Nobody downloaded yet

Owning vs. Renting - phase 3 ip - Essay Example

Comments (0) Cite this document
It is time for me to move out on my own. I have to decide between buying a home or renting an apartment. I love the Austin, Texas area and I’m looking for a place in that location. My biggest hurdle in this…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.6% of users find it useful
Owning vs. Renting - phase 3 ip
Read TextPreview

Extract of sample "Owning vs. Renting - phase 3 ip"

Download file to see previous pages The bank is going to ask for a down payment. A down payment can range between 10 to 20%. Let’s assume I have the down payment money. The bank is also going to ask for closing cost on the mortgage. The average closing cost is 3%, but in certain states it can go up as high as 5% to 6% (Federalreserve). I am making about $4000 a month gross, but clean I’m taking home a little less than $3,000 a month. Assuming I put a 10% down payment the high price range of a home based on my salary would be $200,000 on a 30 year mortgage. My mortgage payment assuming a 6% interest rate would be $1079.19 (Yahoo).
After doing some research on the prices of apartments in our hometown of Austin, Texas I determined that I can find an apartment for rent for about $800. For example a two bedroom, one bath apartment at the Walnut Creek Crossing complex cost $805 a month (Apartments). A one room could be found for about $200 less per month, but it is better to have a second room for either a home office or as a guest room when friends or relatives come over.
Along with the mortgage or rent payment another factor that must be considered are insurance costs. The insurance costs are much higher for the buying alternative than for the leasing. Homeowners insurance is mandatory for people that have mortgages because in case of an accident that destroys the home somebody has to pay for it. Home owner’s insurance policy is divided into two parts: a) home insurance property protection, b) home insurance liability protection (Answers). Renters can also have insurance protection to protect their personal items in case of natural disaster, but this type of insurance is not mandatory. Another cost to consider when buying a home is the state taxes that must be paid on the property on a yearly basis.
After evaluating both alternatives I have come to realization that the best option for me at this point in my life is to rent ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Owning vs. Renting - phase 3 ip Essay Example | Topics and Well Written Essays - 750 words”, n.d.)
Owning vs. Renting - phase 3 ip Essay Example | Topics and Well Written Essays - 750 words. Retrieved from
(Owning Vs. Renting - Phase 3 Ip Essay Example | Topics and Well Written Essays - 750 Words)
Owning Vs. Renting - Phase 3 Ip Essay Example | Topics and Well Written Essays - 750 Words.
“Owning Vs. Renting - Phase 3 Ip Essay Example | Topics and Well Written Essays - 750 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Owning vs. Renting - phase 3 ip

MKT Unit 3 IP

...? New Project Table of Contents Table of Contents 2 3 Introduction 4 Part I: General Research 4 Aspects of IMC 4 Advertising 5 Direct Marketing 6 Sales promotion 6 Public relations 7 Personal selling 8 Part II: Application to Product/ Service 8 2. Overview 8 3. Detailed Description of Common’s IMC strategy 9 4. 10 5. 10 Conclusion 10 Reference 12 Abstract In today’s highly competitive world, fast paced change along with steady technological advancements helps in generating competitive edge for the firms as well as business entities. Organization which can adapt itself with the changing business needs and scenarios are in a greater position to remain sustainable and competitive in the long term. The rise...
8 Pages(2000 words)Research Paper

Phase 3 Behavioral Economics IP

...? Essay, Macro & Micro economics Phase 3 Behavioral Economics IP Explain what a technological change is and how you can use it tolower your costs A technological change is a process of technological advancement or achievement that encompasses the process of invention, innovation and the integration of technology in the processes. Technological change is a continuous process that aims at reducing costs of doing business. Invention refers to the creation of a new thing. Innovation refers to the modification of the already invented item by making it more reliable and flawless. Integration is the final stage of technological change and involves diffusing what has already been invented and innovated in the processes of manufacturing so... of...
4 Pages(1000 words)Essay

Download Movies vs Renting Movie

...Renting a movie has long been a common way for families or couples to spend time on their weekends. A trip to the video store on a Friday night is a tradition for many people, even if it is sometimes inconvenient. This trend might be coming to an end, however, as more and more people are beginning to download movies from the internet. These downloads come in two forms, legal and illegal. Legal downloads allow for the person to avoid the line-ups at the video store and to choose what to watch from the comfort of his or her own home. This, however, has disadvantages, as a significant amount of time must be factored in so that the movie has enough time to download. Illegal downloads are completely free, but...
7 Pages(1750 words)Case Study

