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?

People in most countries, after a certain period of their life, have to think about where they are going to stay. For most people,

this

decision is living in their own house independently,

however

, the choice does not end there. After they decide to reside by themselves they have to think about whether to buy or rent a place. A major part of the world's population believes that renting accommodation is more advantageous

while

others think

otherwise

. In

this

essay, I am going to speak about the pros and cons of these opinions

as well as

give reasons why. To start,

while

purchasing a place can be a wise investment, most professionals recommend leasing a house for a myriad of reasons.

Firstly

, in a country like the USA doing

this

can save you a lot of money every month. The second advantage is that an individual can experiment with which type of house they desire since they do not permanently own it.

Secondly

, in the

last

couple of years, some experienced communities have labelled

this

act as “ money going down the drain “,

however

,

according to

ATTOM, a real estate data company, it has been revealed that renting is almost two times cheaper than the other option.

Furthermore

, the only disadvantage to the action is that there is a new monthly activity that you have to do since paying for the lease takes time.

To conclude

,

while

some people believe that renting is not a viable decision to make, it was statistically proven that it was the opposite and better for most if looked at from a financial perspective.