Renting Vs Buying a Home

Thesis Statement

”Buying a home in today's economy is not easy”

Introduction

Many people always have many decisions to make in life. From a financial standpoint, such decisions can vary from taking a job far from home to buying a new car. At most times, one of these issues would concern also whether to rent or to buy a home. People still may find it difficult facing the issue of whether to rent a home or buy one that they can finally call their own. When faced with this concern, there are certain factors that people should try to consider before making their decision. A good decision on whether to continue renting out a place to live or in buying one would depend on how these factors come to play out in a person's current situation or circumstance. The research paper will be discussed statically in order to find out the facts regarding Renting Vs Buying a home. The paper also illustrates some of the best places in order to rent or buy in San Diego, Ca (Bertus, pp.266).

Discussion and Analysis

The current economy does not allow most people to get their own house by the amount of investment that this represents but thanks to the income method to own is one of the alternatives to increase the accessibility to housing for the population groups with low and middle income who have difficulty saving the down payment and access to a traditional mortgage. You when renting a house with option to buy, make sure that the lease is established all the terms and conditions that define their rights to occupy the property and its option to buy. For example, the lease may require that you can rent the property only until someone offered a purchase contract and he accepted. Find out how long you will be given for the move and any other terms regarding use of the property. When you decide to buy your house, it is important that you find out and solve the answers to all your concerns and your initial questions, so that, in making the final choice, do it with total success. Thus, the purchase will be for you, your family a happy, and do not generate any kind of problems in the future. For that, you get the maximum information with absolute clarity. To facilitate the financing of your home is crucial to meeting certain prerequisites:

1. You have before it the taxes (taxes) for the last 2 years.

2. Provide proof to show where you have worked the last 2 years.

3. Show your current income and your job is safe and reliable.

4. Clearly show in your credit history.

5. Knowing in advance the values of the down payment and closing costs.

6. Know that you have the resources to pay the mortgage and monthly additional costs.

Unpleasant moment in the purchase of housing under construction - the need to wait for completion. If the apartment is bought at the stage of ...