Credit Cards - Phase 2 - ip

...Dear son You are now a freshman in college and have entered into a new life where you will be facing new challenges that would help you to evolve as an individual. We all go through these essential phases of growing up and the way we are able to tackle new situations in our life, helps us to develop strong character and tenacity of will that tides us over the adversities in our life. At various stages of your growing up, we too have undergone stages of learning about you and have tried to impart good habits of living that will stand the test of the time and would especially be useful in your freshman days, when you would have to make all your decisions on your own. While we know that you have now become a...
2 Pages(500 words)Essay

Buying a home vs renting a home

..., prices in slow-growing areas will remain consistent or increase very gradually (Christie np). Moreover, purchasing a house is way better than renting one but if someone cannot figure that out, then there is one way to find out what is good for them: the rent ratio. The rent ratio helps them find out what would be best for them: buying or selling. In this, the total cost of the house one plans to purchase and the annual cost which shall have to be paid while renting is considered. If the ratio is above 20, this means that one should consider buying a house but if it is below 20, renting would be the better option. This is not just the only thing by...
10 Pages(2500 words)Research Paper

Unit 3 -IP- Samples

...Hypothesis Testing: Unit 3IP Samples The aim of this paper was to perform a two – tailed t – test on both, the legal services satisfaction and the sentence satisfaction, using a 0.05 significance level. The t – test used was a two – sample t – test. The test failed to reject the null hypothesis that the average difference between the two variables is the same. Descriptive results indicate that the means of the two variables are similar. In total, there are twenty five samples of each variable. Their means are similar: the mean of the legal services satisfaction is 5.232, whereas the mean of the sentence satisfaction is 4.952. In order to test whether the two variables have the same means, a two –...
2 Pages(500 words)Essay

IP 3

...Challenges faced by investors in managing multinational companies Expansion of companies into international countries is a rapidly accelerating activity due to the multiple advantages associated with it. This helps in market expansion and also in exploiting less captured countries. It is however recommended that leaders or management in companies opting to invest in other countries to take the following into consideration to avoid its potential landmines. In foreign countries, there is the challenge of labor costs from the local residents. With huge labor costs, companies will require the have to employ expatriate employees from other sources or home country. However when the cost is low then the company can comfortably employ... faced by...
1 Pages(250 words)Research Paper

IP 3

...example. “Christians generally dislike alcohol. You are a Christian, so you dislike drunkards”. Slippery slope This fallacy involves an assertion from a person that a certain occurrence must predictably follow from another without any claim for the predictability of the occurrence in question (Mills & Hard pressed Poetry, 2002). Consider the following example “We have to end tuition! The subsequent thing, they will increase the charges to $30,000 per semester”. Equivocation This type of fallacy is committed in when a certain term is applied in two or more diverse senses within a single claim (Mills & Hard pressed Poetry, 2002). Consider the following example 1. Christianity attributes to the significance of faith for salvation 2....
2 Pages(500 words)Essay

MATH203-1402B-04 : Applications of Discrete Mathematics - PHASE 3 IP

...APPLICATIONS OF DISCRETE MATHEMATICS-PHASE 3 IP Part We present a tree diagram based on the adjacency matrix provided. It is clear that the graph has five vertices based on the fact that the matrix given was a 5X5 matrix. Since the vertex is connected to the vertex having exactly number of edges, this is in regard to the definition of an adjacency matrix. Moreover, due to the fact that the diagonal of the matrix has zeroes only, the vertices do not contain any loop. If we could recall a simple path graph does not have recurring vertices. Now to obtain the number of simple paths that are connected to the vertices 1 and 5, we write the sequences of the vertices in simple paths of our...
3 Pages(750 words)Speech or Presentation

Advantages and disadvantages of owning VS renting a home

... Advantages and disadvantages of owning versus renting a house Many people have different tastes and preferences and find it hard to choose as whether to rent or own a house. However, statistics show that many are include owning a house than rent. Owning a house fulfills one’s dreams but to some it is a nightmare. In order to buy a house, a lot of finance is required to do so and therefore, prior to purchase, one must weigh all the advantages and disadvantages that come because of having one. In addition, before purchasing a house many questions ought to be put into consideration. For instance, is there necessity in buying a home, will the purchasing of that home make financial sense, among others? The advantages and disadvantages... ...
10 Pages(2500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Owning vs. Renting - phase 3 ip for FREE!

Contact Us