These days many people prefer to rent rather than buy their own house. Why is this so? Discuss the relative advantages and disadvantages of renting or buying, and give your own opinion. Give reasons for your answer and examples from your personal experience where appropriate.

Long was the time when everyone had to own their own land from a young age. While many people consider buying a house a necessity, others might argue that renting is the better option. I believe that the latter is superior since its financial advantages and ability to change locations outweigh the disadvantages of instability and uncertainty.

First

and foremost, renting is far less costly because the expenses of temporarily living on a property are way less than those paid in

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ortgage.

Moreover

, most professionals, especially those in entry-level jobs, do not make the income required for buying.

Subsequently

, they opt for leasing, which is what they can afford.

Secondly

, renting allows for more freedom to travel, unlike buying,

for example

, which makes you bound to a place over many years.

For instance

, a recent study published by Harvard Business Review showed that the majority of workers under the age of thirty chose to rent even when they were financially capable to keep their options open for the future.

For example

, I plan to rent for short-term in order to be able to live in multiple cities until I settle and put my name on a house contract.

On the other hand

, living in a place you do not own does not provide any sense of achievement.

As a result

, humans do not feel self-fulfiled unless they have an estate. A cross-sectional study done by Boston University depicted that the majority of test subjects considered owning a home their biggest success. Another drawback might be that renters can not always guarantee to find an apartment that suits their needs.

Consequently

, they would have to settle for something below their means. To give an example, many of my acquaintances had to settle for rooms in poor conditions because they could not find a better option. To conclude, the real estate market has witnessed a shift in preference towards renting, rather than buying.

This

is due to its many benefits including youth's passion for travelling and constant change of scenery, as well as its relatively inexpensive costs.

That is

why I believe that renting is preferable to buying.