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

Many populations in our society reside by home renting due to their idiosyncratic judgements or unconditional circumstances.

Nonetheless

, benefits and drawbacks exist whether some prefer to live by monthly payments or own a house.

This

essay will compare the negative and positive aspects of entering the real estate market.

To begin

with, one is not burdened with housing maintenance and mortgage debts by living in a rental property. For some landlords, these monthly costs exceed the earning income, leading to insolvency.

Moreover

, housing markets are volatile due to the heavily leveraged loans.

For example

, during the financial crisis in 2008, many homeowners lost their properties or were in debt due to the market crash. Overall, dwelling in a rental home can avoid these crucial situations and dangers.

On the other hand

, housing prices owned by the landlord will likely increase on the long-term horizon; meanwhile, living in a rented shelter will not gain any advantages.

For instance

, after the financial crisis, the housing market persistently surged until today, indicating the success of those who owned the properties during these periods.

Furthermore

, homeowners are authorized to evict if necessary, and people who live in rentals are at risk.

Therefore

,

as a result

, some major disadvantages are included when one decides to stay in the rental properties, even if he can own one. In conclusion, both advantages and disadvantages follow in a decision to own a home. It is up to an individual’s responsibility and judgement because each position carries particular risks and liabilities.