The increasing number of people who are renting their homes instead of buying new ones has become more and more common. In my opinion, the benefits are still outweighed by the drawbacks. On the one hand, spending money on a rental house tends to create several opportunities for a person to take advantage of. The first benefit is considered to be the opportunity to spend money on other useful activities instead of buying private houses. Compared to the past, when all civilians had their own houses and traveling was not experienced, due to the development of technology, people are now investing money in opening business markets or hotels in foreign countries. With the help of renting houses, people are able to take part in them regardless of geographical distance. For instance, if, in the USA or the UK, businessmen and tourists have their business meetings or trips in unfamiliar countries, they can rent their houses. The second benefit is thought to be the amenities for people. It is because students are ready to meet university requirements in external countries but can not afford to live in their private houses. Owing to the rental of houses, they can live there. They can spend money on learning languages or traveling around the world rather than purchasing houses, and they can do their best to focus on only studying.
From an opposite angle, despite the mentioned positives, I am still convinced that renting a home has some inevitable negatives. One of its major disadvantages is that people cannot find freedom in other houses, but if they own their own, living there can drive away all the pressure and frustration of people and is a form of escapism from the suffocation of their lives since they can find serenity in their private houses. Another important demerit is that old people who have retired from their jobs have inadequate pensions to afford to rent. If they have houses that were left by their ancestors, they will not struggle with challenges. For example, in cosmopolitan cities like New York or London, the average pension for old people is around 3,000 dollars. That is why they cannot pay rent for their apartment.
In conclusion, renting a house can offer several positives, but there may be some drawbacks too. From my personal point of view, the disadvantages will outweigh the advantages.