Buying a House Thesis

Buying a house is a better long-term investment into the future than renting an apartment. Being mortgage free eventually and having no obligations to pay for the roof over your head. “Anyone trapped in a long lease would be wise to consider purchasing property (Cabinet Maker, 1998)”.   When buying a home it comes with the property that surrounds it, and is often more property than you would receive, if any, while renting an apartment. After some time of owning a home the property value could increase over time, and in turn increase the value of your home. Also, improving a home and fixing things around the house could also make the property value increase.   “Even with a home, a person does not have to pay the capital gains tax when the value of the house goes up (Carla Bouchard, 2007)”. With having a house it shows a sense of stability and security of knowing that if all is done correctly then this is your home. Having pride in buying a home and also accomplishing a great long-term investment goal, can be a great motivating factor for most people.  Having stability can help to make it is easier to apply for loans, as you will have equity to use as collateral. The bank or loan institute finds stability and will know that the person getting the loan will pay the loan back. Seeing also that having collateral is a great way to insure the loan as you would not want to lose your home due to not paying back a loan. The bank will make sure the other payments are on time since the owner has bought the house.

When deciding to buy a house or an apartment there are many decisions to be made. These decisions will not be so hard to make after comparing buying a house over renting an apartment. Owning a house is an investment for the future and will eventually be paid off, leaving only property tax and utilities for the home owner to pay. When renting an apartment you end up paying high costly rent every month, and never being able to own your own home, kind of like...