PERSUASIVE ESSAY

Persuasive Essay



Persuasive Essay

Introduction

For most people, the biggest purchase they will make in their lifetime is that of a home instead rent it. Owning a home has many benefits: it is great to be able to call a place your own, to put down roots in a community, and your living space however, you like. Buying a home also makes a lot of financial sense: instead of paying rent to a landlord, you pay off part of your mortgage (home loan) every month and come closer and closer to owning the place outright; meanwhile you can deduct the interest you pay on loan from your taxes. As you build equity (value of the property minus the outstanding balance, or what you still owe, on the loan) on the home, you increase your financial security.

Thesis Statement

Buying a home is better than renting when the rate of growth of house prices is greater than the yield.

Discussion

There has always been the debate of whether to buy or rent the house where you live. Whenever, the time comes when we decided to become independent. Emancipation is a step in personal development, since everyone needs sooner or later, their own space. In US, unlike other countries in Northern Europe or Asia, has always clearly dominated the culture of the purchase of home ownership versus renting. It is clear that fundamentally, the act of buying or renting housing will depend on costs. And within them, to differentiate the initials make the purchase or lease, and the totals given the long time horizon. Average buying costs include mortgage payments, income lost by funding a deposit rather than saving and spending on household maintenance and repair and insurance costs.

The average monthly costs associated with buying a two bedroom flat in the US for a first-time buyer totaled $567 in July 2011, 16%, lower than the typical rent paid on the same property type - $677 a month. This is in contrast to 2008 when the average cost of buying was in fact, $212 more than the average rent paid. The cost of buying for a first-time buyer has fallen by 2% over the past year whilst average rental costs have risen by 6%.

The decline in buying costs for a first-time-buyer has been driven by the fall in mortgage rates and house prices since 2008. The average mortgage rate for a new borrower stands at 3.84%, a fall of ...