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Renting a House & Buying a House - Essay Example

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Buying a house has its own advantages and disadvantages as compared to renting a house. Buying the house is a more flexible option for those who do not intend to live a long time in the present house. …
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Renting a House & Buying a House
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Download file to see previous pages A house on rent would be the best option for a college going student. There are many college going students who do not live in campus. So for them the best options are either they take up PG in their nearest locality or rent a complete house to enjoy the benefits which come along with living in a house. The student community is not a permanent community to live in a house. For them the best option always is to rent a house for a temporary period and then move out as soon as the course gets over. Buying the house is any day a better option as at that time the person is the owner of his own property. However, there are families who are recently married and decide to move out of their parent’s house in search of a private home. For them, it rather depends on more than one factor whether or not to buy a house or to rent a house. The financial condition plays a huge role in determining what option to choose. So if there is a family who has the income to purchase a house then they should consider buying the property for a more lasting future and a stable life. There is no denying that owning a house is a much more stable option for families than renting a house. The feel good factor of owning the house is a much better feeling than being a tenant in someone else’s property.
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The family which is not in a position to buy a house may take a loan to own a house, and keep paying monthly instalments in return of the loan. A stable life only comes with a stable house and a stable locality. This is imperative for a long and continuous life which includes a strong base with respect to the place the family is living in. When the family has been able to garner enough money and resources, then comes the question of which house to buy and where to buy. This is the most important question which needs to be answered with respect to the purchase of the house. There are often times when the families buy the house when they are expanding in size. This could be due to a baby arriving in the family. Or otherwise, there are also times when the families decide to buy the house due to a promotion, change of a job where the members of the family start earning more. Financial conditions are the most important condition which is kept in mind before the purchase is made. This is done to highlight the significance of the role money plays in determining the placed of living for the families. In all such circumstances buying the house is the best option overall. The arrival of a new born is a significant approach towards the purchase of a new house. It is important to note that families tend to find new places to live for their new born as they think that the baby deserves the best environment to grow and excel in life, which means that the got to shift off their present location and find a more beautiful location to raise their new born. Apart from this, a new job is also a major criteria for families to buy a house. As a first time buyer of the house, it is important to chalk out the needs and objectives before moving into the ...Download file to see next pagesRead More
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