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

In recent times, the trend of

house

ownership has shifted from buying approach to renting. In

this

essay, I will highlight both the benefits and drawbacks of living in a rented

home

.

To begin

with the positives, the

first

crucial benefit of living in a rental

home

is flexibility. The reason for

this

is the occupant can choose a residence to live based on their need.

For instance

, if they prioritize the accessibility to their office as the main consideration, they will

live

go away from a place

leave

around their office.

Besides

flexibility, the

second

advantage of having no owned

house

is to avoid the

house

being idle.

This

is because many workers have a frequent tour of duty from one city to another.

Consequently

, the building will be empty and contribute nothing to the owner.

In addition

, the emptiness potentially makes many micro bacteria destroy the materials from the inside.

Nevertheless

, fully depending on a rental

home

does present some problems. One of the significant issues is the renting price that always climbs up. To illustrate, from the macroeconomic perspective, most product or service prices align with the increase of the inflation rate. The negativity of

this

is the price growth unavoidable. The

second

essential disadvantage is the potential loss of asset value. Based on the investment approach, the asset value can increase by 20% each year, so buying a residence actually can make the owner wealthier. To sum up,

although

renting a

home

might present flexibility and efficiency, it is important to consider the advantages of economic value like profit opportunity. In my opinion, building or buying a

house

is more beneficial than renting it.