DE VERA, Louisa Katherine B.

FIMA 400 13
BSBA FM 2-1 Ma’am Realin Aranza
ASSIGNMENT NO. 4
Which is advantageous for you, renting or buying?
Better living standards, a better education, owning a house, owning a better car, you can add
anything to this list but having your own house is the most important. Everyone, male or female, young or
old, rich or poor, from whatever culture or country, has a dream about it; in other words, everyone wants to
own a place where they can live and store personal belongings.
Renting can be a good option for people who do not want to be tied down by legal or financial
obligations. In most cases, a landlord will create a contract to define the rules, and the renter will be required
to present a person to guarantee the losses if the tenant does not honor the commitment or make an advance
deposit. To buy a house, on the other hand, you must learn how to save and make good financial plans in
order to avoid mortgage problems. Renting a home has some advantages such as lower financial obligations,
lower maintenance costs, greater liquidity and mobility, the monthly rent is set within the budget, and so on.
Renting has some drawbacks, such as prohibitions on bringing a pet dog, the inability to change the decor,
the renter's estate does not evolve, unforeseeable expenses, the landlord of the house dictates the rules,
and so on. There are numerous benefits to owning a home, including heritage growth, freedom to enter and
leave, freedom to make choices, freedom to renovate and decorate according to choices, self-esteem for
being the owner, mortgage interest is tax deductible, expenses are predictable, security, and others. Of
course, there will be drawbacks to owning a home, such as financial obligations, annual expenses, higher
installments than rent, and maintenance costs.
By evaluating and considering these factors, for me, buying a house is advantageous than
renting. The first step in buying a house is to assess your financial situation, such as how much debt you
have versus how much equity you have. The process in buying a house will never be easy because there
are lot of factors you need to consider but challenges are always there so it is important for an individual to
be financially and mentally ready. I am the type of person who always want assurances and privacy therefore
buying and owning a house is what I want and I know that it will be more advantageous for me especially it
can give me long-term benefits. Another thing is that, moving is distressing and emotionally draining,
especially when we are forced to relocate unexpectedly. When we own a house, we can rest easy knowing
that we control our own destiny, which is invaluable.
Still, it depends on the situation of an individual. There are times when renting is a better option than
buying a house. For example, if you're relocating to a new area quickly, it might be a good idea to find a rental
property and get to know the new area before committing to buying a house in a place you're not yet familiar
with. Renting may also be a better option if you know you won't be in one place for long. However, in most
cases, buying a house is a better financial decision.
For many people, including me, owning a home is worthwhile because it provides a sense of
security and stability that renting does not.