In some countries, people prefer to rent a house than buy one. What are the advantages and disadvantages of renting a property?

In the contemporary world, people struggle to choose a comfortable residence for living along with convenience in terms of a good transportation system. Currently, the trend of renting a

house

rather than buying one is commonly seen among people in many countries. Many struggles to choose between paying rentals or bear the burden of instalments for various reasons.

This

essay will discuss the merits and demerits of being a tenant. In the current world, ‘Stability’ is a word found so rare that taking a firm decision for residing in a particular

place

seems almost impossible for many of us.

Firstly

, buying own property for a living sometimes becomes a burden if a person wants to migrate to a new town with new possibilities,

for instance

, a better job opportunity at a distant

place

might be evaded. Renting a

place

is an easy solution to

this

problem.

Secondly

, paying regular rentals allows the renter to make a prompt decision of choosing the right range of costing just complementing the present financial strength of that individual.

Moreover

, purchasing a

house

is linked to many financial factors,

such

as, debt burden, lack of liquidity, and uncertainty in the job sector which adds some extra pressure on the debt holder.

Therefore

, tenants get the additional benefits of movability and freedom of choice. Apart from the above positive impacts of renting a property, there are some disadvantages of it.

First

, building one’s dream dwelling is only possible if anyone owns a

house

. Many rules, regulations, policies, and restrictions are associated with a rented tract which always works as a hindrance in the way of decorating a

place

as very own.

For example

, a landlord might limit the renter to change the colour of the walls and sometimes

also

instruct not to change the settings of the appliances in a full-furnished apartment.

Second

, staying in a neighbourhood for several years creates a warm relationship with the neighbours of that zone which is almost impossible if one keeps changing the area frequently.

Furthermore

, buying accommodation for an individual brings a feeling of emotional involvement which is always missing in renting. In conclusion, own territory provides the luxury of incorporating free will and rented property reduces the financial risk of the person. There are several motivating factors and

similarly

numerous demotivating matters relating to making a choice of one among these two.

Consequently

, taking a decision of purchasing a

house

or pursue as a lodger, mostly depends on the condition of that particular person as well as his aim of life.