Which of the following best explains why buying a house is more beneficial than renting? a. buying is a personal investment while renting involves giving money to the landlord. b. the monthly payments on a mortgage are generally lower than rent on an apartment. c. it's easier to sell a house than it is to get a landlord to break a rental agreement. d. housing prices can go up and down quickly in comparison to the level of rents.
buying a House
Explanation:Owning allows a tax write off. Owning allows pride and the ability to make changes to make the house personal.
When you buy a house, you just need to pay one lump sum. There will be no additional charges unlike renting a house which may eventually be more expensive than buying a house alltogether. Also, when you buy a house, you can redecorate freely rather thn waiting for the Landlord giving you permission
Advantages of renting a home:
- Possible free utilities
- Possible free water and electricity
Cheaper then buying a house
Disadvantages of renting a home:
- Possible unneeded costs and maintence,
- Damaged house
- Bills that should not be paid when owning a home.
Advantages of buying a home:
- Your own space to relax
- Supporting a family
- Having a secure base to call home
Disadvantages of buying a home:
- Depending on how much money you have, you can rack anything from $10k to $400k dollars in debt
- Costs of maintenance of a house
- Bills and Repairs
- Cleaning your house
Anyway you look at it, renting a home or buying a home has it's pro's and con's
The best way to determine which is better is to do your reasearch, go with trusted landowners if you are renting, buy a home within your own financial limitations.