...Renting an apartment is a better option than buying a house Home buying is not for everyone in today’s economy renting versus buying depends on many factors such as how much up front money is available to you, how quickly buying or renting will rise, and how long you plan to live there. Inflation has made buying a home more difficult because the credit standards are much higher consequently these circumstances has made renting a better option than buying for the ones that are on their own for the first time, buying a home is a future dream and because there are many cost associated with home purchase, we have to consider which is more beneficial to your bottom line. Weigh the facts with a caveat that something’s are not as great as they sound, and weigh the options so that there are no surprises when that moment comes. Some might see renting as throwing your money away, but realistically speaking, if your credit is near perfect then the best choice for anyone who is not credit worthy, is to rent an apartment. There are a lot of reasons that shows that it might be a better option, but this shows that you have to be effective. Another point to remember is how long the buyer has to save up for the down payment so that they are limited to other investing that could be making large profits. Renting is much easier because you don’t have to all the up front cost or have the best credit, and if you are looking to stay between five to six years then the better option is renting...
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...Renting an Apartment versus Buying a Home Composition II / 156 March.20, 2011 Outline for my Essay Why should we buy a home vs. rent an apartment? There are a lot of factors to consider for both. There are a lot of steps to finding out what you would want if you buy a home and if you rent an apartment. The factors can be overwhelming and yet very important. So the first thing you need to do is get all of the information that you are looking for and put it down on paper. Then you need to weigh the pros and cons of them. Just to make sure you understand what it is you have gain and give up for each type of dwelling and how you want to own it. You also want to look at the financial part of it as well. Make sure you can afford what you are looking for or look for what you can afford. In the end you will be able to logically decide on what to do with your dilemma. So there are many factors however there are also the benefits and what you want to be responsible for and not be responsible for. So the choice is up to you and only you can make it happen. I am just giving you the information to make an educated decision. I rented for years before my husband and I decided to buy a home. It came years after and when our daughters were elementary age. I enjoy being a homeowner however I also enjoyed renting cause of not having to worry about doing all the stuff the apartment complex had to do because I paid rent. This is just a scratch on the surface of the renting...
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...The Advantages of Buying a House over Renting an Apartment Com/172 The Advantages of Buying a House over Renting an Apartment Buying a house for most is the American dream, but with today’s economy many people are unsure if the dream can be obtained. The main concern for most people would be the financial responsibility. Many people believe that the financial responsibility is overwhelming and they are just not ready. Although some people believe they are not financially ready to purchase a home, buying a house is a better option than renting an apartment for three main reasons. First, becoming a first time home buyer can be a very exciting experience that can have a positive long-term effect on some one’s life. Second, a home buyer can make any modifications or changes to a home. Third, and most important, you will eventually own your home. With those three examples, I will show the advantages of buying a house over renting an apartment. The first advantage to buying a home verses renting an apartment is that first time home buyers usually receive incentives or rewards for being first time home buyers. If the home buyer is purchasing a newly built home, usually the builder will give little incentives such as appliances in the home, a gift card to purchase new items for the home or even interior upgrades to the home. In recent years, there was a huge increase in the home buying market. This was the first time home buyers tax credit approved by the federal government...
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...Renting an Apartment is a better option than buying a House (Week 2 Day 7 Assignment) Is renting an apartment a better option than buying a house? My argument is buying a house is a better option than renting an apartment. The point of view will support my topic by including facts, statistics, examples and details. The point of view will include the pros of buying a home versus the cons of renting an apartment, such as buying a house is an investment versus throwing money away, buying a house can be a tax deduction, buying a house is an investment you can live in, having a fixed mortgage rate in buying a house is a better financial option than having to deal with the inflation of rent every lease renewal, last but not least buying a home will allow you to update and upgrade as you wish, inside and outside. My point of view will also include facts and evidence against the opposing position. An argument cannot be one sided. Including evidence such as an apartment is rent and rent is money that is not an investment, you can add up all the rent you have paid in the past twenty –five years and have nothing concrete to show for it versus paying a mortgage for the past twenty-five years and could own the house in another five in most cases. In an apartment you cannot upgrade as you wish, you may risk rent increasing every year upon the lease being renewed and new management can take over and you lose your apartment. With a house, you get a garage, with an apartment you have...
