In most of the countries, people prefer to rent their homes rather than buying them. Do the advantages overweigh disadvantages of renting a home?

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Owning a house in
this
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fast-growing economy is very difficult nowadays. Some people believe that renting a place to accommodate is more economical than buying a property. I am completely in the favour of advantages of the same, in
this
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essay I will elaborate on both sides of views.
To begin
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with, renting a sheltered place has its own merits. Switching a rented apartment will not be an issue, there are no taxes or extra penalties for changing houses as per tenant laws.
Furthermore
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, repair cost and maintenance costs will be covered by the landlords themselves.
Additionally
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, a tenant does not require a large amount of leverage to buy a property even monthly rent will be fixed. To illustrate, the average cost of purchasing an own corner is augmenting at a high pace of 10% on year to year basis.
On the other hand
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, landlords have a sense of stability and pleasure in owning a property. It even helps owners in building their equity. To
further
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strengthen their assets they can rent and generate a fixed income on the same equity.
For example
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,
according to
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a report submitted by " The Guardians" 5 % of the richest individuals in Canada are landowners who lease their estate. In simple terms, renting land is seen as the most profitable business in today's time.
To conclude
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,
although
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in today's time, the masses prefer a rented place over owning a house to their name, I believe purchasing equity has more advantages, as the return on investment is quite high and valuation will always go on the upper side in today's time.
Submitted by prajeshtrivedi94 on

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    • Sentence 2 - Detailed background statement
    • Sentence 3 - Thesis
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    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
    • Sentence 4 - Conclusion
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    • Sentence 1 - Topic sentence
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Topic Vocabulary:
  • preference
  • advantages
  • disadvantages
  • renting
  • buying
  • flexibility
  • upfront costs
  • maintenance
  • repairs
  • amenities
  • property taxes
  • limited control
  • equity
  • investment
  • rent increases
  • customization
  • stability
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