ABSTRACT
When considering housing a choice needs to be made between buying a home and renting. Each has its advantages and its disadvantages.The advantages of renting include mobility.When renting it is relatively easy to move home since no buying and selling is involved.Another advantage is the low initial cost.When buying a property a substantial deposit is usually required. In addition there are other initial costs such as stamp duty (a tax on home purchases in the UK).These initial costs are avoided when renting.A third advantage of renting is the absence of responsibility for repairs. The landlord must pay for the maintenance of the property.
