Essay On Owning A House Or Renting One

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Every day, people buy homes when financially they’d be better off renting because it’s important to them to have a place to put down roots and because they see owning a home as an investment that can grow and as a source of tax deductions.

Similarly, people rent all the time for the flexibility and minimal responsibility it offers, even though they’d amass a larger net worth over time if they bought a place.

A homeowner may have to wait for a while to sell their house (especially if the neighborhood is no longer as desirable).

Overall, renters usually have more flexibility with their living arrangements.

I started my own company, Loewen Clovis Realty, as a way to provide my services for those that need it in the area.

Outside of real estate, I am usually biking around Clovis, hanging out with friends, reading, or attending church functions.Let’s face it, the United States is in a lot of debt.There are two ways that a government can pay off debt: inflation of the currency, or stopping the spending and letting the country go into a recession/depression. Renters are not affected nearly as much as homeowners in times of deflation.The reason is because your future may change in an instant, and it is a lot harder to move from an owned home than it is from a rental.I wrote an article about why it wouldn’t be cost effective to own unless you planned on staying for at least 2-5 years.While it is true that most homeowners pay less for their mortgage than a comparable rental, they also have to worry about maintenance issues.Some of these maintenance costs can be quite expensive; roof repairs, plumbing problems, painting, electrical issues, and more.Your rent payments are predictable payments, no worrying about unpredictable maintenance expenses that come up.If a person does not have a large down payment (at least 20%), they will probably have to pay Private Mortgage Insurance, which can make owning nearly as costly as renting.If you are in a situation where your living arrangements could change quickly, renting definitely offers more flexibility than owning.Some people just love to move often, and renting just works better for them.


Comments Essay On Owning A House Or Renting One

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