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

Renting a

house

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

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

,

instead

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

increases regularly and

there by

by that means or because of that

thereby

the amount invested in purchasing the

house

increases. A

house

could possibly be transferred as heritage to the

next

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

also

possible to sell the

house

if required for any reason. Buying a

house

can be considered as

an

Suggestion

a

stable

increment

Suggestion

incremental

investment. There could be some considerable reasons for renting a

house

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

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

house

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

property

. In

this

case too they have to

rent

a

house

as the option of permanent

property

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

also

refrain a person from buying a

house

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

also

reduce the responsibilities in personally maintaining the

house

. There are

also

disadvantages of renting a

house

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

house

. The

rent

of the

house

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

Maintance

Suggestion

Maintenance

charges could be high. The said amount of

rent

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

or buy a

house

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

also

becomes disadvantages in some cases.