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

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Over the
last
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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
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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
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, people can save up for their retirement as they will only spend a little bit of money on renting a property.
For instance
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, In The USA and France, financial relief and social security payments are negligible for old-age people,
thus
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, they are reliant on their lifelong savings post-retirement.
Secondly
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,
this
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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
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limits their opportunities to excel in their careers.
On the other hand
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, the major drawbacks to
this
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living arrangement are the lack of authority and no long-term stability.
While
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living as a tenant, you are supposed to follow the rules set forth by the landlord,
such
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as no pets, no smoking, etc. It can be frustrating if they are very restrictive.
Moreover
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,
due to
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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
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, it can be overwhelming for some individuals.
To conclude
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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. .
Submitted by parasherakshita123 on

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