Homeownership, renting, or owning is a matter of concern for people in some countries. This reflects various opinions of the public on this discrete topic; it could be due to regional relevance or cultural impact. The following paragraph will discuss whether renting or owning a home is better than the other, with reasonable arguments.
Owning a home in a metropolis is a dream for many, because of the well-connected inter-city travel and accessibility. Secondly, it is also considered safe to reside in the capital of a state or country. Thirdly, it is a matter of pride as well; a person owning a home in a country like India or in some Middle Eastern countries is considered good, since society considers a person good only if he or she has their own house. What is more, they consider that the person must be earning well. Sometimes, people living at the same location become part of their legacy. Hence, they want their next generation to stay in that vicinity only.
Despite this discussion, a group of people are still not ready to buy. This is simply because they find renting a better and more convenient option. Because the process of renting, compared to buying, is far more relentless and smoother. Besides, this doesn’t only make the responsibility split between the tenant and landlord due to the haggle-less, every-month bill payment for electricity and water. This is not a widely practiced thing in India, but in countries like the USA, UK, and Canada, it is. This is particularly because of two reasons. First, the cost of living is high, which can implicate one in either sustenance or ownership of land. Second, most people migrate there because of temporary or transferable jobs; in such a scenario, renting becomes a worthy option.
To conclude, consider this example for better understanding. A student who lives in a small village in India and goes to Australia for higher studies will rent a house. Upon completion of the degree, if he or she decides to return, then he or she would expect to do well and subsequently would like to buy a home.