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    Renting a home provides more flexibility and fewer responsibilities than owning a home. When renting, residents only need to pay rent and utilities each month without the additional costs of property taxes, maintenance, and repairs. However, renters cannot customize their living space. Homeowners have more long-term costs but can paint, renovate, and permanently change their home as they wish. Ultimately, renting is likely less expensive than buying a house upfront and over time due to closing costs, taxes, fees and maintenance costs that homeowners must pay.

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    Renting a home provides more flexibility and fewer responsibilities than owning a home. When renting, residents only need to pay rent and utilities each month without the additional costs of property taxes, maintenance, and repairs. However, renters cannot customize their living space. Homeowners have more long-term costs but can paint, renovate, and permanently change their home as they wish. Ultimately, renting is likely less expensive than buying a house upfront and over time due to closing costs, taxes, fees and maintenance costs that homeowners must pay.

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    Renting a home provides more flexibility and fewer responsibilities than owning a home. When renting, residents only need to pay rent and utilities each month without the additional costs of property taxes, maintenance, and repairs. However, renters cannot customize their living space. Homeowners have more long-term costs but can paint, renovate, and permanently change their home as they wish. Ultimately, renting is likely less expensive than buying a house upfront and over time due to closing costs, taxes, fees and maintenance costs that homeowners must pay.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    57 views2 pages

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    Uploaded by

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    Renting a home provides more flexibility and fewer responsibilities than owning a home. When renting, residents only need to pay rent and utilities each month without the additional costs of property taxes, maintenance, and repairs. However, renters cannot customize their living space. Homeowners have more long-term costs but can paint, renovate, and permanently change their home as they wish. Ultimately, renting is likely less expensive than buying a house upfront and over time due to closing costs, taxes, fees and maintenance costs that homeowners must pay.

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    of 2

    1 Pelletier

    Darius Pelletier

    Professor Michele Tubbs

    English

    20 October 2020

    Renting vs. Buying


    With house prices being so expensive renting seems more enticing than ever. My

    purpose for looking into renting vs. buying a house is to inform people on the choice they make.

    This can be a very big decision in somebody’s life, so it’s important to compare and contrast the

    two.

    Cost

    Prices can vary depending on the location, size, and features you want, but buying a house

    tends to be the more expensive option. When buying a house you pick somewhere you like, a

    place you could see yourself living in for many years. This usually leads to a higher price tag

    along with paying closing cost. Homeowners also have to pay a slew of monthly fees for their

    property. This includes property tax, utilities, HOA fees, and possibly even a mortgage. When

    renting a property you only have to pay rent each month and maybe utilities. However, some

    people might see this as a downside because after all that money you paid and your lease is up

    you walk away with nothing.

    Responsibilities
    2 Pelletier

    Homeowners have more responsibilities than a renter. Renters only have to pay rent, keep the

    rental property clean and in a good condition, and follow any other rules in the lease

    agreement. In some cases renters also have to pay for their utilities. Homeowners have to

    spend money paying for utilities, property tax, and possibly pest control. They also have to

    worry about setting up trash pickup, landscaping duties like mowing the lawn and trimming

    foliage, taking very great care of their house to avoid needing repairs, and making sure they

    maintain the water heater and other machines in their house.

    Flexibility

    Owning a house and living in a rental both have their own perks when it comes to

    flexibility. When you have purchased a house you are tied to that place unless you go through

    the whole process of selling it. However, when you are renting a property you are able to leave

    when your lease is up, or in some cases you can leave whenever you want to stop paying.

    Another difference in flexibility is what you can do with your house. If you own a house you can

    paint, design, and change things whenever you want. If you live in a rental you are very limited

    on what you can do. You can’t change your appliances, paint, or improve your apartment in any

    way. Most times you can’t even hang anything on the walls.

    I believe the best choice to make in the topic of renting vs. buying is to rent a house or

    apartment. Buying a house will end up costing you more money than renting.

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