Nobody downloaded yet

Comparison Buying a Home vs. Renting an Apartment - Research Paper Example

Comments (0)
Summary
This paper provides an analysis in order to compare and contrast the buying vs. renting dilemma. A person has two options when available when they seek to obtain a home or apartment. Each of these alternatives has advantages and disadvantages associated with the decision…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.8% of users find it useful
Comparison Buying a Home vs. Renting an Apartment
Read TextPreview

Extract of sample
"Comparison Buying a Home vs. Renting an Apartment"

Download file to see previous pages Renting is an agreement where a payment is made for the temporary use of a good or property owned by another person or company (Answers, 2009). Renting agreement are very popular in the United States because they are a cheaper way to obtain a home or apartment. A person that rents does not have to pay any property taxes since they are not the owners of the home. Lease agreements for apartments or homes typically are signed for a time span of one year. A person that rents an apartment benefits in others such as having great flexibility. If a person does not like the place, they can move out into another rented apartment after the term of the lease expires. Another advantage of renting is that a person does not have to have good credit in order to qualify for the lease. Credit scores and standing are rarely a part of the renting agreement process.
We are living in some tough economic times. The unemployment rate in the United States has reached a whopping 9.5% (Bls, 2009). When people lose their jobs sometimes it is hard to pay a mortgage. A person that leases can maneuver better during hard economic times. A person that leases has the option of leaving the place and moving in with relatives until they get back on their feet. A rental agreement is short term commitment, thus it gives a person more flexibility as far as being able to relocate easier. Despite the many advantages of leasing, there are also major cons associated with renting. A person that pays rent is always giving money to someone else without the benefit of getting any financial rewards in return. When a person rents they are basically paying another bill, thus renting could be categorized as a type of expense. Buying a home is a completely different proposition.
  ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Renting versus Buying a Home
..., which is a gateway to economic success. It may be argued that buying a home is an expensive affair as it requires one to make a considerably high amount of deposit as opposed to renting, which in most cases only requires one to make a deposit equivalent to a 3 months rent. However, it should be noted that even though this is true, buying is far much cheaper in the long run (Brown, 2006). For example, one may be required to undergo opportunity cost between buying a house for $200000, payable in 20 months, or rent an apartment for $1000 a month. If he buys the house then, he would be...
5 Pages(1250 words)Essay
Renting an Apartment Is a Better Option than Buying a House
...Renting an Apartment Is a Better Option than Buying a House The world has become very fast paced and there are many important decisions that a person has to take with regard to his living and other important financial issues. Financial situations need to be dealt with care owing to the losses that can result due to a wrong decision. At the same time, a correct stand on a financial matter can serve to improve the living standards of a person and put him in a good economic state for extended periods of time. Thus correct economic decisions are very essential in the long run and can prove to be beneficial. One such economic decision relates to the choice with regard to...
4 Pages(1000 words)Essay
How is buying a house better then renting a apartment
...?One of the most important basic necessities of all human beings is shelter. A home is a sacred place where families enjoy the company of each other.There are two options a person has in order to comply with their shelter needs. A person can either buy or rent a home or apartment. The housing market is a multi-billion dollar industry. This marketplace recently went through a crisis in 2008 that depleted the values of homes. Thousands of Americans lost their homes as a consequence of the recession. Many homeowners entered the renting market as banks confiscated their homes in foreclosures....
4 Pages(1000 words)Essay
Home Buying
...?Home Buying Essay Table of Contents Introduction 3 A) The Area 3 Online Statistics 3 2) Neighborhood Information 4 B) The House/Condo 5 Selling Price of Neighborhood Houses 5 2) The Open House Evaluation 6 3) The Selling Price 7 4. Student Evaluation 9 References 10 The Listing of the House 13 Introduction The open house/condo chosen in this paper is the 19551 which is located in the Rinaldi Street in Northridge, California. It possesses a momentous inheritance being built in the 1976 but comprise almost every benefit of a modern house. It has been built on a lot of acres as a 1,520 square foot condo with 3 bedrooms and 3 full baths (Weichert, “Condo for Sale in Northridge, CA”). A) The Area 1) Online...
7 Pages(1750 words)Essay
Buying house is better than renting an apartment
...it or rent it out to someone else. Buying a house is also a favourable option due to the current economic situation. The dip in the property price has enabled many people to invest in a house, which is a far better option than renting an apartment. Keywords: buying, house, renting, apartment, property, investment, mortgage. Buying a House is the Winning Choice Did you know that you can purchase a house for $100k and have a mortgage of $900.00 dollars, which is less than average rent? According to World Time News Report, the national average two-bedroom fair market rent...
4 Pages(1000 words)Term Paper
Renting an Apartment in Japan
...When renting an apartment in Japan, it is imperative to first have an understanding of the Landlord/tenant laws of the country. Thiscan be done by surfing the internet or visiting a local library. A new renter may feel that they have little rights or remedies. As a result property market crash in the early 1990s,Japanese banks were filled with repossessed property with non-paying tenants in it. It was also terribly difficult to sell the property, because of the tenants that came with the property. ("Japanese landlords get key money") To revive the housing market, several laws were passed to make it easier for landlords to evict tenants. Accordingly, Japanese landlord tenant law is now very much in...
3 Pages(750 words)Assignment
Renting versus Buying
...30th August, Why renting is a better option than buying? One of the most frequently encountered decisions in life in the modern world is to choose whether to buy a facility or to rent it. There are a lot of professionals dealing in real estate business who provide a list of justifications to prefer buying a house over renting one, but their reasons do not appeal to everybody at the same time. Decision to buy or rent a house is to a great extent, a matter of individuality and the individual’s identity, origin, career and the financial status. There is no doubt in the fact that it is always a good idea to...
4 Pages(1000 words)Essay
Renting an apartment is a better option than buying a house
...from http://www.salary.com/Articles/ArticleDetail.asp?part=par241. Bluejay, M. (2010). The ultimate rent vs. buy calculator: Which is better, renting or buying? Retrieved from http://michaelbluejay.com/house/rentvsbuy.html. Life123. (2010). Mortgages Guide. Retrieved from http://www.life123.com/career-money/real-estate/mortgages/mortgages-guide.shtml. Pascale, C. (2009, June 5). Buying a Home to Later Turn Into a Rental: Things to Consider When Puchasing Investment Property. Retrieved from http://www.suite101.com/content/buying-a-home-to-later-turn-into-a-rental-a122657....
4 Pages(1000 words)Essay
Buying a home vs renting a home
...Buying a Home versus Renting a Home Playing Monopoly as kids has been a reality for most kids. This has imbibed an early awareness of property and mortgages in everyone. Moreover, as time passes, almost all children move out of their parent’s home in search of new horizons. An imperative part of this search includes finding a nice, affordable place to live in. However, before finalizing any house, there is a greater issue that has to be decided upon: buying or renting a house. Buying a house requires a lot of responsibility and a lot of hard work. Ownership though very tempting, is not an easy task nor...
10 Pages(2500 words)Research Paper
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... , they...
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 Research Paper on topic Comparison Buying a Home vs. Renting an Apartment for FREE!
Contact Us