Thesis Statement Renting vs Buying

Renting now can invite things become a bit easier later. Saving silver is what every American wants to do. Buying a home can not only scandalize mortal financially but it can put them in a bind that can have them paying a bill for the inhabit of their life. The economy is on a rollercoaster right now so devising the determination to profane a home can be a tad bit tricky. Buying a home is not a one time transaction because once you have the home you sustain to pay bills such as mortgage fees and cosmetics.Thinking about the bullion that you may have to come out of is a good adequacy reason on why you would want to save up money to take cargon of some of the fees that will occur when making the finish to buy a home. If you own your home, you can claim your spot taxes on your tax return. You can too make for a tax acknowledgment if you make certain renovations to your home to make it more(prenominal) energy in force(p) like energy efficient appliances and windows. Th is one is pretty minor, but assume you have a fixed rate mortgage, your payment should stay the same.This provides a nice protection against inflation. Renters on the other hand, will watch their monthly payments rise as inflation rises. One of the things my boyfriend and I are most wound up about is the ability to customize our house. Apartment financial support is full of rules and restrictions of what you can and cant do. I am excited to have the freedom to paint the walls, landscape, and install a new spigot if I would like. Renting can put some of these things in someone elses hands to where you can save the money that is extra from your monthly payment.Renters dont have to pay for anything that breaks down in their apt. Homeowners have to pay for repairs themselves. When letting an apartment you will never have to worry about secureness the toilet, sink, or plumbing because all of those things are paid by the landlord. Skipping these fees leaves more money in your piggy b ank expanding your options for your home when you come to that decision. reservation the decision to rent now and buy later can also give you enough time to wait on the economy to get stronger which can make buying a home a overmuch smoother process.Rent now and buy later is the best proficiency right now. If you are still on the fence about whether to buy or rent, use the rent ratio. The rent ratio is when you take the bargain for price of a house and divide it by the yearly terms of renting a home. According to the New York Times article, the number 20 provides a useful rule of thumb. When you do the math, you discover that a ratio above 20 means you should at least consider renting, oddly if you may move again in the next five geezerhood or so.When the ratio is well below 20, the case for buying becomes a lot stronger. Also, make sure to factor in other cost associated with owning a home such as homeowner association fees, property taxes, homeowners insurance, and maintena nce costs. Also, know your personal situation. If youve got debt up to your eyeballs or youve just departed through a big life change such as marriage, a newborn, divorce, or a death in the family, taking on the responsibility of owning a home might not be in your best interest. Which one do you think is the fracture financial decision? Do you think that there are cases when renting is a better decision than home ownership?