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

The issue of whether buying or renting a

home

is more advantageous , has grown in importance over the past few decades.most of the

people

prefer to have their own property rather than renting one. It is an undeniable fact that having ownership has always been more crucial owing to many reasons .

Firstly

,buying can be an investment if house prices rise . In developing countries due to the instability of economic condition inflation is always rising ,so the best solution is investing cash in real states or other forms of properties.

Secondly

, if

people

buy their own

home

they can renovate or decorate their houses as they want .

For instance

, they can change the interior design by replacing the new wallpapers or installing larger wall cupboard without any restriction.

Moreover

,

people

's property becomes a reflection of their lifestyle, a place they can really call '

home

' . In other perspectives, renting is more economical in the short term and

people

can easily downsize when their budget is limited because as a renter you do not need to take loans or spend a big deal of money on buying an apartment. Especially in developed countries that have a stable economy.

Besides

, you would not have to worry about the housing market cashing or a natural disaster destroying your expensive

home

. Bottom line, as a human we need to have our own

home

to feel more secure and belonging. Personally , as someone living in a developing country, I try to save the value of my capital by buying a real state.