* In some countries, most people refer renting homes rather than buying them. What are the advantages and disadvantages?

## Advantages of Renting:* **Flexibility:** Renters have the freedom to move more easily, as they are not tied down by a mortgage. This is especially beneficial for people who travel frequently, change jobs often, or are unsure about their long-term plans.* **Lower upfront costs:** Renting requires a security deposit and first month's rent, which is significantly less than a down payment on a house. This makes renting more accessible for people with limited savings.* **Less responsibility:** Landlords are typically responsible for major repairs and maintenance, saving renters time, money, and hassle. * **Amenities:** Some rental properties offer amenities like swimming pools, gyms, or laundry facilities that might not be available to homeowners.## Disadvantages of Renting:* **No equity building:** Rent payments do not contribute to building equity in a property, unlike mortgage payments. * **Limited customization:** Renters have limited ability to customize their living space, as they must adhere to the landlord's rules and regulations.* **Rent increases:** Rent prices can fluctuate, potentially leading to higher costs over time.* **Lack of stability:** Renters may face eviction if they fail to pay rent or violate lease terms, creating uncertainty about their housing situation.