Pros And Cons Of Owning A House

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Is It Better to Buy or Rent a House?
Matt Oberle
Central High Abstract Deciding on buying or renting a house is a very important decision. This paper will focus on the pros, cons, and process of buying or renting a house. Many different factors come into play when making this important financial decision on whether to buy or rent a house. This paper will cover the many steps an individual has to take in deciding whether to buy or rent a household. The paper will also cover how buying or renting a house can affect the way an individual lives. This paper will cover all of the pros and cons of owning or renting a house.

Is It Better to Buy or Rent a House?
Many people ask themselves one question at some point in their life. Is
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Buying a home can cause many changes in an individual’s life. Buying a house makes your taxes get that much more complicated. Buying a house may affect your credit score. The pros of owning a house is building equity. The official definition for equity is “the monetary value of a property or business beyond any amounts owed on it in mortgages, claims, liens, etc.” Another pro is gained tax advantages. Mortgage interest is tax deductible. Owning a house provides a safe and secure place for you and maybe your family to live. It gives you a stable place to settle down and allows your family to expand. Owning a home often gives homeowners a sense of community. Many homeowners try to better their community by trying to lessen crime and improve the community in many other…show more content…
Some pros include flexibility. When renting a house, it is easier to move. The renter will not have the responsibility of finding another person to purchase the property or the house. This might be helpful for people who may have to change job locations frequently or do not plan to stay at one location for an extended period of time. There is also a possibility of living in a place that some may not be able to own themselves. The only insurance the renter will have to have is for the details and furnishings of the house. The insurance would cover what the renter owns. The owner of the house will have to pay for homeowners insurance and the maintenance work done on the

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