Benefits of Buying

Benefits of Buying

Introduction

Buying is home is one of the most challenging and difficult decisions of one's life, which has to be taken carefully and with great care, as it does not only places a long term and lasting impact but is also of great economic importance. A home is one of the most expensive and costly possession, and the decision is directly influenced by the economic status and financial position of an individual. Furthermore, it is eminent to mention here that not only the decision is affected by the economic position of an individual, but the decision of buying or renting a home places direct impact on the economic status and position of an individual. As far as home is concerned, an individual has two major options: to buy a home or to get one on rent. As home is one of the basic and major necessities of life and there is no question of living without one, one of these options has to be adopted.

There can be various different forms of renting or buying a home, including sharing home with other and paying the fare, or being the sole tenant and bearing all the expenses by one's own self. On the other hand, there is the option of buying a home, which too has various different forms, including buying a home on regular installments or buying it on one single payment. Although there are pros and cons of both the options, and there are advocates of both the possibilities present in the economic world, but the general consensus has been on the inclination towards buying a home, and a number of economical researches and studies have proved the same.

The process of buying and selling has been there since the beginning of times, and there are evidences that even the primitive man used to conduct business and buy/ sell the products in order to enjoy certain benefits. Although the procedures have changed altogether now and the systems are not the same as before, but the processes remain and things are still sold by some people and bought by the others (Cooner, 2010). With the passage of time, these procedures have been refined and developed for the betterment of human beings, and the systems of taxes and market prices also encourage these procedures.

Buying and selling is also accompanied by the third in between procedure: renting. While buying allows an individual to get ownership of the entity, renting allows him to get the benefits of the products at a certain rate, without having to pay the full price and get the product for himself. The renting procedure has been developed to assist those who cannot afford certain things but are capable of enjoying their benefits for a certain time period. In addition, there are some people who are not interested in getting a particular product forever, which might be due to a number of various reasons, and thus they prefer getting the desired object on rent for a particular time ...