Buying a Home Is Better Than Renting

Buying a Home is a Better Option than Renting

Jessica Reynolds

COM156

03/20/2010

Jennifer DePino

Buying a Home is a Better Option than Renting

The decision of whether to buy a home or to rent is always up for discussion. There are many advantages and disadvantages on both sides of the matter and people have their own opinions regarding what they think is best. Ultimately the decision to buy or rent will come down to what works best for the current situation. It is a good idea to sit down and consider all of the options available, and the pros and cons for both buying and renting. Many advantages of buying a home include additional space inside and out, the freedom to update or remodel, knowing eventually payments will end, and most important the investment into the future. Ultimately buying a home is better than renting and can be the most rewarding purchase a person can make.

One benefit of buying a home versus renting is the ability to make modifications to the home. Imagine the urge arises to repaint the walls a different color or to replace the flooring because it is worn out or simply because you want to update the décor. As the owner of you can do as you wish to the property because it is yours and any updates made to the property increase the value of the home. Included is the ability to replace appliances, air conditioning units, or the furnace if you would simply like to upgrade or if it becomes necessary to do so. Some landlords will allow improvements or minor changes to the property with written permission, but they may also retain the right to keep items that may have been replaced such as flooring, light fixtures, and cabinet hardware. Most landlords require the tenant to sign a rental contract that will spell out all the rights and responsibilities of the landlord and the tenant. “Rental contract laws are typically governed by each state’s legislative body” (Choi, eHow contributor 2010) so may differ from state to state and landlords will...