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

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Renting things is becoming very common practice these days. In some countries, most people only prefer to rent their homes
instead
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of buying them.
This
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essay will discuss the advantages and disadvantages of doing so. There can be two primary advantages of taking
Use synonyms
house
Suggestion
a house
on lease.
Firstly
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,
this
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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
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becomes a very easy solution.
For example
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, the folks working in government organizations
needs
Suggestion
need
shifting
Suggestion
to shift
every 3 to 4 years,
hence
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they cannot buy a
house
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and settle in
single city
Suggestion
a single city
the single city
single cities
.
Secondly
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,
this
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is more cost effective than getting a
house
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on
Suggestion
in
your name because in
this
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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
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. Overall, leasing is a much simple and light on your pocket experience than purchasing.
On the other hand
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, there can be some disadvantages
also
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for getting
Use synonyms
house
Suggestion
a house
on
Suggestion
for
lease.
Although
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, it is
convenient but
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convenient, but
the property is not yours so tenants can be asked to vacate with a single
month
Suggestion
month's
notice.
For instance
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, mostly the owner of the
house
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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
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or apartment.
This
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essay discussed the positive and negative points of living in a rented apartment and having one's own
house
Use synonyms
.
Submitted by preetimittal1492 on

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Topic Vocabulary:
  • financial commitment
  • down payment
  • initial costs
  • allocate resources
  • maintenance costs
  • mobility
  • relocate
  • market fluctuations
  • property value
  • building equity
  • appreciate in value
  • asset
  • personalization
  • restrictions
  • rental increases
  • lease renewal
  • financial instability
  • housing budgets
  • long-term security
  • landlord
  • lease agreement
  • equity
  • substantial
  • property ownership
  • property market
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