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Why spend money that is really needed for other things? Why live uncomfortably? Why be trapped in this hole called a home that belongs to another person? Why not live free and peacefully? When a person rents he or she usually throws away money that could be used to purchase something that belongs to them. Money is not easy to come by so why pay out hundreds toward something that is not benefit to the person paying it out. There is no good explanation for making a decision like this. The best option in a situation like this is to buy a house. Buying a house is a better option than renting an apartment.
Buying a house has some very good ownership benefits. As a buyer and not an actual renter the investment process is better. Buying has great investment benefits. A person’s house is their personal investment. The benefit of the money that is spent monthly to the buyer is that each monthly payment builds equity (Bluejay, 2010). If the home that a person is buying is sold before it is paid off is that the equity that is built goes to the actual homeowner (Bluejay, 2010). One of the biggest benefits of actually owning a home is the monthly payments are not wasted. The money that is spent monthly actually goes towards buying than into another homeowner’s pockets (Map, 2011). The buyer actually saves more money that can be spent on other things. Home owning is very beneficial financially. It can greatly decrease a person’s yearly federal and state income tax bills (Demand, 2010). There are numerous amounts of deductions that homeowners could file on their taxes like property taxes, moving costs, real estate transactions, and if a homeowner works from home he or she can deduct home office deductions (Demand, 2010). Buying a house has way more benefits than renting.
Buying a home provides more freedom than renting. When a person buys the house belongs to them. There is no landlord. The person does not have to worry
References: Bluejay. Michael, (1999-2000) “The Ultimate Rent vs. Buy Calculator.” http://michaelbluejay.com/house/rentvsbuy.html Media. Demand, (2010) “Home-Buying Tax Deductions. “ http://www.essortment.com/home-buying-tax-deductions-20032.html “Map. Financial, (2011)”The Financial Map, LTD.” http://financialmap.info/pros-and-cons-of-home-ownership.htm Ki-Cheon. Kim, (2009) “The Chosen Libo.” http://english.chosun.com/site/data/html_dir/2009/02/19/2009021961017.html RPReality, (2011) “The Benefits of Owning Versus Renting a Home.” http://www.rprealty.com/articles/benefits-of-owning-versus-renting-a-home.cfm