Thesis Statement Renting vs Buying

Renting forthwith can make things become a bit easier later. preservation m championy is what every American wants to do. Buying a groundwork can not only hurt someone financially but it can drop them in a bind that can go for them paying a bill for the rest of their life. The economy is on a rollercoaster right now so making the decision to buy a home can be a tad bit tricky. Buying a home is not a one time transaction because once you have the home you continue to pay bills such as mortgage fees and cosmetics.Thinking about the money that you whitethorn have to come out of is a good enough reason on why you would want to save up money to take pity of some of the fees that pull up stakes occur when making the decision to buy a home. If you own your home, you can claim your property taxes on your tax return. You can besides get a tax credit if you make certain renovations to your home to make it more energy efficient like energy efficient appliances and windows. This one is pretty minor, but assuming you have a fixed rate mortgage, your payment should stay the same.This provides a nice protection against inflation. Renters on the other hand, will watch their monthly payments rise as inflation rises. One of the things my boyfriend and I are most excited about is the ability to customize our house. flatbed living is full of rules and restrictions of what you can and cant do. I am excited to have the freedom to paint the walls, landscape, and install a new faucet if I would like. Renting can put some of these things in someone elses hands to where you can save the money that is extra from your monthly payment.Renters dont have to pay for anything that breaks down in their apt. Homeowners have to pay for repairs themselves. When contract an apartment you will never have to worry about fixing the toilet, sink, or quantify because all of those things are paid by the landlord. Skipping these fees leaves more money in your piggy bank expanding your option s for your home when you come to that decision. Making the decision to rent now and buy later can also give you enough time to wait on the economy to get stronger which can make buying a home a much smoother process.Rent now and buy later is the best technique right now. If you are still on the smother about whether to buy or rent, use the rent ratio. The rent ratio is when you take the purchase price of a house and divide it by the annually cost of renting a home. According to the New York Times article, the number 20 provides a useful rule of thumb. When you do the math, you discover that a ratio above 20 means you should at least consider renting, especially if you may move again in the next five years or so.When the ratio is well below 20, the case for buying becomes a lot stronger. Also, make sure to factor in other costs associated with owning a home such as homeowner association fees, property taxes, homeowners insurance, and maintenance costs. Also, know your personal sit uation. If youve got debt up to your eyeballs or youve just gone through a whacking life change such as marriage, a newborn, divorce, or a death in the family, taking on the responsibility of owning a home superpower not be in your best interest. Which one do you think is the better financial decision? Do you think that there are cases when renting is a better decision than home ownership?