Advantages And Disadvantages Of Renting

769 Words4 Pages
a. Describe in detail the advantages and disadvantages of renting versus owning a home. b. What is the role of the title search in making a home purchase? Prepare an essay approximately 500-650 words in length. Cite references to material that you use in preparing the essay. "Stability vs. Flexibility Home ownership brings intangible benefits such as a sense of stability, belonging to a community and pride of ownership. However, it’s not good for restless or nomadic types. Real estate is the original illiquid asset. You might not be able to sell when you want if the housing market is down, and even if it’s up, there are significant transaction costs when you sell. Changing your mind about where you want to live is far more expensive when you own. Renting means you can move without penalty each time your lease ends, but it also means you could have to move suddenly if your landlord decides to sell the property, turn your apartment complex into condos or bump up the rent by more than you can afford."(www.investopedia.com/articles/personal-finance/083115/renting-vs-owning-home-pros-and-cons.asp#ixzz51iJ4Skqe) "The biggest myth about renting is that you’re "throwing away money" every month. Not so. First of all, you need a place to live, and that always costs money, in one way or another. Second, while it’s true that you aren’t building equity with monthly rent payments, you also aren’t building equity with much of the money you’ll put into owning a house. The overall cost of
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