Renting A Home Or Rent A Space Essay

1077 Words Oct 25th, 2016 5 Pages
Throughout todays day and age many factors come into play when growing up. One factor that I see to be controversial is whether to own a home or rent a space. When taking these two aspects into consideration we come across financial hardships such as proper investment of money, overall loss of money, and what we must show in the outcome. When looking at all the elements I firmly believe that home owning is overall beneficial for individual. The reason for my claim is home owning provides steady payments that won’t go up, you can build equity, it’s cheaper than renting, and it forces you to save. Homeowning can be detrimental because you spend more money, you have to pay for the electric and utilities, and you have to put in your own furniture. Renting can be beneficial because there is less money involved, there is no maintenance or repair bills, no real estate taxes, and lower insurance costs. Homeowning is more beneficial than renting because there are steady payments. When owning a home, you have payments each month that stay the same unless you want them to go higher or lower. You don’t have to worry about your landlord changing your rent from month to month. Since you know how much you must pay a month for your home if you own it, it helps you to save money. You will be able to keep aside however much you owe a month and save the rest for more important items you might need. One of the greatest factors of home owning you build equity that way. Instead of your money…

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