In the present world one of the biggest problem residents have to face is access to accommodation. In some countries, Many people decide renting a home is preferable than buying it. In this essay I will discuss why renting can allow a more flexible life style, but why it eventually be financially disadvantageous.
The main advantage of renting a house rather than buying one is the flexibility or in other words the freedom it offers. For instance, when you change a work place, you can easily move to another area where it is situated in a close proximity to your work place so that you will be able to minimize your transport expenses. Another reason that makes renting more preferable is whenever a crime rate increases in your neighborhood, you can easily pack your belongings and move to a more peaceful places.
Contrary to buying a home, renting it might be financially disadvantageous in the long run. This is due to the ever increasing cost of accommodation which is nowadays common in many countries. Undoubtedly, you might have to spend a significant percentage of your income for rent, and this will in turn affect your saving. Consequently, your future plan will be hugely impacted by these uncertainties.
In conclusion, I see there are long term financial drawbacks which come along with renting a home. But in my view, the flexible life style it offers is incomparable to its cons. Therefore, with no doubt I prefer renting a home rather than buying it.