In some countries, people prefer to rent their home rather than buy one. What are some advantages and disadvantages renting a house?

Many
people
choose to rent their apartment over purchasing a new flat in some countries. In
this
essay, I will explore the benefits of having a rented
home
as well as the non-beneficial factors.
Firstly
, I will discuss the advantages in the extent of not being responsible to pay the loans and the freedom that it brings when
people
would like to move somewhere else.
Secondly
, I will explore the disadvantages
such
as not having a place to call
home
. In my opinion, there are many advantages of renting a
home
for
people
such
as being able to change the place they live easily and to pay less amount of money per month than paying money to banks due to their loans which they might take to buy a
home
.
For example
, with the increase of the interest for the mortgages that banks provide, it is considered that renting a house is more affordable for many individuals.
Moreover
, since many
people
are required to sign a one year contract,
therefore
, they are always eligible to search for a new flat.
On the other hand
, some prefer to have their
home
apartments and enjoy the idea of being more independent.
Furthermore
, it is always a good investment to purchase a new place.
For instance
, in the global market, it is reported that the cost of renting and buying a new
home
is slightly increasing.
In addition
, it surely gives
people
the confidence and the comfort to have their own places. To sum up, there are many advantages and disadvantages of the topic that I discussed above. But most important, these benefits can always vary considering the individuals’ budgets.
Submitted by berktansuker1998 on

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Topic Vocabulary:
  • flexibility
  • mobility
  • upfront costs
  • maintenance
  • repairs
  • amenities
  • property taxes
  • long-term commitment
  • control
  • privacy
  • rent increase
  • restrictions
  • customization
  • investment
  • tenure
  • dependency
  • landlords
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