essay on owning a house or renting one

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Essay on owning a house or renting one business resume cover letter template

Essay on owning a house or renting one

However, most people don't realise that renting a house can cost as much as buying a new one. Moreover if there is a damage such as a cracked wall or flood they will be responsible for fixing the problem. If you add the loan and all kinds of expenses for one year you will get the total amount of money you spent on living in a rented house and you can see whether it is worth it or not.

Personally I think it is better to buy your own house, but after you are confident that you have the required money for all taxes. I am sure many people experienced moving to another city or a country and they were forced to live in a rented house, because of lack of money or low paid job. My final advice is that if you have friends or relatives I strongly recommend to live with them if it is possible and after you save enough money for buying a house you can pay favor back.

All of this leads me to the conclusion that it is not necessary to rent a house, but if you don't have any other options then it would be better to rent a small and cheap house in order to have the opportunity to save money to buy a house. Download paper. Essay, Pages 2 words. Turn in your highest-quality paper Get a qualified writer to help you with.

Get quality help now. Verified writer. Proficient in: Finance. Deadline: 10 days left. Number of pages. Email Invalid email. Cite this page Buying vs Renting House. Related Essays. Stay Safe, Stay Original. Not Finding What You Need?

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Is this a positive or negative development? People in some nations consider owning a home much more important than renting one. Living in a self-owned home gives a feeling of stability, comfort and security. In my opinion whether it is a positive or negative situation depends on many factors. People owning a home do not have to worry about the landlord nor do they have to pay a monthly rent. Hence, they can modify their home according to their needs and wants and feel secure in it.

For many, the home is like a heaven and so they spend quite a fortune on designing and decorating it. Some people, on the other hand, consider their home as an investment which they expect to appreciate in value in the future. All in all, I feel that whether owning a home is a positive or negative situation is quite subjective, depending on the circumstances of the person. For people who have the money to buy a big house and few financial liabilities, their house is an asset and owning a house is a positive situation for them.

However, most of the middle class families buy a big house which is often out of their budget. They fund this by taking out huge loans and end up repaying the amount over a very long time. This increases the interest they have to pay. In addition to this, they have to pay property taxes and insurance which are directly proportional to the area of a home. Furthermore, the electricity and maintenance costs get added to their everyday expenses. To conclude, I feel that owning a home can be a pleasurable experience if done within a budget.

However, it could turn into a negative situation when a person buys a home by getting a loan that is way beyond his repaying capacity. Tags: band 8 essay Band 8 essay sample band 8 essays. People generally consider buying a home as a safeguard instead of living as a tenant, particularly in developing countries. Such a trend is among the public due to the insecurity they feel in renting and the hassle they face frequently moving from one place to another.

I definitely believe that it cannot be a positive situation. Firstly, living in any nation without a home is a feeling of insecurity as everyone wants to have some kind of home even though it is small. In other words, after having a home, people desire other facilities, for instance, vehicles and furniture. It is usually a heavy and one-off investment decision that everyone longs to.

Another important factor that people consider is the hassle in frequently changing places, just like a cat does after reproducing its babies. It can be because of misunderstanding with landlords or just change in any circumstances. Maybe it is not common in the USA or Britain as in Nepal and Bangladesh because of clear contracts that the two parties have in developed countries but such agreement does not take place in developing nations.

Moreover, both tenants and owners here usually live in the same place, unlike in western countries. The problem is more intense with regular misunderstandings in terms of pricing, the supply of water and electricity, and other issues. In such cases, it is always the tenant who is in the weaker position and who has to leave the place for some new ones.

In my opinion, such a scenario can only bring negative consequences to society showing a lack of competition and security. As more and more people strive to buy houses, the price may soar dramatically with a deteriorating effect on other factors of the economy. More importantly, the fund that had to be invested in building the basic infrastructures are curtailed and concentrated in the real estate of the country.

As a result, the value of money will decline significantly creating problems of unemployment. To sum up, the problem is thriving among underdeveloped countries because of fear of being homeless and this trend hampers the society with little resources for developmental projects. People have the whim of purchasing objects rather than renting them, this is found universally and not limited to any particular race, caste or creed.

I will discuss why this might be the case along with the positive side of the situation. Owning an asset has altogether a different experience, people get a sense of ownership which is quite significant to the large number of individuals. Now that you know the hidden fees of buying a house, is it in your best interest to buy or rent? The reason I decided on this sequence is because I felt like it was the proper order in explaining the differences between buying or renting a house.

We were taught to minimize how broad our topic was. Explaining the cost effectiveness is first because I feel like you would want to focus on the whole package of money when it comes to a house. There is no point into look at the equity or maintenance if you cannot afford a house at all, or you need to see if you can afford a house. Equity went next to show the gains from buying a house. Lastly, I wrote about maintenance problems. I felt like this was not as important as the other topics, but important enough for people to take into consideration.

After reading my outline I felt like I did a good job tying all my points together and that the order fit perfectly for the topic I chose to write about. Buying vs Renting House. Accessed July 23, Download paper. Essay, Pages 2 words. Turn in your highest-quality paper Get a qualified writer to help you with.

Get quality help now. Verified writer. Proficient in: Finance. Deadline: 10 days left. Number of pages. Email Invalid email. Cite this page Buying vs Renting House. Related Essays. Stay Safe, Stay Original. Not Finding What You Need?

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