Renting Versus Buying a Home Free Essays

Renting versus buying a home, what are the pros and cons? I: In todays’ economy, renting is a better option for some families. With the downfall of the economy and the loss of so many jobs, renting a home is a less expensive way for some individuals. Either families had to sell or foreclosure was the only option they had when the economy took the downward turn. We will write a custom essay sample on Renting Versus Buying a Home or any similar topic only for you Order Now Therefore, renting a home became the most convenient option available to those families hit hard from the economic change. One of the most important ideas to keep in mind when looking for a new home is, is this a suitable place.They always have to think about, where the kids will go to school, is this neighborhood safe, and most important will they be happy living here. There are some positive notes to renting versus buying a home. However, there are some cons also. II: The pros to renting a home can be positive. The cost to renting a home is typically less expensive than buying a home. Their monthly rent is less expensive than mortgage payments, and they will not have to pay any property taxes. Property taxes will be the property owners’ expense.They will also have the ease of moving. If they choose to move, they will not have to worry about having to sell their home. If they sign a lease, they can move after their lease has expired. One other pro to renting can be the fact that they will never have to worry about paying for any maintenance or repairs. This will be the property owners’ expenses as long as the tenant was not neglectful and caused any of the problems. The security deposit that they pay upon moving in is what takes care of things that may have happened while living in the home.This is where the property owner will subtract monies when renter moves out for wear on the home. III: There are always cons to renting versus buying a home. When renting a home they will not have any equity in the home. They are paying for something that they will never own. Some people feel that when they rent they are just throwing away money or just helping the property owner buy their property. This is true as this is typically, why people buy homes. They make the mortgage payments from their renters but it is also their means of making money also.Property owners are their own bosses and some do not have normal jobs, this is their means of supporting their families. Renters also have to face that there can be rental increases also. They may sign a lease but when the lease expires, the property owner may choose to increase the rent. One other con to renting is the restrictions that property owners may place. This can be whether they can have pets, paint the walls a different color, or make any changes to the dwelling in which they are living without prior consent from the property owner. The positive to all of this â€Å"That renting is a better way of living in today’s economy. † Yes, there are some positives and negatives but the positives with renting outweigh the negatives. Most property owners will help renters with things that will make them more comfortable but within reason. The renters just need to have an open mind and talk to the owners. Most property owners will bend as long as the tenants talk to them in advance and are willing to pay for things such as painting an inside wall to a different color, or planting things that will make the place more pleasing.Things like this will only increase the value of the home, and if the property owner does not have to pay for it, then they are more than likely to allow something’s within reason. I choose this type of outline because it was a more professional layout. I felt it had an easier feel to it and was a nice layout. I was able to use this outline and still get most of my material in. I also was able to have my topic sentences stated clear, and with all the supporting points in the proper places. This to me was a better outline to follow. How to cite Renting Versus Buying a Home, Papers