Some people prefer to live in rented homes. Discuss the advantages and disadvantages of this trend.

Accommodation is one of the basic human amenity but the choice of living in a rented one is preferred by a few. The benefits and drawbacks of

this

shift are needed to be extrapolated in detail. Indeed, the rapid increase in population has created social disparity among the masses due to which, the worth of the property has exceeded all the limits,

thus

low wage earners find it better to rent a property. The government is encouraging low cost housing schemes for the people, whereas the leasing companies are hesitant to offer

such

schemes to most of the people. The fact that these sorts of housing complex are being built in the suburbs

also

discourage people because the location is quite important for most people these days.

In contrast

, people living in rented properties always find themselves short of money by the end of each month because of the fact that a huge amount of their salary goes to their landlords. The rise in the house rent is directly proportional to the increase in a common man's salary,

therefore

one must either learn how to manage his finances well or switch home after every few years,

otherwise

the house rent would be out of his reach.

In addition

, living in someone else's home is quite stressful because the tenant is not supposed to make any sort of changes in the property without informing the landlord.

For example

, if the wall paint is fading, the tenant must inform the landlord about the issue before performing the paint job with his team.

Hence

, no matter how good the landlord is, the tenant has to follow the rules mentioned in the contract. In conclusion, owning an asset like your own home has a very few disadvantages, but it is

also

true that every asset depreciates with time.