Renting instead of owning home is becoming an increasing common phenomenon in some nations. While there are numerous benefits such as improved flexibility and economic advantages, drawbacks in terms of lack of stability and a sense of home, cannot be overlooked.
One of the most compelling positives associated with renting home is enhanced adaptability. It is clear, tenants can move from one city to another due to sudden changes in job or life plans without any worries about how to sell the house quickly at a high price. This, in turn, captivates a culture of independence. Another positive advantageous aspect of tenanting a house is financial benefits. In fact, tenants do not pay a large amount of money immediately or they do not have to cover maintenance costs, which are the biggest expense. Instead, they spend their extra money on other purposes, like travelling, education and others.
Despite the above-mentioned positives, hiring accommodations comes with several downsides. One of the most salient disadvantages is a feeling of homelessness. Usually, landlords do not allow tenants to make any changes around the house, like decorating, painting and other improvements in a kitchen or children’s room. Although tenants have a financial burden of constant monthly payment, they cannot gain any ownership at the end. The second evident negative side is related to decreased stability. Frequently, landlords may increase the amount of rent or sell the house immediately according to their needs, which force tenants leave their rented house unexpectedly and have to find a new place to live. Collectively, these result in an increased level of stress and depression.
In conclusion, albeit having some advantages including fostering flexibility and fiscal benefits, tenanting a house simultaneously gives rise to certain limitations, particularly lack of stability as well as a sense of homelessness.