In some countries, people prefer to rent a house for accommodation, while in other countries people prefer to buy their own house. Does renting a house have more advantages or disadvantages than buying a house?
Choosing a place to live in and whether to rent it or own it is a big decision to make. Many people prefer to own a house rather than living in a rented apartment while others choose to do exactly the opposite. I believe that owning a house has far more advantages than renting an apartment.
To commence with, people often rent a house because purchasing a property requires a great deal of money and the skyrocketing price in big cities makes it impossible for many to own a house. These people naturally rent an apartment. There are certain advantages to living in a rented apartment. First of all, the person does not have to pay a huge sum of money at a time and does not need to pay housing taxes and bear the costs of maintenance. Moreover, such people can change the living place based on the location of their workplace and children’s school. The renovation of the apartment is the landlord’s responsibility and the tenants do not need to worry about it.
On the contrary, owning a house gives a sense of personal achievement that tenants cannot enjoy. A house is a permanent asset and with time its price increases. The landlord can rent the house and this can be a steady source of earning for him. Furthermore, being the owner of a house means there is no one over the shoulder to watch what someone is doing and no sudden notice for evacuation. For instance, we had to vacate our apartment all of a sudden at least thrice until we purchased our own house a decade earlier. This is some sort of freedom that only house owners enjoy. Besides, the owner can construct and design the house the way he likes and enjoy open space, garden, and other facilities in the house.
To conclude, renting a flat has some benefits but the overall freedom and monetary compensations house owners enjoy are far significant, and this is why every tenant dreams to own a house someday.