Advantages And Disadvantages Of Renting

In the early years of a mortgage, the majority of the monthly mortgage payment goes to paying the interest. Over time an increasing amount goes to reducing the principal. As the principal is reduced, the equity will increase on the owners home. Owners Gain tax advantages by deducting mortgage interest and property taxes from their federal income tax form. They should Stabilize their payments with a fixed interest rate on their home loan. They should Have a secure place for their family to live. A home provides a permanent place where a family can live and grow, and the owners can decorate or expand a house the way they would like to create their dream home. There is always a negative compared to a positive. A home could lose value. There is no guarantee that a home will increase in value. It could decrease in value especially in a rocky housing market. Another benefit renters have over homeowners is that they do not have to pay property taxes. This can be a

Disadvantages of leasing include the zero accumulation of equity. Also if the lease period is too long, you could be locked into an agreement for space that no longer serves your needs. Additionally, the property manager or landlord can limit expansion and modification (Spohn, 2010). These issues would need to addressed with the landlord prior to avoid any issues post-signing.

Typically when renting an apartment or house, there is much less responsibility. Depending on whether or not the place is furnished, you could possibility not have to furnish your place. Usually though the appliances are included when renting an apartment, but typically not a house. A renter is not responsible for making any repairs to the home, or the property. Another thing that is not included when renting is the property taxes or house insurance [ (McCay & Hawks, 2002.) ] A renter though must have Renter 's Insurance to cover any damages that are made to the renter 's own property [ (McCay & Hawks, 2002.) ] These two things could be very costly to a home owner. Of course you are responsible for renter 's insurance, but it is usually cheaper than home owner 's insurance. When you are home owner the amount of responsibility could be overwhelming for some people. Especially if you are a first time home owner, and have been renting since you moved out of Mom and Dad 's place.

Those who argue in favor of rent control say that it is the only way to protect

According to SMBGC’s website, SMBGC’s mission is to “inspire and enable young people, especially those who need us most, to reach their full potential” (smbgc.org). “Those who need us must” refers definitely to the miracles of our lives: the children. SMBGC’s child focused mission is a value for the community, which is important and relevant to consider. It was the significant reason that I wanted to participate at this site.

With the exception of the Steelers who had to deal with the Patriots for a career playoff fourth time, not a one of us thought these high powered offenses would be stopped. To many of us, these teams represented – in the words of Mike and Mike – “stone cold lead pipe locks” and surefire winners for that upcoming Super Bowl season. I mean how many number one defenses have ever shut down number one offenses? The New York Giants defense was ranked seventh in 2007 when they entered the playoffs. The number one ranked Steelers defense couldn’t even handled the Patriots that year. But as it stands, great defenses seem to have a way of cutting great offenses down to size.

After the United States suffered one of the biggest foreclosure crisis in its history, countless of American homeowners were forced out of their homes when the economy collapsed. In a slow and often painful recovery process, many are battling continued high interest rates and home prices in attempt to get back their families back into a normalcy of life. As a solution to the ongoing ownership dilemma that many currently face, the concept “rent-to-own” has come into the economic limelight. This resolution has started to be viewed as a realistic option to regain ownership and improve quality of life after the fallout of the foreclosure catastrophe through benefiting both buyer and seller of real estate.

The most attractive benefit of owning a home is the equity one builds through mortgage payments. (Starobin). For the average person, equity in a home, a valuable asset usually

Some individuals may believe that buying a home is part of the American dream and that renting an apartment does not compare, yet satisfied renters would disagree. Even though owning a home provides a sense of security while allowing modifications without permission, renting is preferred more often over buying because the expense of updating, monthly payments combined with utilities, and paying insurance on a home comes with a high price tag. A homeowner does have several luxuries such as forming lasting friendships with their neighbors, making landscaping changes to their yard, painting and designing their home. While that remains true, renting an apartment comes with several different options and

The economic decline has possible home buyers, especially first time home buyers, scared to invest anything into the housing market. With the fear of another depression in the back of everyone's minds, some businesses are attempting to clarify the pros of home ownership.

Full time student and soon to be graduate, Kyle David Bellini, has many opinions regarding the renting versus buying a home debate. As he is studying real estate at the graduate level, his education has given him more insight into the matter than most. There are definite pros and cons

In short, lack of motivation in exchange for more red tape causes investors and landlords to move towards more profitable options. This movement of money and resources tends to negatively impact people trying to find a place to live, most notably the poor. The National Multi Housing Council (NMHC) states that prospective customers must pay finder fees to find a rental property due to a presumably growing scarcity of available housing. As if this were not bad enough, in some communities rental properties are handed down to friends and family, so they never quite leave the market. In order to obtain housing, new consumers are forced to pay “key money” and other fees. These costs tend to impact young, single, and poor families the most.

Buying a house has some very good ownership benefits. As a buyer and not an actual

Owning a property has long been a gateway to the American dream. Individuals have possession of the house if they have enough money to afford the payment on a home, and be willing to purchase it. As the owners, they have the power to make decisions about the property. Other people who rent have limited control and have to depend on the ruling of the owners even though they pay the rent monthly. Advocates of house renting may claim that renting seems to be a better option than buying in the aspect of cost. However, they often overestimate the benefits of renting and lack consideration of the time factor. Instead, many people argue that buying a house is better than renting since it brings tremendous advantages to individuals and the community. In the United States, there are 56% of people own a house, and 25% of non-homeowners are looking to acquire their home in next 25 years, while only 11% of non-homeowners do not hope to own a home in the future (Newport, 2013, p.1). Therefore, purchasing a property is the desirable and the best option since it generates financial benefit, build self-confidence for owners, and profits the construction of the community harmony rather than renting a house.

When someone makes the decision to buy or rent a home they must consider 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 equity as the years go by. “People today have problems saving for their future” (CNN Money, 2014). However, when they buy a home, the