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...Macroeconomics is the study of the economy as a whole. This concept takes into account the effect that unemployment is having on the housing market, how does the increase or decrease of taxes effect the spending habits of people, and the most recent favorite of us as Americans, how nationalized healthcare will increase or decrease the amount of small businesses in the near future. Now that we fully understand the differences between micro and macroeconomics it will make is easier for me to tell you which two concepts in the simulation were micro and which two were macro. One of the first concepts that we learn about in the simulation is the concept of supply and demand and what effect it has on the rate of rental of the apartments. Learning that we have to get the apartments filled with people is the best way to increase revenue, but also knowing there is a fine line between what a person is willing to pay and how much revenue we need to generate to be a successful business. We also know that there is healthy sense of surplus that generates a demand. Which is also another concept of microeconomics; people want what other people have....
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...faced with having to make the decision to buy or rent. After researching found I could buy a 4 bedroom house in a good area for same price of renting a 2 bedroom apartment. Also working for the government I knew the tax advantages I would get so I don’t have to tell you which decision I went with. III. Today I am going to show you that buying a house is a better choice then renting even in this unstable economy. IV. There are many programs that help people purchase a home. First time homebuyers even with bad credit can qualify. Do you know where to look? I will provide you with some internet sights that can be of assistance. V. There are many reasons why home buying is better than renting; the few that I will talk about are 1. Long term buying costs less on a yearly basis then renting. 2. Good financial investment and low interest rates and 3. Tax advantages Now that we are coming to a close on the semester some of you are going to be faced with the decision upon graduation as to whether you should buy or rent. I. If you have already decided that you will be staying in a certain area for at least 7 years it is shown that buying is cheaper than renting. a. On April 21st. 2010 the NY Times reported that if you remain in your home for 7 or more years you will save approximately $759/year over renting. b. Did you know you could also use the rent ratio to help determine what areas are better to buy in? To determine rent ratio you look...
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...common areas - are owned collectively by all of the building's residents. A less technical way of describing a condo is an apartment that you own. In real-world terms, condos often take the form of an apartment or similar shared complex, but theoretically, a condo could physically look like anything.1 The difference between a condominium and an apartment is purely legal. What defines a condominium is the ownership. Technically, a condominium is a collection of individual home units along with the land upon the land which they sit.2 Condominium units are generally popular in areas with high property values, and vacation hotspots and urban settings are both locations where you can expect to find them on the market. This is mainly because buying a singlefamily home can be quite expensive in cities where additional building space may be scarce especially in Metro Manila. As such, condos can open home ownership to whole new groups of people. There are many good of reasons that a condo could be a better alternative to an apartment or single home, and money is surely one of them. According to The Real Estate Journal, the prices of condominiums tend to appreciate at a 1 2 Ezinarticles.com wikipedia slower rate than single-family dwellings, making them a more cost-effective choice in markets where prices are on the rise. And, compared to renting an apartment, since you actually own your condo, you can take advantage of tax deductions, such as the interest on your mortgage. Real...
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...A New House - Risks and Benefits XECO/212 When to deciding to buy a house is a lifelong goal for many people. Imagine that you are renting a studio apartment and have just discovered you are having a baby. Your present apartment is small and far from schools and local services. You have decided to move. There are many factors that come into play when making such a large and weighty purchase. Examine the decision-making process from the perspective of an economist. In your Final Project, you use these principles and other factors to make a final decision whether to buy a house. Purchasing a home for the first time can be overwhelming. A house can be the largest investment someone makes. It can provide advantages, but it can present disadvantages as well. The following principles can be used when deciding to purchase your first home, “People Face Trade-offs” (Mankiw, 2007) or “The Cost of Something Is What You Give Up to Get It” (Mankiw, 2007). When deciding to purchase a home, the principle “People Face Trade-offs” can be applied to help make a final decision. The making of the decisions requires trading off one goal against another (Mankiw, 2007). The buyer must sacrifice a little to gain a lot and a first time home buyers must realize that it takes a lot of money to purchase a home. The buyers must sacrifice things such as vacations, movies, special occasions, and extracurricular activities to save money. The money you save is important to provide the down payment, home...
