In some countries, people prefer to rent a house for accommodation, while in other countries people prefer to buy their own house. Does renting a house have more advantages or disadvantages than buying a house? Give reasons for your answer and include any relevant examples from your own knowledge or experience.

The argument over whether buying a dwelling is more profitable than hiring it has not been settled yet. Whereas some people consider possessing your own flat or house is an essential part of our lives, for others there still seems to be more benefits in renting than in buying.

Firstly

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, one major perk of renting is that it allows flexibility;

therefore

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you are not confined to a

neighborhood

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neighbourhood

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or a time frame, which gives you an opportunity to select a flat

which

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that

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is located in an environmentally friendly area or merely in a district

that is

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close to your workplace.

For instance

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, if an individual is anticipating a location move for a new job or a possible change in relationship status, renting certainly provides more options for adapting to all changes that life brings.

Secondly

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, another benefit is putative financial freedom. It means that other than a security deposit and renter’s insurance there are no extra charges with renting a flat where you can save some of your funds.

Nevertheless

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, hiring a property seems like throwing money away as for the most part of your life you waste your equity on renting somebody’s premises.

However

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, buying a property does not ensure freedom from an expected rise in a mortgage rate, and if you are not in a position to pay it might lead to a foreclosure. In conclusion, when it comes to a choice of whether to buy or rent a house a person should consider the outcome of each option along with his current situation.