In many countries, people would rather rent a house instead of buying one. Describe the advantages and disadvantages of both.

In many countries, residents prefer purchasing their own home.

However

, in others they choose to

rent

their accommodation to minimise the unwanted burdens

such

as

property

taxes and a mortgage interest rate. Renting a place would certainly aids people with the flexibility of moving out anytime along with eliminating the cost of maintenance of the

property

, but there will

also

be some drawbacks.

To begin

with, those who opine that renting an accommodation is advantageous can easily point out its flexibility and affordability.

That is

to say, it gives a freedom to an individual to move in any part of the world according to their job requirements

which

Accept comma addition

which, otherwise

otherwise

, is

bit

Suggestion

a bit

difficult if the person owns a place.

Additionally

, owning a

property

always comes with a variety of unwanted

expenses including

Accept comma addition

expenses, including

property

tax, mortgage interest rates and the maintenance cost, which sometimes makes the survival difficult if people lose their job or went into the financial crises.

For instance

, according to the New York Times an average householder in the United

states

the federal department in the United States that sets and maintains foreign policies

States

pays 10,000$ as a

property

tax and 10-12% interest on mortgage yearly and a lot of them have to sell their houses in order to meet with the crises of the Corona Virus.

On the other hand

, there are various drawbacks of renting the house.

Firstly

, there is no security as the landlord can ask you to leave anytime, regardless of paying a huge amount of

rent

every month along with paying the fixed deposit of security at the beginning.

Secondly

, one has to follow the strict rules and regulations according to the owner’s agreement.

In other words

, people have to seek permission from the landlord, before organising any event at the home including birthday party or weekend gatherings.

Lastly

, the huge amount of money, wasted on paying

rent

, could be utilised in buying own

property

, so that people do not have to worry about the retirement. In conclusion,

although

renting a house seems beneficial due to the low

rent

costs and the freedom to shift the place anytime.

However

, there are some drawbacks

such

as security concerns and strict regulations that need to be considered before choosing the type of accommodation.