Essay Renting Verses Buying a House

1277 Words Jul 29th, 2012 6 Pages
Toshiba | Is Renting A House Better Than Buying One? | COM/172 | Karima M. Kibble | Maribeth Walker | 8/18/2011 |

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I. Introduction A. Thesis statement: While deciding to rent or buy housing can be a difficult decision this paper will discuss the pros and cons of each and the writers belief based on research, personal experience, and individual assessment, I believe that buying a house is a much better option. II. Monetary advantage A. Tax benefits B. Fixed terms
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According to Piper Nichole and Adams Media, (2009, 2003, 1998) “You can deduct the cost of interest that you pay on a mortgage from your income taxes each year. And because especially since early on in a mortgage, the majority of the monthly payment is going toward interest, that means a substantial portion of your monthly housing payment can be deducted, reducing the amount of tax you owe by quite a bit” (p. 5).
Under the current finance and economic environment, owning a home may be one of the best long-term investment opportunities available today. If more people viewed homeownership as a means to save money, they would see these benefits as a life long investment. Many people are turned of at the thought of homeownership because they do not understand the process. Sadly, they may have been conditioned in ways to make them feel inferior to taking steps to better themselves. For those of us who are educated in this area, took time as a whole to explain and offer help to qualifying candidates, we would have a much higher success rate in leading people to homeownership.
I have been a home owner and a renter. As a renter, I enjoyed the short rental terms, low maintenance, and lower move in costs. Also the rental terms usually range from 6 months to 24 months which allows for more flexibility than home ownership. In the same token, while renting provides flexibility, you

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