Some People Prefer To Rent Accommodation While Others Buy Their Own Homes IELTS Writing Task 2

If he has no one to help him out, a person moving to a big city for work or school must find housing as quickly as feasible. Renting a home or apartment is a simple solution because there are numerous options available to meet your needs. Someone who has recently begun to make an income would be better off renting. Renting also makes moving to a new location simple.

Another benefit is that downsizing and upsizing are both simple processes. You can rent a larger home if your income rises. Similar to this, you can locate a smaller property that matches your budget if you lose your employment. On the other side, renting a property gives us a lot of opportunities. For instance, homeowners who invested a lot of money in a home are unable to relocate to a new and better neighbourhood when their income rises. Renters, however, can simply do so. According to research, PTSD sufferers felt less pain when they relocated. Renting is therefore recommended for those with PTSD. It is also appropriate for those leading active lifestyles. Similar to the previous choice, this one has drawbacks as well, one of which is a sense of insecurity during trying financial times.

On the other hand, purchasing is more advantageous if you intend to stay in a specific location for a number of reasons. This is the best choice if you work a permanent, non-transferable job or operate your own business. Some guests buy a home as an investment in addition to staying briefly. The reasoning behind the choice is that they would prefer to make regular payments toward a loan rather than paying rent. Because, in the end, they will be able to buy a home.

In conclusion, there are many arbitrary factors that influence whether a person chooses to rent or buy a home. If you don't have any other financial obligations, I believe buying a property is preferable to renting. Future returns on the investment will be excellent.

For instance, my manager recently bought a villa of his own and is now living it up by swimming in his personal pool. Further, hosting weekly parties with his close family members.

Contrarily, renting provides more benefits than purchasing a new one. The person is kept in a safer position by renting instead of purchasing a home. If there isn't enough money to put down or if a loan is chosen. Buying a home can be quite difficult because monthly payments must be made over a long period of time.

According to a survey report from Bloomberg, more than 30% of people struggle to make their monthly loan payments. Further, 20% of them have previously declared bankruptcy in an effort to get relief. Instead of purchasing an item for his living, one of my friends diversified his savings by investing in commodities and mutual funds. Thus, as a result, he is now consistently experiencing annual returns of 25%.

To conclude with, few individuals are interested in purchasing a home. It is always preferable to choose a rental property because it lessens the load placed on the individual. Even if those who want to rent will not have any power, they will still save money.

To start with, people frequently rent a home because purchasing one necessitates a sizable sum of money. Furthermore, the rising cost of real estate in the city has made it challenging for the average person to buy a property. A further advantage of renting a home is that tenants can relocate based on their employment and the educational needs of their children.

Since my job forces me to relocate to a different area for each project, for instance, I have moved three times in the past five years. The renter does not need to worry about the renovation of the home because it is the owner's responsibility.

The sense of accomplishment that comes with owning a home is something that tenants cannot experience. You have the freedom to change anything about your home whenever you want to. In contrast, if you rent a place, you are required to abide by the guidelines established in the contract with the owner. For instance, before I ultimately purchased my own home and lived in peace, I was required to leave the property three times per the owner's orders.

Additionally, property values are rising daily, making real estate an excellent investment. The same is true for renting out your home and making money off of it. A month goes by quickly, and a middle-class person may have trouble affording a substantial rent payment.

In conclusion, there are certain advantages to renting, but overall freedom and financial rewards enjoyed by home owners are significantly greater. And every tenant aspires to purchase a home someday.