Advantages Of Renting Versus Owning A Home Essay

823 Words Dec 16th, 2016 4 Pages
a. Describe in detail the advantages and disadvantages of renting versus owning a home. One of the greatest choices that anybody can make in their life is to buy a home. Some home purchasers may think about whether their decision purchases a house is a correct choice for them since the average individual alters their opinion in regards to their choice each five to seven years. While contemplating this data, many people do think about whether obtaining a house is the best option for them. (Mortgagecalculator, 2016) There are many focal points to acquiring a home. However, there are weaknesses, which implies renting might be the better alternative for them. An ideal approach to knowing whether purchasing or leasing is the better circumstance; the individual must take a gander at their situation so as to settle on the correct choice.
Advantages of renting

Preferences of renting that the customer needs to consider:
• The underlying venture to lease a home or flat is very low. Purchasers frequently need anyplace between 5 to 10 times to move into a home than to rent a condo.
• Leasing costs less capital. The assets that would ordinarily be utilized toward an initial installment or higher home loan installments can be put into investment accounts that give higher returns. This is particularly valid in circumstances where the property is lived in by the leaseholder for under four years.
• The tenant has constrained obligation since they don 't need to deal with repairs.…

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