light on your pocket experience than purchasing.

On the other hand

, there can be some disadvantages

also

for getting

house

Suggestion

a house

on

Suggestion

for

lease.

Although

, it is

convenient but

Accept comma addition

convenient, but

the property is not yours so tenants can be asked to vacate with a single

month

Suggestion

month's

notice.

For instance

, mostly the owner of the

house

keeps visiting and once they find a point to blame, tenants could be asked to vacate immediately with a legal notice. The other main demerit is, with increasing demands of

accommadation

making or becoming suitable; adjusting to circumstances

accommodation

, the amount someone pays to the owner has come much closer to the bank EMIs for housing loans. A recent survey showed the masses are more inclined on taking loans for their homes than they were in the past. Even though

lease

Suggestion

the lease

is on trend but sometimes purchasing your on home becomes a good option. In conclusion, as much as paying rent for your home is cost efficient and convenient still people likes to have their own

house

or apartment.

This

essay discussed the positive and negative points of living in a rented apartment and having one's own

house

.