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Essay On Advantages And Disadvantages Of Renting A Home

700 Words3 Pages

The advantages and disadvantages of buying or renting a home.

To purchase a home or to rent, this is one the most important decisions people face every day. Wanting to own your property, the excitement of knowing it belongs to you, giving you a sense of belonging and power, this what all individuals seek. However is purchasing a home the right decision or should one continue to rent. There are many advantages and disadvantages to both.
There are many advantages to purchasing a home, they include
• pride of ownership. Nothing is more fulfilling when and individual knows that something belongs to them. They can decorate and organize the place to make it their own. They experience personal freedom by being able to redecorate remodel or make …show more content…

Depending on the area there will be a cost for homeowners association. That means significant annual and monthly expenses
• . The homeowner has less flexibility to move about. When you purchase a home, choosing a new job, moving to another place, marrying or divorce. This gives you less flexibility so whatever life changing decides a have to be made in areas close to your home.
• When it comes to the market prices fluctuate the appreciation and depreciation of the property depends on the time the home was bought. T may not have enough value to sell if the home owner decides to sell.
Advantages to renting a home
• Renting cost less money, and there are limited financial obligations. The money used to pay a mortgage, pay taxes can be deposited on an account and gain higher returns.
• There is limited maintenance expenses. The renter doesn 't have to take care of repairs, a landlord is responsible for this, but a homeowner is responsible for theirs.
• Budgeting is easier fir a renter. Sometimes utilities are included in the fees. This allows a renter to set a fix amount towards housing every month.
• More mobility and flexibility to move around or change

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