Buying a House Is a Better Option Than Renting an Apartment
Buying a House is better option than Renting
Amanda Newsome
University Composition and Communications II
November 5, 2010
Louisa Fordyce
Axia College of University of Phoenix
Buying a house is a better long-term investment into the future than renting an apartment. Being mortgage free eventually and having no obligations to pay. “Anyone trapped in a long lease would be wise to consider purchasing property (Cabinet Maker, 1998)”. When buying a home it comes with the property it surrounds. After time having a home the property value increases over time. Also improving a home and fixing things around the house will too make the property value increase. “Even with a home, a person does not have to pay the capital gains tax when the value of the house goes up (Carla Bouchard, 2007)”. With having a house it shows a sense of stability and security. Having pride in buying a home and also accomplishing a great long-term investment. Also with having stability it is easier to apply for loans. The bank or cash place finds stability and will know that the person getting the loan will pay the loan back. Seeing also that having collateral to be safe on. The bank also will make sure the other payments are on time since the owner has bought the house.
When deciding to buy a house or an apartment there are many decisions to be made. These decisions will not be so hard to make after comparing buying a house to rent an apartment. Owning a house is an investment for the future and will be paid off. When renting an apartment paying high costly rent every month and never being able to own a home. Renters usually would not pay as much as buying a house, but if they are putting all their money towards rent, why would you not want to put your money towards something that can be owned and worth value. While if buying a house getting a loan and paying the fixed rate that is set until paying off the loan. Renting is something that will never be set in stone. The rent depending
Amanda Newsome
University Composition and Communications II
November 5, 2010
Louisa Fordyce
Axia College of University of Phoenix
Buying a house is a better long-term investment into the future than renting an apartment. Being mortgage free eventually and having no obligations to pay. “Anyone trapped in a long lease would be wise to consider purchasing property (Cabinet Maker, 1998)”. When buying a home it comes with the property it surrounds. After time having a home the property value increases over time. Also improving a home and fixing things around the house will too make the property value increase. “Even with a home, a person does not have to pay the capital gains tax when the value of the house goes up (Carla Bouchard, 2007)”. With having a house it shows a sense of stability and security. Having pride in buying a home and also accomplishing a great long-term investment. Also with having stability it is easier to apply for loans. The bank or cash place finds stability and will know that the person getting the loan will pay the loan back. Seeing also that having collateral to be safe on. The bank also will make sure the other payments are on time since the owner has bought the house.
When deciding to buy a house or an apartment there are many decisions to be made. These decisions will not be so hard to make after comparing buying a house to rent an apartment. Owning a house is an investment for the future and will be paid off. When renting an apartment paying high costly rent every month and never being able to own a home. Renters usually would not pay as much as buying a house, but if they are putting all their money towards rent, why would you not want to put your money towards something that can be owned and worth value. While if buying a house getting a loan and paying the fixed rate that is set until paying off the loan. Renting is something that will never be set in stone. The rent depending
Cited: Bouchard, Carla. (2007) Newspaper Real Estate Tips. Retrived October 20, 2007from http://proquest.umi.com.ezproxy.apollolibrary.com/pqdweb Commercial Real Estate. Cabinet Maker. Issue 5100, p8, 1p. Retrieved August 8, 1998. Manning Publishing Ltd. http://web.ebscohost.come.ezproxy.apollolibrary.com/ehost.detail