Recently, many people have preferred renting a house over purchasing one in a significant number of countries worldwide. While there are some advantages to such an approach, there are also some disadvantages to consider. In this essay, I will explain some of the merits and the drawbacks related to this trend.
To begin with, one paramount renting advantage is the absence of a mortgage. This is because this monthly paid money can create financial burdens upon families despite their incomes. For example, a paper published by economists at Cambridge University in 2019 declared that people who buy their houses are expected to spend about 50% of their salaries as mortgages. Furthermore, this lifestyle can increase people’s flexibility to relocate. This is since these people would easily move from one place to another without losing any money trying to sell their homes. As a result, these people usually get better job opportunities, which can help them to develop their careers.
Turning to the disadvantages of this phenomenon, one critical demerit of renting is weakened social relations. The reason for this is the continuous relocation of families without settling in one place for a long time. Consequently, this would lead to being introverted because of the lack of communication with these people’s neighbors. Besides, this way of life can also negatively affect renters’ offspring's academic future. This is because moving from one school to another repeatedly can enforce them to achieve poorly in their studies as these children need time to adapt to their schools. For instance, research conducted by pedagogical experts at the Egyptian ministry of education revealed that renters’ children are more likely to academically suffer in their schools by 50%.
In conclusion, although lessened financial burden and flexibility are some of the main merits for renting a house instead of buying one, weakened social relations and the renters’ children's poor academic achievements are crucial demerits that should be taken into consideration.
Recently,
many
people
have preferred
renting
a
house
over purchasing one in a significant number of countries worldwide. While there are
some
advantages to such an approach, there are
also
some
disadvantages to consider. In this essay, I will
explain
some of the
merits and the drawbacks related to this trend.
To
begin
with, one paramount
renting
advantage is the absence of a mortgage. This is
because
this monthly paid money can create financial burdens upon families despite their incomes.
For example
, a paper published by economists at Cambridge University in 2019 declared that
people
who
buy
their
houses
are
expected
to spend about 50% of their salaries as mortgages.
Furthermore
, this lifestyle can increase
people’s
flexibility to relocate. This is since these
people
would
easily
move
from one place to another without losing any money trying to sell their homes.
As a result
, these
people
usually
get
better job opportunities, which can
help
them to develop their careers.
Turning to the disadvantages of this phenomenon, one critical demerit of
renting
is weakened
social relations.
The reason for this is
the continuous relocation of families without settling in one place for a long time.
Consequently
, this would lead to
being introverted
because
of the lack of communication with these
people’s
neighbors.
Besides
, this way of life can
also
negatively
affect renters’ offspring's academic future. This is
because
moving from one school to another
repeatedly
can enforce them to achieve
poorly
in their studies as these children need time to adapt to their schools.
For instance
, research conducted by pedagogical experts at the Egyptian ministry of education revealed that renters’ children are more likely to
academically
suffer in their schools by 50%.
In conclusion
, although lessened financial burden and flexibility are
some of the
main merits for
renting
a
house
instead
of buying one, weakened social relations and the renters’ children's poor academic achievements are crucial demerits that should
be taken
into consideration.