Essay on Renting Versus Buying A Home

1071 Words May 7th, 2016 null Page
As I walk into the room with my hot cup of coffee, I notice the full circle of chairs with bodies sitting and discussing with intensity the concept of renting versus buying a home. I listen for a while to see exactly what everyone is saying. Majority of the room claim that renting a home is better than actually owning a home for several reasons to include no property taxes, no maintenance problems, and no debt. Essentially they are arguing that it is extremely costly to own a home because when you buy a home you are taking on a massive amount of debt that usually takes anywhere from fifteen to thirty years to pay off. They are stating before you can even move into the house you are required to pay closing cost fees and a twenty percent down payment just to transfer the property over to the owner. Furthermore they are claiming that renters do not have to pay for maintenance issues because any and everything that goes wrong with the house is the responsibility of the homeowner. On top of that, someone stated that some homes belong to a home association which requires extra money to be paid out for the upkeep of the “common areas.” The home association fees are also to keep the appearance of the neighborhood uniformed and on the same level. Financially speaking, renting a home would be a great alternative to owning when money is concerned. As I mentioned earlier, they want people to understand that owning a home is very expensive. Though majority of the class seem to be in…

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