In some countries, many people prefer to rent a house than buying one. Describe the advantages and disadvantages of renting.

Residents in various countries opt to rent

instead

of buying a house. Renting a

home

comes with advantages,

such

as freedom, no maintenance, and little upfront investment, and disadvantages, like no retirement savings and lack of stability. On the one hand, renting an apartment to live has a number of benefits.

Firstly

, renters have no long term obligations towards their rented property.

This

gives them the freedom to move and relocate to different cities or even nations; without requiring long term commitments.

Secondly

, landlords are responsible to maintain and upkeep their properties.

Therefore

, an individual who is living there

on

Suggestion

in

the rent can call the owner when something is broken or requires maintenance work.

Finally

, a significant amount of money, when purchasing a

home

, is required by banks as a down-payment for a

home

loan.

This

money can be used for more experiential things;

for instance

, travelling or securing an advanced degree. While,

on the other hand

, becoming a homeowner is advantageous in its own unique way. Mainly, if someone chooses to rent for their entire life,

then

they forgo the opportunity to invest in their retirement savings. Most retirees, as an example, have a considerable portion of their savings invested in

home

equity.

Thus

, people who do not have

home

equity built up struggle to make ends meet later in their life.

Additionally

, one of the luxuries of

home

ownership is peace of mind due to stability. Because homeowners do not have to vacate their homes unless they want to, they can make long term plans for

thier

of them or themselves

their

families' future. For these reasons, owning a

home

is a dream for many middle-income families. In summary,

rentig

the act of paying for the use of something (as an apartment or house or car)

renting

an

Suggestion

a

condo, could be beneficial to younger demographics who like to travel and has not saved

enoug

as much as necessary

enough

money to purchase a

home

; while, owning a

home

is

sutiable

meant or adapted for an occasion or use

suitable

for people who wants to start their families and settled down in one place.