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

In many countries, it is becoming increasingly popular to rent an apartment rather than buying it.
This
essay will highlight some of the benefits and the drawbacks of renting an apartment.
To begin
with the positives, a significant advantage of staying in leased accommodation is to avoid high mortgaged, maintenance, and
property
tax. In many countries like India, interest on the home loan is as high as 9% and
in addition
to
this
person
a
lso have
Suggestion
also has
to pay repair cost as well as the
property
tax.
Therefore
, it is more economical and convenient to rent a condominium
instead
of owning it.
Furthermore
, people, these days are more career-oriented and flexible to relocate in different cities for the higher p
aycheck.
financial return or reward (especially returns equal to the initial investment)
payback
This
makes leased
property
a p
refered
more desirable than another
preferred
option for the people to live.
However
, renting a house
also
possess some disadvantages. The most obvious downside is the restriction to renovate. The tenants are not allowed to alter the house according to their choice.
Consequently
, they end-up compromising with their needs.
In addition
to
this
, the rent paid is an additional burden on the pocket rather than an investment. It is an expense as opposed to the mortgage payments that build an asset for the owner.
Thus
, over time, the owned
property
as compared to leased one is an asset with a financial value. In conclusion, despite the benefits of avoiding the need to pay the high-interest rates and maintenance cost, the drawback of limitation to renovate and no return on expenses should
also
be taken into consideration.

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  • such as
  • namely
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