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...OUTLINE Renting an apartment is a better option than buying a house. Thesis: Choosing to buy is an option one has to take time to think about. Paragraph 1: Show reasons why buying is better than renting. Things to consider when deciding what is better for you. Paragraph 2: Buying is cheaper than renting. Lower interest rates. Fixed mortgage rates. Paragraph 3: Show what you can not do when renting and things that can happen when renting. Things you cant do when renting. Why one decides to buy versus renting, many are scared to comment. Paragraph 4: Reasons why renting may be better for some people. Show examples of reasons of why. Conclusion: These are reasons why buying is better for most people. I sequence my paragraphs in this order, because it made the most sense to me. Starting with reasons why buying is better, why buying is cheaper than renting, things you can not do when renting, and there are some people who should not buy yet. Doing it this way insures my essay to have less mistakes and make more sense. I think this outline gives me a good start and will insurer I stay on topic and in sequence with the way they should be. Starting with reasons why buying is better than renting just seemed to be the way to start, and will keep the readers interest. This is very important when writing or the reader will not read your story. Showing the outline this way keeps the flow and the paragraphs will go good together. The last paragraph states...
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...Compare and Contrast Paragraphs I do not think have any terms to define. I will try my best to write what rent means and the write what buy means. Although I know that everybody already knows what they mean. Rent is where you pay a certain amount of money every month for the use of the property. Buy means to acquire by payment. So when you are renting something you paying to use it, when you are buying something it is yours to keep so to speak. I do believe that those are really the only two terms that I will have to define. Yes I will be using compare and contrast paragraphs. I will be comparing the same benefits between buying a house and renting an apartment. There are not many similarities between the two. The only thing I can think that would be the same would be the fact they both supply a roof over your head. When comparing these two I will have to look for some similarities between the both. The contrasting part of the essay will not be that hard. There a lot of differences between renting and buying a home. This part will be easy to do. The hardest part will be comparing the two. I will be contrasting the difference between renting and buying a house. When you rent there are things that you can technically get by with. When you buy the more things that you have do and there are certain things that you can do. When you rent there are certain thing that you cannot do. Which when you rent there are all kinds of rules that you have follow set by your landlord. When you buy...
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...girlfriend and I are going through an important change as we speak; moving into a bigger apartment. Any vital decision entails stages to guarantee that everything is completed in the correct manner. In my case, many stages will be repeated and changed before moving to the next stage. I am not following any kind of proper process because steps to moving can change at any time. A couple of months ago my girlfriend and I decided that it is time to move into a bigger apartment or rent-to-own a home. We are in the middle of eliminating the wants and needs in the decision of the bigger apartment. The first step is to establish an affordable rent range that we feel comfortable and flexible with. We agreed that the range should be somewhere between $1,200 and $1,500 for either a large one bedroom or 2 bedroom apartment with 1 or 2 bathrooms. The next step is the searching and using all sorts of websites to find such apartments that are decent, recently renovated and near various public transportation. This is a very difficult step because some websites are fraud or set up scam apartment flyers. We are also trying to avoid looking for apartments through realtors and brokers because it costs us more money to move into the apartment, which means it will take longer to save more money. We seem to be having better luck looking for apartments to rent by a previous owner not renter. Renting an apartment off of the owner is better because they are more leant with rent and don’t ask for detailed...
