Answer
Three benefits of renting over home ownership are mentioned below-
1) It doesn’t require any down payment, you have to give a certain amount as a security deposit which is returned at the end of lease.
2) It helps you to be flexible in moving anywhere, you can easily relocate and you don’t have to pay property tax at all.
3) one can change the size of a house easily as per your requirement it may be larger or smaller depends on the requirement and income..
Work Step by Step
Leasing is a practice of paying the money to the owner of the product in order to use the product for the specified time. In the nutshell, it is the long term rental agreement.
The major advantage of leasing a home is you don’t have to pay the heavy down payment amount. It only requires a small security deposit amount which is refundable once the lease expires.
The best advantage of leasing a home is you can be flexible to move anywhere with your work. The relocation is much easier with leasing and in addition to this you don’t have to pay any tax related to home.
