Renting versus owning a home

Renting versus
owning a home

Renting versus owning a home 1
In this report, the discussion is made on the rent and buying home. It is difficult to
take the decision in terms of renting and buying the home. The consumer always takes the
most beneficial decision
Answer 1
Renting Home
The residence property given by the person on rent to the other person is called
renting home.
Advantage Disadvantage
 Taking the home on rent is cheaper
than buying the home at a time.
 It is easy to move from one place to
other place as there is no
responsibility to maintain it. Most of
leases period are finished before 12
months due to which the
responsibility is also reduces and can
easily shift in other place. It is more
beneficial for the people who are
working in different cities.
 Landlord is responsible to maintain
the house. The landlord of the house
beards the cost which is incurred from
repairing and maintaining the
 Housing cost is not fixed as it is
increases or decreases as per the
landlord. Most of the time, rent
amount is increases from year to year.
 The person will not able to claim for
the deduction in terms of mortgages
interest and property taxes.