The proponents of renting a house cite a host of benefits. Before you decide to buy, carefully consider the merits & demerits of home ownership. Let us delve deeper into the reasons that support my notion in the ensuing paragraphs.
To begin with, buying a house requires an enormous sum of investment. In big cities, purchasing a property needs a great deal of money and the skyrocketing prices makes it impossible for many even to dream to own. To illustrate, an article published in “Bloomberg Businessweek” magazine in July 2019 stated that people living in metropolitan cities prefer to rent their accommodation than buying it.
Furthermore, tenants enjoy benefits of not paying property tax and maintenance charges which add up to their savings. Additionally, people living in a rented domicile have the option to move to a newer location when required. For instance, a survey organised by “United States Census Bureau” in May 2018 revealed that private employees, rent a new accommodation every third year due to their transfer of jobs.
On the contrary, you cannot claim an ownership while living in a rented place. Demerits of not making an asset of owning a residence raise insecurities for the future. The house is a valuable resource for the next generation to reside in securely. To elucidate, properties like shop, commercial & agricultural land are considered as long-term investment that help to increase one’s wealth eventually. To exemplify, “Harvard University, USA” conducted a research in August 2014 and found that 58 percent of the population do not own a property and live in a rented home.
To encapsulate, let us reiterate that although there are some cons of renting a domicile, the pros by far outweigh them. It depends upon one’s own needs & financial circumstances to choose between the two.
The proponents of renting a
house
cite a host of benefits.
Before
you decide to
buy
,
carefully
consider the merits & demerits of home ownership.
Let
us delve deeper into the reasons that support my notion in the ensuing paragraphs.
To
begin
with, buying a
house
requires an enormous sum of investment. In
big
cities, purchasing a
property
needs a great deal of money and the skyrocketing prices
makes
it impossible for
many
even to dream to
own
. To illustrate, an article published in “Bloomberg
Businessweek
” magazine in July 2019 stated that
people
living in metropolitan cities prefer to rent their accommodation than buying it.
Furthermore
, tenants enjoy benefits of not paying
property
tax and maintenance charges which
add
up to their savings.
Additionally
,
people
living in a rented domicile have the option to
move
to a newer location when required.
For instance
, a survey
organised
by “United States Census Bureau” in May 2018 revealed that private employees, rent a new accommodation every third year due to their transfer of jobs.
On the contrary
, you cannot claim an ownership while living in a rented place. Demerits of not making an asset of owning a residence raise insecurities for the future. The
house
is a valuable resource for the
next
generation to reside in
securely
. To elucidate,
properties
like shop, commercial & agricultural land
are considered
as long-term investment that
help
to increase one’s wealth
eventually
. To exemplify, “Harvard University, USA” conducted
a research
in August 2014 and found that 58 percent of the population do not
own
a
property
and
live
in a rented home.
To
encapsulate,
let
us reiterate that although there are
some
cons of renting a domicile, the pros by far outweigh them. It depends upon one’s
own
needs & financial circumstances to choose between the two.