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

One of the most common dreams of families around the world is to buy their own
home
. In many cultures, if not in every, it is crucial for any family to guarantee a space to raise their children, receive friends and provide safeness and comfort. By the other hand
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,
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some specialists in finance advise that the alternative of renting a house or apartment is a more flexible way to keep family's patrimony. We can consider buying a
home
advantageous because it is a family achievement, a solid patrimony that can remain for generations. When someone owns a house or an apartment it is possible to make changes in its structure, modify and expand its area in order to adapt it to an eventual family increase. The owner of a
home
is free to make what he or she want with it, since obeying official rules of local administration related to urbanization.
Additionally
, improving the constructed area makes
home
get valued, so it can be considered a good investment if the owner keeps it functional and updated according to actual trends. On the other side if we consider the possibility of renting a
home
we can see some advantages that many people do not think about. It is common-sense some kind of risk not to invest in a
home
when someone thinks about raising a family. If we take the amount of money needed to buy a house as some kind of transaction, the rentability generated can be used to afford the rent. The money remains in the bank and the idea of family patrimony keeps untouched. The main advantage is that by renting a
home
we are not bounded so strongly to that place. If a family wants to move on to another place, it is easier to leave without concerns about value and price market to get a good deal. As we can see it represents some flexibility. To conclude it is possible to see both options, buy or rent, as advantageous. The
first
case gives liberty to change spaces, feel safe with someone's proper space, it is reliable to those who want to stay in the same place for
l
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a
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ong time or even for the rest of life. Renting brings the advantage of keeping an investment with the money which would be used to buy a
home
. With
this
finance a family can rent a
home
and has
f
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the
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lexibility to go to other places, it is ideal for those who do not like to stay for long periods of time in the same space.
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Essentional vocabulary list for IELTS Writing 7+

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Topic Vocabulary:
  • financial commitment
  • down payment
  • initial costs
  • allocate resources
  • maintenance costs
  • mobility
  • relocate
  • market fluctuations
  • property value
  • building equity
  • appreciate in value
  • asset
  • personalization
  • restrictions
  • rental increases
  • lease renewal
  • financial instability
  • housing budgets
  • long-term security
  • landlord
  • lease agreement
  • equity
  • substantial
  • property ownership
  • property market
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