2021-11-16 : Task 2In some countries, some people are renting accommodation, while others are buying their own homes. Does renting accommodation have more advantages or more disadvantages than buying a place?
Home is where the heart is!
In certain nations, few people are leasing temporary homes, while others are possessing permanent homes. The forthcoming paragraphs, illustrates if the rented living space is more beneficial or not in comparison to the owned space.
With the increase in urban population and large number of people migrating to cities for better lifestyle and most importantly for work, housing has become very expensive. With the inorganic boom in the real estate, owning a living space remains a dream for many. The financial stress on an individual is lesser while renting the house in comparison to buying one, large sum of money as a down-payment is not required; thereby it becomes easier to handle the burden. Also, in the modern world, people prefer to move jobs and explore new places than living in the same house and place, temporary rented place is best suited in such cases.
On the other hand, owning a space gives us a sense of belonging and is an investment. The emotional connect with the own house is immeasurable; the pride of ancestral house when passed on over generations is invaluable, all of this would not be possible with the leased space.
Overall, the major upside to renting a living space is affordability with minimum financial burden and flexibility to relocate. On the downside, it is an expense with zero returns, the emotional connect to the place is negligible. Considering both the sides I think, with the modern lifestyle and demanding jobs people are always on the move also, allocating large part of the earning for accommodation alone makes it impossible to explore other interests of an individual like travel. Hence, the leased property has an edge over buying a property


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