The shelter is
of the basic necessities for every individual whether rented or owned
.In various nations, renting a
, condo or apartment has become the
preference over buying
has its own merits and demerits which will be explained in the upcoming paragraphs.
The benefits of renting a
, it is convenient for an individual to stay in a
which is near to the educational institute or the workplace.As most of the students and employees have to relocate to different parts of the country so renting a place nearby helps them to save travel time and
, a recent survey conducted by Times of India found that 70% of the people have changed their place of stay due to various personal reasons and preferred to rent over buying a residence.
, people tend to rent a
in different regions in order to wisely decide before settling at
has to evaluate many factors
as amenities in a town, infrastructure, nearby places for recreational activities and long term plans of the government for a particular region. They can compare the places where
has stayed for some time and
decide on investing to purchase a
, long term renting can lead to overhead costs as once paid we cannot get the
back. Nowadays, with the increase in household expenses , it has become very difficult to save fund and a major portion of the remuneration is spent on paying the
, buying a home can pose a better choice even if an individual has to pay a monthly mortgage as the
is being invested in a
, tenants cannot make amendments to a rented
due to restrictions from the owner. An individual has to seek permission from the
owner for making even minor changes in the rented
which is not the case for a self-owned
To conclude from the aforementioned discussion, I would like to infer that renting a
has its advantages like sensibly making decisions about the location before buying a
and proximity from the office or university helps save time.
, it has various disadvantages like rented
adds a huge cost in monthly expenses and restrictions to make changes in the rental place.
Leave a Reply