While some people prefer to rent a house for accommodation, others prefer to buy their own house What are the advantages and the disadvantages of renting a house?

Over the last few years, some people have argued that renting a home is more convenient than owning it. In this essay, I will discuss both sides of the argument. To begin with, some prefer to own a home for accommodation for two main reasons. Firstly, when they buy a house, this gives a sense of security and stability for them. Another reason is that if someone purchases a house, this will save money for him in the long run; therefore, he can save the monthly money that will be consumed for renting. An eminent example of this is, in Saudi Arabia, the government helps the public with purchasing houses by giving them a loan. Accordingly, owning a place could provide stability and save money for any family. One of the most significant benefits of renting a house is no need for a colossal amount of money to have accommodation. To explain, if anybody decides to move to any place, he can simply rent a studio or a two-bed room flat for a small amount of money. For example, in Egypt, many youths could get married in new houses with a high level of finishing for almost 3000 pounds per month. Moreover, some individuals prefer investing in their money rather than frozen it in buying a house to raise their standard of living. Hence, renting houses may be more efficient especially for young generations. In conclusion, although renting can be useful for people who need a home on a short-time period, this convenience comes with a monthly cost that could be saved in the long term in case buying it. Furthermore, having a house gives a sense of stability and independence.