In most of the countries, people prefer to live in a rented apartment rather than buying a home. What are the advantages and disadvantages of living in rented accommodation?

People across the globe, immigrate to different countries or cities in search of jobs or to pursue their higher education and

this

trend has increased the demand for housing. The majority of the crowd prefer to rent an

apartment

than to invest in their own house for various reasons.

This

essay will discuss the pros and cons of renting an

apartment

than buying a new house. People who are migrating to a new place for work or education may find it convenient to stay in an

apartment

as the rents are comparatively low.

For instance

, a group of students can rent an

apartment

and share the debts among them which would help them save money.

Also

, the working professionals will have an option to choose the

apartment

which is close to their workplace to reduce the travel time.

Hence

, they could better utilise

this

time for other activities like physical fitness or simply spending time with their families to achieve a better work-life balance. Though there are various advantages of living in a rented

apartment

there are some disadvantages as well.

Firstly

, a huge amount of the earnings need to be spent on the rentals and there are no returns in

this

case.

Instead

,

one

could buy a new house and pay the monthly instalments which will be an asset for the future.

Secondly

, apartments may have restrictions and the tenants need to follow the decisions made by their community though they do not like it.

For example

, most of the apartments are not pet friendly and

one

may not be allowed to have any pets. To conclude, though apartments are convenient and affordable, the amount spent on rentals are not an investment and there could be restrictions as well. So

one

has been wise in choosing the right type of accommodation as shelter is

one

of the basic needs for a peaceful living.