Advantages and Disadvantages to Homeownership
This paper will look at reasons why people should look into becoming a homeowner.Of, course there are lots of advantages to homeownership, but when there is good, bad always seems to follow not far behind. The main dreams in most people’s lives are to A.Become an adult. B. Get married. C. Have children, and. D. Own a home. This paper will examine several reasons why one should become a homeowner, but it will alson show some of the pitfalls to the American dream. Becoming a homeowner has in the past been the thing that shows the most responsibility in peoples lives. There is a certain pride that comes along with it. We all know the woe’s of it: The huge monthly mortages, repair bills, lawn care.and so fourth. These items just listed can also be joys as well. These reasons are are we will look at the advantages and disadvantages of homeownership.
Rent payments can be unpredictable and typically rise each year, but most mortgage payments remain unchanged for the entire loan period. If the taxes go up, the increase is usually gradual. This stable housing cost especially important in times of inflation, when renters lose money and owners make money. When I used to rent the thing that upset me about renting was the fact, I was paying out all this money and the end result was always the same…I was making money to the landlord to pocket or benefit from. Equity
Instead of payments disappearing into someone else's pocket, homeowners are building equity in their own home. The money you pay each year toward the principal of home mortgage will be back when the property is sold. It is like having a scheduled savings account that grows faster the longer you have it. If the property appreciates, and generally it does, it is like money in your pocket. And you are the one who gets to take advantage of that, not the landlord. You can then use this equity to plan for future goals like your child's education or your retirement. When...
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