Nowadays, many people prefer to rent a house rather than buying their house. Discuss the advantages and disadvantages

Over the

last

decade, the trend of renting a house has tremendously increased. Whether it is more advantageous than buying a property is a matter of debate. In

this

essay, I will outline the positive outcomes and possible drawbacks and elucidate my viewpoint. There are two key factors why rental houses are beneficial.

Firstly

, people can save up for their retirement as they will only spend a little bit of money on renting a property.

For instance

, In The USA and France, financial relief and social security payments are negligible for old-age people,

thus

, they are reliant on their lifelong savings post-retirement.

Secondly

,

this

can save them from the crippling debt of paying a mortgage. A good example is India, where many young citizens are under a legal obligation to pay their debts with a tremendous interest rate.

This

limits their opportunities to excel in their careers.

On the other hand

, the major drawbacks to

this

living arrangement are the lack of authority and no long-term stability.

While

living as a tenant, you are supposed to follow the rules set forth by the landlord,

such

as no pets, no smoking, etc. It can be frustrating if they are very restrictive.

Moreover

,

due to

constant changes in address, there is no stability especially if you have children. A recent survey showed that children who constantly change houses are at a higher risk of developing social anxiety.

Thus

, it can be overwhelming for some individuals.

To conclude

the aforementioned discussion, I am a proponent of renting a home as it is a strategic way to save money for retirement and fuel your career ambitions. .