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Compare And Contrast Renting Vs Buying A Home

720 Words3 Pages

Mueller 1
Adam Mueller

Scott Harpt

English Composition 1

October 4, 2015

Buying versus Renting a Home Buying a home allows homeowners to pay someone to gain ownership of their own home. Renting a home allows renters to pay someone to live in their home for a period of time. While buying a home and renting seem similar they are actually different. It is a great idea to weigh the advantages and disadvantages of both. They have to consider the maintenance, possible relocation, remodeling to make the home their own, payments to suit their financial needs, and the overall investment. This process will help to determine whether buying or renting will best fit their needs. Although similar, buying and renting are different in many ways. For …show more content…

If the property owner decides he/she wants to replace carpet/tile or wants to paint, they may do so. Homeowners do not need permission to remodel or make a few changes to their home. They have the option to make changes to their home to match their lifestyle. They are not restricted to someone else's style, but rather, can remodel to suit their vision (Hudson Valley Business Journal). Renters on the other hand are unable to make changes as they please. If they want to replace the carpet or want to paint, they will have to get permission from the landlord. Depending on the landlord they may be nice enough to allow some decorating, and some want things to stay as they are. Being a renter, that could be frustrating not being able to decorate to your lifestyle. Another advantage for homeowners is their mortgage payments will remain stable. They never have to worry about their mortgage increasing. When choosing a fixed rate mortgage, their payments will remain the same for the duration of the loan. This allows a peace of mind. While if you’re a renter they may not have a fixed rent amount. The rental fee can increase at any time and sometimes without notice. Landlords may raise their rental fees for numerous reasons. Including upgraded appliances, making renovations, or obtaining a new landlord could affect the rental

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