Some people prefer to rent accommodations while others buy their own home. Does renting a house or apartment have more advantages than buying one?

Few believe renting a home is better than buying one of their own. I believe, renting an accommodation is safer and profitable than owning a one. Let’s discuss both the advantages and disadvantages of

this

topic in the below passage. Buying a house has a few advantages in the sense of holding a secured property in the hands. The property will be helpful for applying a loan from the Banks and Insurance companies with a reasonable amount of interest by keeping the documents as a security. Having a house of our own

also

reduce the hassle of paying rent every month and eliminates the pain of rules imposed by the owners.

For example

, My manager recently has purchased a villa of his own and enjoying his life by swimming in his private pool and partying every week with his close relatives. On the other end, Renting has more advantages than buying a new one. Living in a rental accommodation

instead

of buying keeps the person in a safer position. Purchasing a house may lead to many problems if there isn’t enough money to invest or opting a loan for it requires a person to pay the instalment amount for several years which is very troublesome. A survey report from Bloomberg stated that more than 30 percent of the people suffering to pay the monthly loan instalments and 20 percent of them already filed a bankruptcy to relieve from the burden. One of my friend diversified his saving's in mutual funds and commodities

instead

of buying an asset for living, consecutively every year he is now seeing 25% margins in returns. To conclude, even though few people has interest to buy a home, it’s always better to go for a rental accommodation which reduces a lot of burden on their own shoulders. People opt for rent not have the authority, but it at least save’s money in the pocket.