You will prepare and submit a term paper on Renting an Apartment is a Better Option than Buying a House. Your paper should be a minimum of 1000 words in length. Moreover, no one gives the buyer any restrictions (Mortgagecalculator.org, 2011, para1&4).
Thesis Statement. It is evident that purchasing a house is more beneficial than renting an apartment because the owner has more creative freedom, and houses are more economical in the long run. Buying a house comes with many advantages. To start with, the buyer has tax advantages over the rental apartments. This is so because the interests and taxes can be itemized for deductions of tax. The cost off renting a house can be substantial than the cost of buying one. Again, when the buyer has completed mortgage payment, they can achieve a better credit rating (Mortgagecalculator.org, 2011, para4). When buying or renting a house, one should consider two key principal aspects: practical matter and heart matters. Matters of the heart vary from one person to another. One will like a house in urban areas while another will like a house in the rural areas, these are heart matters and can influence the decision to rent or buy. However, the objective is answering the question as to why people should buy houses.
According to Lotich (2009), when one buys a house, it acts as an automatic savings plan. This can be demonstrated by the example of when a twenty-five old person gets a thirty-year mortgage. hopefully, they will have completed the payment at the age of 55. This means that if one had not saved much for the future, their least concern will be the house payment. The benefit that comes with this plan is that over the 30-years the value of the home is likely to appreciate. He further indicates that a home is an investment that one can live on. Even when the home value drops, the house will still offer the advantage of being able to reside in it, different from when one invests in stock markets – such benefits will by no means be provided. The house belongs to the buyer and the most exciting thing is that there is the ability to customize the house, like painting the walls and installing a new faucet (para7-12).
Owning a house alleviates the problems of renting the house from one place to another, again and again, year after the other.
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