Golden_Retrievers

Composition and Communication II April 23, 2011 Renting an apartment is a better option than buying a house because, more money is saved on maintenance, when owning a home it could be more difficult to relocate if needed, and not gaining equity or losing it. More money is saved on maintenance when you rent. When renting, tenants are not responsible for cost of repairs/ maintenance. When there are repairs that need to be done such as, broken lights, plumbing problems, leaking faucets, it is up to the landlord to make the repairs. When you own your home it is the responsibility of the home owner and this can be very costly. For example, when I owned my home it was very difficult for me and my husband because he is not a handyman. When we needed to get repairs done in the house we had to hire someone to get them done. I spent six thousand dollars getting my kitchen remodeled in my house for damages done by the previous owner. If I did not own my house and I rented it, instead of six thousand dollars coming out of my pockets, it would come from the landlord. I’m sure that everyone would rather use six thousand dollars on something else, rather than spending it on repairing a kitchen. Tom and John Mills posted an article called Buying vs. Renting. In this article it was stated that, “Renting offers flexibility. You can up and move with much greater ease……” When owning a home it could be more difficult to relocate if needed. Selling a house is not easy and it’s a long process. Depending on whether your house was in foreclosure and you are going to do a short sale, where you walk away from the house not gaining or losing anything, or you actually want to get money from the house your selling will determine how long it will take. Doing a short sale would be more convenient for someone who has back payments and would not want to pay them, but the majority of the time people who regularly pay their bills but just want to move, usually takes them up to two years to sell depending on the house and where its located. Having to be stuck to a house you do not want for two years or more is brutal. If you want to be free from all that stress it’s best just to rent. When you rent you sign a lease for how long you will be staying there. Most of the time it will be a two-year lease and once it’s up you can leave and go on your merry way. You do not have to go through the stress of trying to sell it or be stuck with it. The heavy burden of relocating comes with owning your house. When renting you don’t need to worry about equity, on the other hand when owing there is a chance you may lose equity. You gain equity in your home when the market value is up, you can also lose equity value in your home when the market is down. When renting you don’t worry about equity at all because you don’t gain or lose equity. Equity does not concern a renter, which means one less money problem to worry about.