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...question at some-point in his or her life. Will it be the urban life of the big city, filled with its tall buildings, loud neighborhoods, busy streets, and never-ending projects? It might be that that is more than one might want if that is the case, there is the serenity of the suburbs, which offer spacious housing, peaceful surroundings, fresh air, and plenty of nature. Both urban and suburban areas offer people different choices in lifestyles, from the houses and communities they live in, to the noise and activities around them. The cost and size of housing differ greatly from the inner city's high-rise apartments or houses, to those of a spacious urban setting. On average, the cost of the dwelling of comparable size will cost more in the city than that of the suburbs. For example, to buy a 3-bedroom home that is around 1300sf in the city may cost about $148,000, while renting would be around $1,600 a month. To buy or rent a house of similar size in the suburbs will be around $100,000 to buy, and $1,000 to rent per month. 'Estimates were biased on one city and its suburbs, in one state, and will vary from state to state, and city to city. One should be aware of any additional cost that may be needed when making their decision, such as, property taxes, gas or transportation expenses, and any other bills. Size is another factor one should think about; seldom would you find a place in the city that can handle a family with four or more kids. Space is limited, and lots are considerably...
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...clear Good morning my name is Jon Key I am a freshman and a Knoxville native. I live in an apartment in the fort. My intended major is business management with collateral in entrepreneurship. I’m not a big fan of public speaking; I’ve been scarred ever since my first encounters in my high school French classes, and I’m already bad at speaking in front of people so having to present in another language is just awful. On another note, I’m still not sure if college is the right decision for me, sometimes I feel that I could be spending my time elsewhere finding out what it is that I truly want to do with my life. But as for now I figured it can’t hurt to at least get started and have the college experience until I either graduate or figure out what I want to do. As for my life outside the university you will find me mostly hanging with friends, having cookouts, four wheeling in the warm months and snowboarding in the cold months. I also enjoy getting a bunch of friends together and playing poker and pretty much any other card game for that matter. One of my goals for college is to start a business and gain experience so that when I get out I will be ahead of the game and have that business as a backup plan. As for life after college, I have a couple plans; plan A is to be an entrepreneur doing things like: starting and growing small businesses, buying, renting, and investing in apartment complexes, houses, restaurants and other things of that nature. If I go this route, ten years...
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...Home Ownership Versus Renting an Apartment COM/156 9-26-2010 Axia College of University of Phoenix Home Ownership versus Renting an Apartment The American dream for most people today, is to own his or her own home; even with the market having a downturn because of the heavy use of variable-rate mortgage loans. With house ownership the responsibilities are greater because the owner is responsible for all repairs and maintenance. This means that it is important to have savings established to be able to cover such situations as they arise. The ability to own a home for younger families that are just starting out is not always possible. So renting an apartment is a way to get settled, and to work toward setting aside the needed financial resources to purchase a house. For people who are working for a short time in an area renting is a better option, because they do not have to worry about maintenance costs as well as the steps of selling a house, the closing costs, and paperwork involved. This leads to the simple fact that in the market today owning a house is better than renting an apartment. There are several benefits to owning a house that have long-term advantages over renting an apartment. When a house is still under a mortgage the interest that is accrued is tax deductible with annual income taxes, this helps to put aside much needed income to provide for any unexpected maintenance costs. A responsible home owner should already have an escrow account in place...
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...Xeco 212 Checkpoint: a New House – Readiness Checkpoint: A New House – Readiness Leonard Sugue University of Phoenix XECO 212 Economic Theory Audra Sherwood February 17, 2011 A New House – Readiness Deciding to buy a house is a lifelong goal for many people. Imagine that you are renting a studio apartment and have just discovered you are having a baby. Your present apartment is small and far from schools and local services. You have decided to move. There are many factors that come into play when making such a large and weighty purchase. Examine the decision-making process from the perspective of an economist. In your Final Project, you use these principles and other factors to make a final decision whether to buy a house. Purchasing a home for the first time can be overwhelming. A house can be the largest investment someone makes. It can provide advantages, but it can present disadvantages as well. The following principles can be used when deciding to purchase your first home: People Face Trade-offs (Mankiw, 2007) The Cost of Something Is What You Give Up to Get It (Mankiw, 2007) When deciding to purchase a home, the principle “People Face Trade-offs” can be applied to help make a final decision. Making decisions requires trading off one goal against another (Mankiw, 2007). The buyer must sacrifice a little to gain a lot. First time home buyers must realize that it takes a lot of money to purchase a home. Buyers must sacrifice...
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