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

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In many countries,
people
still prefer to own their homes.
However
, many
people
prefer to rent rather than possess in more developed countries because of affordability, property taxes, and maintenance expenses. Many
people
are migrating for jobs.
Accordingly
, it does not make much sense for them to stay anchored to a particular location by securing property there. To start with, purchasing a property requires a great deal of money and the skyrocketing price in big cities makes it impossible for many to own a home for many
people
.
As a result
, these
people
naturally rent an apartment or condos, or studios. There are certain advantages to living in a rented apartment. First of all, the person does not have to pay a considerable sum of money at a time and does not need to deliver housing taxes and bear maintenance costs.
Moreover
,
such
people
can change their living
place
based on the location of their workplace and children’s school. The renovation of the
place
is the landlord’s responsibility, and the tenants do not require to worry about it. Alternatively, the real beneficiary is the house owner. There is no solidity as the person has to move from one
place
to another after the expiration of the lease contract.
Consequently
, it increases the expenditure of packing and moving to other sites.
Moreover
, the person who leases the area has to bear restrictions,
such
as not modifying the
place
according to
their requirements and prohibition on keeping a pet. There are both advantages and drawbacks of rental accommodation in equivalent proportion to recapitulate. Though it lessens the expense of maintenance, in some cases, it leads to a reduced sense of home security
Submitted by riyel.jr on

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Topic Vocabulary:
  • flexibility
  • mobility
  • upfront costs
  • maintenance
  • repairs
  • amenities
  • property taxes
  • long-term commitment
  • control
  • privacy
  • rent increase
  • restrictions
  • customization
  • investment
  • tenure
  • dependency
  • landlords
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