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

Renting a

house

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is considered a better choice in some countries by many people. It is difficult to understand the reason behind the option chosen. Renting possibly is easy as more savings could be possible. More choice is available with flexibility in amount of rents, location

,

Accept space

,

convenience and to relocate. On the other end buying a

property

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turns out as an asset to the person for life. Both the options have their own advantages and disadvantages. The possibly understood advantage of buying a

house

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,

instead

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of renting could be adding asset to

money value

Suggestion

the money value

by

Suggestion

of

having a concrete value for the money invested. The market value of

property

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increases regularly and

there by

by that means or because of that

thereby

the amount invested in purchasing the

house

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increases. A

house

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could possibly be transferred as heritage to the

next

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generation too. Profit in the investment is gained with time. It is

also

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possible to sell the

house

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if required for any reason. Buying a

house

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can be considered as

an

Suggestion

a

stable

increment

Suggestion

incremental

investment. There could be some considerable reasons for renting a

house

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in-stead

in place of, or as an alternative to

instead

of buying. People today travel to other countries for education, work and holiday. People coming to a country for a short time prefer to

rent

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as the duration of their stay is not confirmed, so renting a

house

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is more easy and comfortable. As well, there are countries where foreigners are not allowed to purchase any

property

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. In

this

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case too they have to

rent

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a

house

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as the option of permanent

property

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is not available. Cost of living, duration of travel to work area, education and taxes to be paid

also

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refrain a person from buying a

house

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and renting is opted which can be comfortable and time saving. Rented houses

also

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reduce the responsibilities in personally maintaining the

house

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. There are

also

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disadvantages of renting a

house

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. There are possibilities of short notice from the landlord to vacate the

house

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. The

rent

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of the

house

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increases at regular intervals. There are restrictions on the style of living.

Maintance

Suggestion

Maintenance

charges could be high. The said amount of

rent

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should be paid on the date agreed by both parties. Pre cancellation of

agreement

Suggestion

the agreement

is not accepted in some cases and can turn as a burden. The choice of an individual to

rent

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or buy a

house

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depends on various terms and conditions. Renting turns out to be more suitable in some cases and

also

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becomes disadvantages in some cases.