These days many people prefer to rent rather than buy their own house. Why is this this so? Discuss the relative advantages and disadvantages of renting or buying, and give your own opinion. Give reasons for your answer and examples from your personal experience where appropriate.

Recently it has been noticed that more people are renting their accommodation rather than becoming home-owner. Some say
this
is due to the rise of property prices these days, other says renting is giving people more flexibility to change homes when needed.
Although
both of them are solid points, in the long-run buying a house is the best choice. Currently, the property market hits an all-time high, with prices that almost tripled from 10 years ago.
This
issue can be traced to the high inflation rates all around the world that kept the public from buying homes and pushed them to wait for the
next
market crash in order to buy.
Also
, some fox prefers renting because it gives them more freedom in relocation. Where some tenets did not yet settle in their current jobs and looking for other opportunities. Renting will be preferable to them especially if they are renting their homes on a monthly bases.
This
also
applies to other types of groups like students and short-term contract workers.
Finally
, thinking in the long-term buying a house is the most reasonable choice because the cost of buying will be cheaper than renting in the end. And with the help of new banking and financial , instruments it became easier to own a house.
Also
eventually it will be an asset that can be liquidised if needed. In conclusion,
Although
renting options may be preferable temporarily to some groups of people, owning a property is a better option in the long run.
Submitted by alageel.faisal on

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