In today’s society, having a place to live in is very important. That raise the question of how one should live their lives, should one rent or should one buy a house? This decision is hard to make due to the reason that each of the choices have their own advantages and disadvantages. According to the National Association of Realtors, there will be “five to six million families that will become new renting households in the next ten years.” (Harper 2013) We might ask ourselves, why is there a growth of people wishing to rent an apartment instead of buying a home? Before the American Dream involves buying a home, buy why is there many American changing their mind? People choose to rent because of the many advantages it offers. The top reason
…show more content…
When you pay your rent payment on the time it would slowly improve the credit. Having a good credit score can later be use to qualify for a mortgage in the future if you were to decide to settle into a place and buy a home. Other reason why people choose to rent is because of the affordability. 57% of renters “ranked affordability at the top priority list.” (Smith, n.d.) Renting an apartment leaves more available money for the renters to buy other items such as food and heat.
Many people also worry about the maintenance expenses. If one were to own a home they would have been responsible to fix all of the property damages such as a pipe leak, but instead if you rented a home, all you have do is call the landlord and you would be able to ask the landlord to fix the property. From doing so, many people feel relieved when they can just pass the job that needs to be done because they feel that maintenance is a pain. (Smith, n.d.) When thinking of renting or buying a home, renting a home seem to be a better idea. We can see why there are many people choosing to rent instead of paying a mortgage. Today, people often think of the flexibility, the expenses, and the future to be the top reason to choose to rent. We can see the many advantage of renting a home, so in the future people should choose to rent rather than
When you pay your rent payment on the time it would slowly improve the credit. Having a good credit score can later be use to qualify for a mortgage in the future if you were to decide to settle into a place and buy a home. Other reason why people choose to rent is because of the affordability. 57% of renters “ranked affordability at the top priority list.” (Smith, n.d.) Renting an apartment leaves more available money for the renters to buy other items such as food and heat.
Many people also worry about the maintenance expenses. If one were to own a home they would have been responsible to fix all of the property damages such as a pipe leak, but instead if you rented a home, all you have do is call the landlord and you would be able to ask the landlord to fix the property. From doing so, many people feel relieved when they can just pass the job that needs to be done because they feel that maintenance is a pain. (Smith, n.d.) When thinking of renting or buying a home, renting a home seem to be a better idea. We can see why there are many people choosing to rent instead of paying a mortgage. Today, people often think of the flexibility, the expenses, and the future to be the top reason to choose to rent. We can see the many advantage of renting a home, so in the future people should choose to rent rather than