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

In modern society, renting or owning has always been a hot topic. Some people believe that it is more beneficial to rent ,

while

others think owning a house brings more advantages. In my opinion, renting has its pros and cons which I will elaborate on

further

. First of all, the main benefit of renting is it gives us the flexibility to move around.

This

is especially useful for young people who are not ready to settle down.

Moreover

, they do not get tied down with long-term financial commitments.

This

offers peace of mind and they will have more options to try out different cities or countries before they decide on long-term places to live.

However

,one of the main disadvantages of renting is it is usually more costly in

long

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the long

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run. As we all know, inflation has made property price increases tremendously.

As a result

, it will be much more difficult to own in the future.

For example

, the yearly appreciation of houses in my city is around 5% each year.

Furthermore

, rental fees usually cover the monthly mortgages. If we rent, we will lose the opportunity to acquire

this

important asset , which can be passed down to the next generation. In summary, renting brings merits

such

as flexibility and the chance to try out more cities before settling down.

Nonetheless

, it brings some disadvantages especially financially in the long run as it is more expensive to rent. Since property prices

soars

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soar

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over the years ,it will be harder to own

this

essential asset in the future.