In the contemporary world, more individuals prefer renting homes rather than purchasing them. While there are advantages of such trend, I believe disadvantages such as financial burden and limited sense of ownership far outweigh its drawbacks.
To begin with, there are certain benefits associated with renting. Firstly, renting reduces maintenance responsibilities. Individuals renting houses of other people do not have the responsibility of preserving home furnishings, since human beings do not value items that they have not made an effort to achieve. For example, they do not have to take care of furniture, electronic equipment or an overall condition of house, which is important for avoiding stress. Secondly, renting provides opportunity for people with limited income to live in homes with fulfilling amenities. Those who may not afford luxury residential areas may rent a house or apartment they wish and experience a life they have wanted.
However, renting entails clear disadvantages as well. People, renting houses may face economic strain, especially if they do not owe a lucrative job. Living in the rented house or apartment requires payments to be paid on a monthly or weekly base, which becomes unaffordable for people having extra fiscal burdens. Furthermore, buying the house may sometimes be cheaper than paying long-term renting payments. Additionally, living in the renting home may limit the sense of ownership of people. Individuals, living in houses of others, can feel unsafe and uncomfortable, even if they are paying for it.
In conclusion, while there are advantages of renting like reduced maintenance responsibilities and experiencing luxurious life, they pale in comparison with disadvantages such as fiscal strain and lack of ownership.