Buying Home Research Paper

Some people might think that renting and owning are pretty similar, but they do have a lot of differences that people tend not to think about. In fact most people don’t do a lot of research on the differences and similarities. Renting a place to live is a wiser choice and is cheaper in the long run, but having a place that you own has a lot of advantages to. Some differences that people don’t think about are maintenance, utilities, and restrictions.

First, renting is more flexible than buying making it ideal for people who move around constantly. When you rent, you can pack-up and in a jiffy but when you decide to buy a house, you need to find a tenant or sell the house before you can move making it less flexible. In addition, renting a house takes away the headache of property maintenance which is the responsibility of the landlord. In case there is any issue with the central heating and air unit or plumbing for instance, then it is the responsibility of the homeowner to do maintenance (Horton & Zeckhauser, 2016). Furthermore, renting a house allows you to move-in faster and at lower move-in cost when compared to buying a home. However, given the choice, buying a house has more benefits than renting.

Debt is definitely a downer, but it doesn't have to ruin your dreams of owning a home. It's true that carrying a high debt load can make finding a mortgage more difficult, but it's not impossible. The trick is knowing what lenders look for. A big part of that is your debt-to-income (DTI) ratio. When you understand this ratio, you can learn how to tweak it in ways that make lenders happy. Of course, it's also important to pay the debt you do have on time. If you can, you'll also help yourself by reducing the amount you need to borrow.

In the early years of a mortgage, the majority of the monthly mortgage payment goes to paying the interest. Over time an increasing amount goes to reducing the principal. As the principal is reduced, the equity will increase on the owners home. Owners Gain tax advantages by deducting mortgage interest and property taxes from their federal income tax form. They should Stabilize their payments with a fixed interest rate on their home loan. They should Have a secure place for their family to live. A home provides a permanent place where a family can live and grow, and the owners can decorate or expand a house the way they would like to create their dream home. There is always a negative compared to a positive. A home could lose value. There is no guarantee that a home will increase in value. It could decrease in value especially in a rocky housing market. Another benefit renters have over homeowners is that they do not have to pay property taxes. This can be a

As you see there are definitely pros and cons when deciding if renting or buying is right for you. When you rent, you don’t have the responsibility of maintaining the home, you aren’t worried about improving the interior or exterior of the dwelling, you don’t have to pay taxes on the home, and you aren’t faced with the possibility of losing the capital put into the housing market, or the possibility of foreclosure if a mortgage payment is missed (Should you rent or own). But on the flip side, when owning a home the equity in the home can be converted into money if refinanced or sold. Over the years, if kept well, real estate property increases in value and therefore this asset will up in value the longer the property is held (Should you rent or own).

One must first look at the pros and cons of each situation. Renting is a smart option for people looking to station in an area for a brief amount of time, whereas buying a house is a more permanent option for families who are looking to settle down. Another factor looked at by consumers is price; buying a house may not be the most ideal decision for someone living paycheck to paycheck. Renting and buying are both possible options for first-time homeowners; situations differ for everyone, and concluding which statement is better does not fit everyone’s personal

Mrs. Fisher leaves alone and has a lot of factors that can contribute to falls. These factors include: throw rugs, cluttered home, age greater than 75, changes in bowel and bladder ACE inhibitors, antihypertensive, diuretics and antidepressants, unsteady gait and complaint of fatigue can also contribute to falls. Intervention is to provide her with home health services to help her with his meals and also to clean her house, home health nurse is needed to teach her on how to detect factors that will lead to falls. Providing her with non-glaring light, non-skid and supportive shoes will help her from slipping. Home health nurse can also educate her on how to ambulate safely. The goal of home health Services is to help individuals

When someone makes the decision to buy or rent a home they must consider the advantages and disadvantages of each. In buying a home the primary advantage is that you actually own it. You can do whatever you want with it. Also, you are building equity as the years go by. “People today have problems saving for their future” (CNN Money, 2014). However, when they buy a home, the

Thesis: Home ownership provides greater potential gains than renting, while renting provides superior financial flexibility.

Receiving loans from lenders regularly lead to debt, and home loans for improvement only leads to paying off your home twice. Thus, elude high interest rates and loan payments and learn to plan your finances to improve your home.

Some individuals may believe that buying a home is part of the American dream and that renting an apartment does not compare, yet satisfied renters would disagree. Even though owning a home provides a sense of security while allowing modifications without permission, renting is preferred more often over buying because the expense of updating, monthly payments combined with utilities, and paying insurance on a home comes with a high price tag. A homeowner does have several luxuries such as forming lasting friendships with their neighbors, making landscaping changes to their yard, painting and designing their home. While that remains true, renting an apartment comes with several different options and

Many real estate agents will tell you the ideal time to purchase a home is during the spring. While the spring does have its own advantages, you may find that the fall works out better for you. Here are several reasons to start searching for a home in September.

Viewing where you would like to spend your time, away from the city, and work. When buying a home, you may even be taking money away from investments that can be made for the future retirement. There is principals and interest every month on the loan, as paying for the principal your money begins to grow (Waal, P.1998). Usually, the first year is interest, also, buying a home there is homeowner’s insurance, property taxes, and maintenance to keep up. As in leasing a home, consider throwing your money into someone else’s lap. The cost of repairs, maintained or other issues that the landlord is responsible for. Overall, I personally bought and built my home, it was a headache, I tell people that I would not build again. I also have rented apartments or rented a home out at Fort Bragg, NC. Every situation is different, it really depends on how you want to accomplish for your future. With a home, it is yours and you may change things in it, but as renting either get permission, or just some attendants just do what they want with your home, but when the attendants move out they should paint it back to the original color. Either way, you go, it is hard to make that decision in

Maybe to them it will be simply easier than to pay off what might be required to pay for the house. Or maybe the dreaded mortgage of which we've all heard of will come to wreak havoc on our day. Maybe they do not want to deal with the little things that come with a house. Like a lawn or a yard that must be continuously maintained. Or the everyday simple problems that can arise in the household that otherwise the landlord would fix. But no matter the pros and cons of the ownership of a

“Buying a house is a better option than renting an apartment.” In this essay I will discuss about the major benefits of buying a house rather than renting an apartments. While it can be costly it is a safer place to live that has long term-investment and tax advantage. Buying a house may be difficult and it can be a confusing process, even for veteran buyers. Here are some tasks that housing experts say before getting into the buying a house. Get financials in order. Buyers should check their credit score, taxes, 401(k) s and other aspects of their financial situation to determine the maximum amount they are comfortable affording for their monthly mortgage, utilities, maintenance, taxes and insurance. If one’s credit score is low, he or