To live in a rented house has its own benefits though people argue that paying a handsome amount of money as rent is absolutely nonsensical when you can get a house in the same amount of instalments. To live in a rented house offers benefits that home owners (who pay instalments) don’t always get.
1. Those who live on rent can always relocate
2. They can always look for cheaper rents. They have options.
3. They don’t have a property so they do not have to worry
4. They don’t have to pay for building maintenance.
5. They don’t have
6. They stay unaffected of the government threats to property (if there are some).
7. The single point of contact in case of any problem is the landlord. If he doesn’t take action, the rented person may simply look for another option.
8. These days furnished houses are also available on rent. Depending on one’s capability there
9. They are not bound by any conditions. If they don’t have money they may look for other feasible options.
10. If for any reason they are not able to pay the rent they may ask the landlord for some rebate which the bank seldom allows. They don’t have a threat to lose the property.
Gone are the days when people bought homes on cash. Everyone wants to take the benefit of loans so that their saving accounts are least disturbed. Everyone around you might suggest you to buy a house but think twice before you make this decision. People often don’t understand the concept (nor do I) of home loans well and invest all their savings and guarantee their monthly income in the form of instalment to living in a house that they would probably own after twenty years.