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Renting versus Buying a Home - Essay Example

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Summary
The paper 'Renting versus Buying a Home' shows that buying a home is better than renting. It is pointed out that buying has various advantages such as allowing the owner to modify and customize it to suit his or her needs. Renting is also be discussed as a possible way of solving short term housing problems…
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Renting versus Buying a Home
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Renting versus Buying a Home

Download file to see previous pages... Before a person can go ahead to acquire a home, it is highly important for him to weigh the merits and demerits of the method he is intending to use i.e. either buying or renting, in order to avoid regretting later. For example, different persons have different tastes and preferences when it comes to colors or structural designs. This means that once a person acquires a house, he would want to modify the already existing designs to suit his tastes. Buying a house thereby becomes the best option as you thereby become the rightful owner, enabling you to do whatever you want with it, whether to repaint, change the doors, modify the roofing among other activities. In fact, you can go ahead to build other permanent structures on the compound such as parking lot, without necessarily having to request for approval from any other party. Renting a house denies you this opportunity as the decision to conduct such modifications is the prerogative of the landlord (Hanson, 2010). In fact, most landlords expect you as a tenant to maintain the existing standards of the house and if any repairs are needed, you have to contact them so that they can carry them out, a process which may end up inconveniencing you. Say for example there is leakage of water from the roof and the rain continues to fall, waiting for someone to rectify the problem at his or her own pleasure may turn out to be discomforting. Buying a home is recommendable as the current markets indicate that it facilitates capital appreciation ...Download file to see next pagesRead More
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