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?

In
early
Change the article
the early
show examples
1990s, buying
houses
was a common mindset of many
people
.
However
, renting homes is more popular than owning
houses
recently.
Although
renting properties provides tons of benefits in the short-term saving and
time
on obtaining one, it has
a
Correct the article-noun agreement
apply
show examples
long-term financial problems.
This
essay aims to illustrate the values and drawbacks of renting an
accomodation
Correct your spelling
accommodation
.
To begin
with, the rental
home
is beneficial in the short run.
First
, renting helps to save up
money
for several
years
. According to a study, the monthly payment for renting a
property
in Philadelphia is nearly $1400, which is relatively cheap comparing to the total mortgage.
In other words
, the owner can have more spare
money
when opting to rent a
home
.
Secondly
, the approval
time
before moving in is speedy. Normally, it takes 5 days on completing all
paperworks
Correct your spelling
paperwork
and checking background information.
Hence
,
people
do not have to wait long for starting to live in a rental
house
. On the other hands, the normal processing
time
of purchasing a
property
can take up to one month.
Therefore
, it is undeniable that renting provides
people
Verify preposition usage
withpeople
show examples
multiple advantages.
Although
there are many benefits to entering a lease
instead
of buying ones, leasing has its own disadvantages.
First
, the short-term
cost benefit
Add a hyphen
cost-benefit
show examples
starts to deteriorate after 10
years
of renting. To be more specific, there is an annual increase in every rental
property
.
This
will accumulate to a much bigger sum after 10
years
because of the law of compounding interest.
Therefore
, many
people
prefer buying
houses
after several
years
of renting.
In addition
,
rentors
Correct your spelling
renters
do not typically get back the
money
which is spent on fixing broken parts of the rental
house
. When a part of the
home
is broken,
home
renters have to allocate
budget
Add an article
a budget
show examples
for fixing it.
This
money
will not likely to be reimbursed.
Thus
, they lose all of it. In short, there are many downsides of renting a
house
. In conclusion, while renting a
property
is beneficial in many ways, it has several pitfalls. The short-term financial benefit and quick waiting
time
are two advantages.
On the other hand
, the drawbacks of renting are the long-term cost and the inability to get back the
money
on fixing the
house
. In the early 1990s, buying
houses
was a common mindset of many
people
.
However
, renting homes is more popular than owning
houses
recently.
Although
renting properties provides tons of benefits in the short-term saving and
time
on obtaining one, it has long-term financial problems.
This
essay aims to illustrate the values and drawbacks of renting
Submitted by quanduhoc on

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