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

In

this

fast-paced world, as the population is increasing day by day more and more people are in need of accommodation.

However

, the trend in some regions is to

rent

a dwelling rather than possess one as often the public does not want to deal with the associated mental tension of maintaining the property and paying a huge amount of money

initially

. There are both pros and cons of renting which will be discussed in the forthcoming paragraphs.

Firstly

, the primary reason why individuals deject buying a home is due to the gigantic sum of money that has to be paid. Since the prices of properties are skyrocketing in different areas the population is more inclined towards renting as they have to pay only the monthly rate which is much lower than the enormous amount for owning a place of residence .

For example

, a person buying a house in the city will have to pay approximately 35 lakhs for the total capital and construction costs.

However

Add a comma

,However

show examples

if he or she enquires about the monthly

rent

then

it will only be about 90000 rupees annually.

Secondly

, tenants do not have to worry about renovating or maintaining the dwelling as the owners will be solely responsible for

this

.

Also

, the folks staying on

rent

can move to different places according to their jobs and children's study requirements which is not possible if they possess a home.

In Contrast

, tenants cannot decorate and design the place according to their tastes and desires if the house is rented.

This

restricts their freedom and often they have to ask permission from the owners.

Also

, the owners often get into arguments with tenants in terms of fees or other issues.

This

spoils the peace of living and creates unwanted tension which can be eliminated if one stays in his own residence .

Lastly

, folk living in rented houses have to move after the agreement expires and

hence

this

creates expenses for packing and transportation.

This

also

deprives them of having a stable environment to live and they are in a constant hurry of moving and settling. In conclusion, individuals prefer living on

rent

in order to keep extreme expenses and the tension of maintaining the residence away from them.

However

, renting

also

creates a sense of instability and restricts the freedom of individuals which they get in plenty if they possess a house.