Renting Is Better than Buying Essay Example | Topics and Well Written Essays - 1000 words

Renting Is Better than Buying - Essay ExampleRenting an flat tire remains quite economical as compared to buying one. With the passage of time, renting proves to be cheaper than buying an apartment. It is constantly well(predicate) to make a cost-benefit analysis enchantment deciding whether to buy or rent a home (Vij). Where renting a syndicate costs an individual as much as $ergocalciferol on the average, the same house may cost an individual between $1000 and $2000 per month in the form of mortgage that further gets factored to accommodate tax and insurance. Also, in the recent years, rents have barely budged while house prices in New York, Washington, Los Angeles and elsewhere have doubled, renting has become a surprisingly cleverness option for m all bulk who never would have considered it before (Leonhardt). Whenever an individual has enough coin to invest, it is advisable to estimate the difference of the mortgage payment and the rent, and invest that sum into the stoc k market. Benefits of rentingAcquiring the bring for constructing a house is quite a lengthy and tiresome process. An individual is supposed to possess resplendent credit and a considerable sum for making down payment. Good interest rate cannot be gained with unwrap a good investment sum. Buying a home requires an individual to owe the lender money for many years that follow. Renting the house provides the individual with the leverage to pay as long as he/she lives in it, and later decide as per convenience. When an individual owns a home, he/she essentially becomes accountable for all matters that concern the accommodations maintenance and appropriate functionality. ... When the sewer line in house damages, it is the owners responsibility to fix it and bear all expenses. The plumber may motif to roil up the earth in order to change the existing pipe or lay out a new one. Such activities consume a volume of money, which the owners have to pay. In comparison to that, people liv ing on rent do not have to bear the additional expenses of maintenance and fixation. If something becomes improper in a rented apartment, the tenant makes a call to the owner to get that fixed, without having to pay for the job. Likewise, a someone on rent does not have to pay for the maintenance of lawn or other areas of the house. The renter only if has to compensate for the damages that have been caused by him/her. Renting a house does not require the renter to have insurance because of lack of ownership. All a renter is required to have at level best is the renter insurance as it makes it cheaper for the renter. Taking all these factors into consideration, a working class employed person enjoys far more benefits in renting as compared to buying a house. An analysis in lightheaded of economic recession In the contemporary age of economic recession, a lot of owners are exchange their homes in order to meet their daily living expenses. The widespread economic recession has caused a lot of business entrepreneurs to downsize their workforce in order to minimize the overhead charges and maximize the profits. Renting proves to be the around convenient and flexible option for such employees, whose jobs are endangered and who can be fired any time by their employers. Such people want the facility to shift anywhere anytime as per the need of the employment. However, it is always advisable to acquire a short term lease in order to go out