In some countries, most people prefer to rent their houses rather than buying their houses.What are the advantages and disadvantages of renting a home?

Indeed, many

people

can not afford for buying a

house

and the only option may be to rent. In some countries, most

people

decide that renting their

home

is the choice than buying one. In

this

essay, I will discuss why renting is a more flexible option and

also

how it can lead to financial loss to some extent and instability. The main benefit of renting a

house

or an apartment is its flexibility with the lifestyle. To be more specific, if a

person

lives in a temporary

home

for monthly rental, he can move the

home

with the changes in life events.

For example

, if a

person

got a new job, which is far away from the current location, he can easily move to a new

home

near his new company. If

this

happens to a

person

who bought a

house

, he may not be able to do that easily.

In addition

, if a

person

found that his

neighborhood

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neighbourhood

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is insecure due to developing criminals,

then

he can pack his belongings and move from that area quickly.

However

, there are some negative aspects namely the financial disadvantage and instability of living in a renting a place.

This

is because renting a

house

is more expensive than buying a

house

with a housing loan. Sometimes,

people

have to pay a higher amount as a rental than a monthly increment for a housing loan. Not only that but

also

, at the end of the loan period, they can own property, but not for rented one.

This

is a great loss financially. Another fact is some

people

may feel the instability of living in a rented apartment, because some landlords do not act fairly and do not follow contract rules, or they may try to change the conditions regularly.

For instance

, a study revealed that in the Colombo city area, the monthly rent is nearly 50% of to total income of a salary, of an average

person

, and the number of complaints against landlords is increasing annually. In conclusion, in

this

essay, I argued that renting provides greater lifestyle flexibility, and

also

renting can be a loss financially and how that renting a

house

unstable living.