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Discuss why renting a home is currently a popular housing option - Leaving Cert Home Economics - Question 1(c) - 2013
Question 1(c)
Discuss why renting a home is currently a popular housing option. Identify and elaborate on three key considerations that should be taken into account when selectin... show full transcript
Worked Solution & Example Answer:Discuss why renting a home is currently a popular housing option - Leaving Cert Home Economics - Question 1(c) - 2013
Step 1
Discuss why renting a home is currently a popular housing option.
Answer
Renting a home has become a popular housing option for several reasons. Firstly, the cost of buying a home has risen significantly, making it less accessible for many individuals. In cities where property prices soar, renting provides a more affordable alternative, allowing residents to secure housing without the hefty commitment of a mortgage.
Secondly, renting usually requires a lower initial investment in comparison to purchasing a property, as it often does not necessitate a substantial down payment. This factor is particularly attractive to younger generations or those with limited savings.
Additionally, renting offers flexibility and mobility. Individuals may find job opportunities in different locations, and renting allows them to easily relocate without the burden of selling a property. Furthermore, many rental agreements do not tie tenants into lengthy contracts, which can be ideal for those seeking transient living arrangements.
Finally, the maintenance responsibilities typically fall on landlords, saving renters not only time but also money spent on repairs or renovations, thereby making renting an attractive option for many.
Step 2
Identify and elaborate on three key considerations that should be taken into account when selecting accommodation to rent.
Answer
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Deposit and Payment Terms: One of the first considerations when renting is the amount of deposit required. Potential tenants should verify how much they need to pay upfront, whether the rent is to be paid weekly or monthly, and if it includes additional costs such as utilities. Understanding these terms can help in budgeting and avoiding any unexpected financial burdens.
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Responsibility for Repairs: It is crucial to clarify who is responsible for repairs during the rental period. Knowing whether the landlord or tenant bears the burden of maintenance and repairs can significantly affect a tenant's financial responsibilities and living conditions. This should ideally be outlined in the lease or rental agreement.
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Location and Amenities: The location of the accommodation is vital. Prospective renters must consider nearby amenities, transportation links, and the overall neighborhood environment. Factors such as safety, access to schools, shops, and recreational areas can greatly influence the quality of living and should be thoroughly evaluated before making a decision.