Top Life House Buildings - Essay Example

People with admirable remuneration packages such as engineers and computer scientists should consider investing in real estate. They should buy houses in strategic locations and later sell them for profit after a couple of years. For example, if one finds a residential house that is situated in a friendly environment with access to proper transport and communication network, they should consider buying it. They should, however, ensure that the people living around are friendly and social and the place is less noisy before considering to invest in the house.

Also, they should ensure that the house has access to a proper waste management system and good sanitary facilities before investing in the asset. It is vital that the house has access to water and a reliable source of energy. It is important to ensure that there are various educational facilities around the house that will enable potential residents to educate their children. The house will most likely attract a higher value if there is a recreational center nearby. This you will make it easy to access leisure and entertainment without much hustle.

In addition, the house is better placed in terms of cost if there is a market or trading center nearby so that potential buyers do not have to travel far to shop for various commodities. The house should be spacious enough to allow one to carry out all the household activities comfortably. Engineers and computer scientists should consider buying a house near a cultural center if they have to maximize profits. Having the house as a place of residence before selling it finally will make you more comfortable and secure as you go to work.

According to Warne, Serkes, and Devine (162) if you earn income that ranges from $ 3000 to $4000 per month you can afford to buy a house. You may purchase the house in installments which will cost you some extra cash but never mind our interest charges are as low as 10% of the total price. If you purchase the house at cash price then it will only cost you $600,000. There is down payment of 15% of the total price and $50 monthly payments. Enough time is given to clients to pay for the house at least a period of 20 months.

There will be some insurance, tax and maintenance cost that is relatively low that you will have to meet. The purchase of the house will be formalized to guarantee your security. If you calculate all the cost of the house it will be far much better than having rented it. You may then comfortably sell the house at $800 within two years if you bought it in a prime area. There are several advantages of purchasing a house according to Rejda and McNamara (229-230). Buying a home can serve as an investment for the future; you will at the end of the day get profit from the building when you sell it.

As the owner, you can deduct your property taxes and interest payments from personal income before paying state income rates. There is the pride of ownership and security that makes people feel comfortable and permanent in their homes. It provides lender agreements, improves cash flows payments and there is flexibility in the management of the building. As stated in Garman and Forgue (273-276) there are various advantages of renting a house as opposed to buying it. There is less risk in renting the house because the initial expense is limited while when you purchase you may lose the money if worth decline.

Renting a house is at fixed every month and can enable you to draw a budget. In renting there is greater mobility in case of a problem. When renting a house you can save the money in the account hence earn interest this helps in times of emergency. When you rent you do not have the same responsibility for maintaining the premise. In conclusion, there are a lot of benefits you get when you purchase a house. There are warranties that will be given; it will mean reserving your funds. There is insurance to protect your life and property; you will experience real estate.

There is flexibility in the management of tax aspects, cost and time. The return of renting a house is closely parallel to the disadvantages of buying and the disadvantages of renting a house are closely related to the reward of buying. Therefore purpose to own one of our houses to be on the safe side.