Renting Versus Buying Essay -- Compare Contrast Home Ownership

Buying a home office can be an exciting experience for anyone. However, in some cases you just might be smash off continuing to rent your home. There be many advantages to purchase a home. However, it is not for everyone and perverting varies from individual to individual. Currently much people are leaning towards renting but this could change in the near future.When someone makes the decision to buy or rent a home they must drive the advantages and disadvantages of each. In buying a home the primary advantage is that you actually own it. You can do whatever you want with it. Also, you are building honor as the years go by. People today have problems saving for their future (CNN Money, 2014). However, when they buy a home, the money they put downwardly for a down payment is an investment. When the person sells the home they get back the down payment and the amount the property has appreciated in value. When looking at the advantages of renting it is diffused to s ee the disadvantages of buying for some people. Even though you dont get the money back that you put into it, renting could be a more satisfying option for some. This is because renting allows for flexibility. The person can move wherever as soon as there lease is up. Renters whitethorn see buying as a reduction in lifestyle, moving to a smaller place, and perhaps a less expensive neighborhood. (CNN Money, 2014). For example someone who rents an apartment enjoys how the multifactorial keeps up the field of force and all the amenities it has to offer, and it is in an upper class part of town. However, when they buy they looks all the benefits, they have to do maintenance themselves, and move to an area they dont particularly like to fit their price range.So which is better? It jus... ...etrieved October 29, 2014, from http//homebuying.about.com/od/buyingahome/qt/BuyorRent.htmThis article explains how one should decide whether to buy a home or rent. Buying a home should be b ased on decisions of credit report, debt ratios, job stability or relocation, maintenance issues, and financial situation. It explains how not everyone should buy a house. Some people are actually better off renting.To rent or to buy? (2014). CNN Money. Retrieved October 29, 2014, from http//money.cnn.com/2014/10/29/yourhome/q_rent_or_buy/index.htmThis article describes the disadvantages and advantages of buying or renting your home. It describes advantages of buying such as taxes and appreciation of the home. However, coming up with a down payment may be hard for many people. Renters may have less cost and more flexibility on when and where they can move to.