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

Some people are of the thought that renting homes are a better option, whereas

on the contrary

, others are of the opinion that buying a home is a better plan. In my opinion, the latter one is a better option as it has its benefits in the long run,

however

it has its own drawbacks, which will be outlined in the essay below.

To begin

with, renting a house is a flexible option for an individual whose job involves travelling from one country to another on a regular basis.

Furthermore

, the individual can shift houses if he is not happy with the condition due to various factors which will include job profile, view of the flat, view, neighbours, so on and so forth.

For instance

, if a person's job is being a travel guide, it will require him to keep travelling frequently, due to which if he has a rented apartment, it will ease out his process of moving out of a house without much issues.

On the other hand

, if a person has purchased a flat on an outright basis, it will act as an asset for him in his troubled times.

Moreover

, there will be no hassle of shifting from apartment to another once the rental period comes to an end, which gives emotional security. To add to it, an individual can

also

claim tax benefits of buying a house. More than 8 in 10 homeowners would prefer to buy a home. In conclusion, buying a home is a lifetime decision for a person and it has its pros and cons as compared to renting it.