In some countries, some people are renting accommodation, while others are buying own homes. Does renting accommodation has more advantages or more disadvantages than buying a place?

In many parts of the world, some individuals believe in living in rental properties

whereas

others prefer to own a residential real estate.

However

, both types of accommodation

has

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have

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its

Correct pronoun usage

their

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pros and cons, yet tenants have

flexibility

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the flexibility

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and less stress to pay various cost related to the home.

Therefore

,

benefits

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the benefits

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of rental property

outweighs

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outweigh

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the disadvantages. On the one hand, it is easy to move as per the desire if one rents a place to live.

Consequently

, leasing is more flexible and pocket friendly because it can help save money despite paying for mortgages, insurance and property taxes which are usually very high in comparison to the monthly rent. In Canada, on

an

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apply

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average monthly lease is $2500 per month as compared to

the

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apply

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financing

that

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which

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totals

to

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apply

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$5500 plus almost an additional 13 per cent interest rate on the mortgage amount. Considerably, having a permanent resident could be challenging to the pocket.

On the other hand

, a place called home becomes a symbol of lifestyle as it does not limit the wishes to modify as per your requirements. Certainly, landlords do not allow to make any major alteration

in

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to

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their property,

nonetheless

, if one owns it,

freedom

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the freedom

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to renovate unlocks.

For example

, changing the wall painting, structural alterations or even adding more rooms etc. are restricted in case of tenancy.

Moreover

, the hassle to move frequently can be neglected after owning a residence as it usually becomes a

premanent

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permanent

place to live. In conclusion, even though there are various merits of being

a

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an

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owner of

the

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a

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house, it cannot

down scale

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downscale

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the advantages of rental accommodation. I believe

,

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apply

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it is a great deal to save money for the future by being a tenant

instead

of being stressed to pay instalments and other

cost

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costs

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associated with the principal home.