Com 156 Week 3

Topics: Property, Real estate, Renting Pages: 2 (605 words) Published: June 30, 2011
Week Three Assignment
Axia College of University of Phoenix

My essay is about why it is a better option to rent an apartment rather than own a home.

A major decision that all adults will face is deciding if it better for them to rent or own their residence. I am going to show it is far more cost effective to live in a rental property rather than owning a property. The average cost of living in a rental property is far less than living in property that is owned. The comparison in the cost of rent versus the cost of a mortgage combined with the extra expenses of owning a home will show the basic savings a person will incur when renting his or her residence. There are other benefits that renters have over owners, the amenities that cost extra as a home owner. With these facts exposed, there is a clear understanding of why it is a better option to rent than own.

I. Cost of renting is less than paying a mortgage.
A. List average cost of renting.
B. List average cost of mortgage.

II. Extra costs associated with renting are lower than owning a home. A. Give examples of taxes and insurance rates associated with renting. B. Give examples of upkeep fees, taxes and insurance rates associated with owning a home. IE; lawn, painting and every day mishaps.

III. Renting often includes extras that are not included with owning a home. A. List amenities included with many apartments. IE; pools, workout centers and security. B. List costs of amenities not included with home ownership.

In conclusion, it has been shown that renters will pay less for their living arrangement. Renters also do not have some of the worries that a homeowner does. A renter is not responsible for upkeep and maintenance on the place in which they reside. Renters also several amenities included at no extra cost that homeowners would have to purchase separately. The savings of becoming a renter keep adding up and it almost seems a waste of money to become a...
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