Renting vs. Owning

Satisfactory Essays
Week 3 Outline Assignment

Topic: Renting an apartment is a better option than buying a house

Introduction – Like so many others, I always believed that buying your own home was a part of the American Dream, and showed a sign of maturity and accomplishment. The first chance I could, I decided to make that big step and went out and bought me my first home. Monthly mortgage, homeowner insurance, association fees, lawn and home maintenance, and property taxes to name a few, proved to be more than I could handle on a long-term basis. When I started to become a financial burden, I ended up putting my house up for sale, and moved to a rental I was able to afford.

Thesis statement: Everyone at some point and time want a piece of the American Dream, but during these financial times it is cheaper and less stressful to rent an apartment.

Monthly expense are cheaper in an apartment

A. Monthly rent and additional charges are normally less expensive.

1 Cheaper rent opposed to monthly mortgage.

2 It takes less electricity to use in an apartment than a home.

B. Other fees

1. Renters do not have to pay homeowner association fees.

2. No property taxes to pay at the end of the year.

3. Appliances are usually included in apartment

Less responsibility

1 Damages in a apartment are paid by management

2 Renters do not have to worry about mowing the lawn.

3. Not responsible for any home maintenance, such as painting or carpet replacement.

Mobility advantages

1 Need to move due to job change, it’s easier to get out renting an apartment than a mortgage.

2. When faced with financial problems, a renter is able to relocate to a cheaper apartment.

Conclusion

There are a few benefits to owning a house such as tax breaks, but the financial burden is much heavier than living in an apartment. From the mortgage to homeowner association

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