Com 156 Persuasive Essay
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- Date Submitted: 07/14/2012 01:33 PM
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Owning a Home Is Better Than Renting
COM 156
Owning a Home Is Better Than Renting
Have you ever wished that the people living in the apartment directly above you would refrain from herding elephants through their entire apartment at 3:00 a.m.? Have you had the overwhelming desire to rip down that gaudy 1970s purple, yellow, and red paisley wallpaper from the bathroom walls, before you have had your morning coffee? Then perhaps it is time to consider an alternative option that relinquishes a virtual stranger of the decision making power, in an effort to avoid the great elephant migrations across the savanna in the apartment upstairs.
Making monthly mortgage payments allows the owner many luxuries, which are often unavailable to a renter. When faced with the decision whether to rent or to buy their next home, many people struggle to consider all of the pros and cons of each to make the best decision possible. One argument against homeownership is that renting allows lower monthly payments. Although this may be true for the first few years, with a normal annual increase of only 5%, a renter will actually pay more than the average homeowner will, after only five years. (GinnieMae, n.d.). While initial rental costs average nearly the same as monthly mortgage payments, renting someone else's house does not allow the renter the same luxuries realized by the mortgage paying, homeowner. The benefits of maintaining a stable home in today’s economy, having the ability to make changes in and around the home, increased tax deductions, and building home equity, make owning a home a better option than renting.
While renting may allow a person the freedom to move on short notice, having the stability that comes with owning provides many people with peace of mind, especially in today’s unsteady economy. Renters are often at the mercy of the property owners financial situation, and many renters find...
COM 156
Owning a Home Is Better Than Renting
Have you ever wished that the people living in the apartment directly above you would refrain from herding elephants through their entire apartment at 3:00 a.m.? Have you had the overwhelming desire to rip down that gaudy 1970s purple, yellow, and red paisley wallpaper from the bathroom walls, before you have had your morning coffee? Then perhaps it is time to consider an alternative option that relinquishes a virtual stranger of the decision making power, in an effort to avoid the great elephant migrations across the savanna in the apartment upstairs.
Making monthly mortgage payments allows the owner many luxuries, which are often unavailable to a renter. When faced with the decision whether to rent or to buy their next home, many people struggle to consider all of the pros and cons of each to make the best decision possible. One argument against homeownership is that renting allows lower monthly payments. Although this may be true for the first few years, with a normal annual increase of only 5%, a renter will actually pay more than the average homeowner will, after only five years. (GinnieMae, n.d.). While initial rental costs average nearly the same as monthly mortgage payments, renting someone else's house does not allow the renter the same luxuries realized by the mortgage paying, homeowner. The benefits of maintaining a stable home in today’s economy, having the ability to make changes in and around the home, increased tax deductions, and building home equity, make owning a home a better option than renting.
While renting may allow a person the freedom to move on short notice, having the stability that comes with owning provides many people with peace of mind, especially in today’s unsteady economy. Renters are often at the mercy of the property owners financial situation, and many renters find...