As young people grow into mature adults, they begin to be faced with many tough decisions concerning their future life. One of the most difficult choices to be made is choosing where to live, as it involves selecting a location, judging neighborhoods and job opportunities, and also whether to rent or own a home. Both renting and owning have their pros and cons, so different people would choose one over the other based on their way of life and preferences.

First of all, renting an apartment or room provides more freedom and mobility, yet may be unfit for a family or someone looking for a long-term commitment. When one’s rental lease is over, a person can easily switch homes, move to other cities in search of better job positions or find a better rental. Moreover, the plethora of rental agencies and diverse housing options lets one choose the most adequate residence for him or her. However, renting a large area may be expensive and in the long run more costly than buying a house, so large families and people with secure, satisfying careers may find renting too costly or restricted for their needs.

Second, buying a house offers greater security and versatility for people seeking long-term housing, but it may be too expensive initially. Purchasing a house means possessing a property, having your own land and building. People can do whatever they please with their property, including redecorating, remodeling rooms, tearing down walls, or appending additional buildings. A rental agreement restricts a person from such actions. Moreover, there are no time limitations with owning a home, there is no contract leasing you an area for a said period of time, you own your property until you decide to sell it, or leave it to your kids. However, the initial cost of buying a house is very high, forcing people to take loans to pay for their purchase. Unless one has a secure job salary, such an action may backfire later on, bringing him or her into great debts.

To sum up, renting a residence offers more freedom and mobility, while purchasing a house – greater stability and flexibility. If I had to decide whether to rent or own a home, at this point I would choose to rent an apartment or room, as I want to be able to change homes quickly in pursue of job opportunities around the country.