In some countries, most people prefer to rent their homes rather than buying them. What are the advantages and disadvantages of renting a home?

In certain geographies, individuals believe in renting their
accommodation
rather than purchasing. We will discuss
pros
Suggestion
the pros
and cons of renting a
place
.
However
, it’s a trade off decision based on certain factors like location, family
income etc
Accept comma addition
income, etc.
income etc.
which decide a preferred option between renting
vs
Suggestion
v's
purchasing
home
.
Firstly
, the most important benefit of renting a
place
is, it doesn’t involve any upfront capital investment.
This
will lead to improved monthly savings as well as avoiding additional interest liability towards bank loans. Individuals can invest
such
additional savings in other financial instruments
such
as mutual funds, bank fixed deposits which extends assured returns.
Secondly
, renting a
place
provides a flexibility to people to change their locations based on need. People employed
on
Suggestion
in
transferrable
capable of being moved or conveyed from one place to another
transferable
jobs
are tend
Suggestion
tend
are tending
to change their locations frequently.
On the contrary
, renting a
place
will certainly have few drawbacks. Staying in rental
accommodation
will need to require entering into certain periodic transactions like agreement renewal, fixed escalation on monthly rents which
tanents
someone who pays rent to use land or a building or a car that is owned by someone else
tenants
can’t control.
Also
, people staying in
rental
Suggestion
rented
accommodation
are not tend
Suggestion
are not tending
don't tend
do not tend
to invest
into
Suggestion
in
non-movable households like fixed furniture and other
kitchen-wares
hardware utensils for use in a kitchen
kitchenware
. While we discussed
advantages
Suggestion
the advantages
and disadvantages of renting an
accommodation
, the decision of buying or a renting should depend on factors like location of stay,
family
Suggestion
the family
a family
earning and tenure of stay. In certain developed nations like
US
Suggestion
the US
and
Canada where
Accept comma addition
Canada, where
home
loan interest
are
Suggestion
is
very nominal people may choose to purchase a
home
if they intend to stay at
specific
Suggestion
specific places
a specific place
place
for longer duration. The per capita income is
also
significant in
such
developed countries.
However
,
situation
Suggestion
the situation
is developing countries is completely opposite. Developing nations are encountering low per capita income and high interest rates. To conclude, staying in a
rental
Suggestion
rented
accommodation
is having pros and cons.
However
, individuals are required to take informed decision based on the factors discussed above on whether to
stat
continuing or remaining in a place or state
stay
in rented or owned
home
.

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    • Sentence 1 - Background statement
    • Sentence 2 - Detailed background statement
    • Sentence 3 - Thesis
    • Sentence 4 - Outline sentence
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    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
    • Sentence 4 - Conclusion
  • Paragraph 3 - Second supporting paragraph
    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
    • Sentence 4 - Conclusion
  • Paragraph 4 - Conclusion
    • Sentence 1 - Summary
    • Sentence 2 - Restatement of thesis
    • Sentence 3 - Prediction or recommendation

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Essentional vocabulary list for IELTS Writing 7+

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Topic Vocabulary:
  • financial commitment
  • down payment
  • initial costs
  • allocate resources
  • maintenance costs
  • mobility
  • relocate
  • market fluctuations
  • property value
  • building equity
  • appreciate in value
  • asset
  • personalization
  • restrictions
  • rental increases
  • lease renewal
  • financial instability
  • housing budgets
  • long-term security
  • landlord
  • lease agreement
  • equity
  • substantial
  • property ownership
  • property market
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