OWING A HOME IS BETTER THAN RENTING

Owing a home is better than renting

Outline

This paper discuss about the benefits of owing a home in contrast to renting a home. It provide in depth analysis on the scenario. Further it also elaborate the drawbacks of renting the home. Owning a house for only a short period of time, will not recover the high costs of buying and selling it. Introduction

One of the major benefits to buying a home instead of renting is the question of equity. When a house is purchased, the payments made will be the owner of that house. The more you pay at home, as much equity you have in that house. When the house is all worth it, is that amount of money as capital of their name. Renting a home does not give you any equity. One of the biggest advantages of owning your own home compared to renting a home is the fact that payments will end one day. Generally, mortgages last 15 or 30 years. After this time period, the house no longer has to be paid. This is a great advantage over the rent. (Theano 2007)

A house can be a great investment, but like any investment, there is risk. Owing a home is better than renting because the advantages outweigh the risks.

Discussion

Housing costs can be divided into housing costs (put a roof over his head) and investment costs (construction of the equity). When you rent, you pay your housing costs, and the landlord pays the investment costs. When you buy, you pay both, which is more. Ten years later, when you sell the house, you may find that your investment did well and saved a lot of money by buying, but on a monthly basis, you can count on spending more money to buy a ...