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

Many people prefer to stay in metropolitan cities

such

as New Delhi or New York because these cities offer more jobs as compared to rural areas. Due to

this

, real-estate prices have gone sky high so most people prefer to rent their homes rather than buying them.

This

essay will discuss both advantages and disadvantages aspects of renting a place. The predominant advantages of people not buying houses are that less capital is required and the option to move easily is always available.

In other words

, you do not require any large sum of money when you rent a place. One just has to pay a small amount as deposit, which will be returned when you vacate the house.

Additionally

, one can easily move from one city to another without any condition .

Also

, any maintenance required in the apartment is a concern of landlord's not tenants. Overall, being a tenant is a smart decision.

Nevertheless

, there are some potential disadvantages of not owning a property.

First

of all, one has to follow all the rules and regulations set by the landlord.

For example

, if an owner sets a time of coming back in the building by 10 PM

then

you cannot afford to be late and have to be there before the allotted time.

Furthermore

, rents in the cities are almost the same as an EMI of a home. So you end up paying almost the same amount of money even if you rent a condo but never own it.

Such

drawbacks surely make you think whether renting a house is a smart idea or not.

This

essay has discussed both positives and negatives of renting an apartment.

Although

, renting a house is much easier and less expensive than owning it, but following someone's else rules are quite frustrating as well.