renting an apartment better option than buying a h
posted by lisa on .
Do you suppose you could possibly be more explicit about how you'd like us to help you?
What ideas do you have about your subject?
When you rent something, you gain no equity, unless there is a "buy clause" where some of the rent goes to purchase the house. The advantage of owning a home, condo, etc. is that you build up equity and therefore have some sort of tax break.
P.S. Look at the Related Questions and you can find former answers to basically the same question you just posed.
There is no easy answer. It depends very much on your particular situation.
Over the long term, in general it pays to own the house. You get a tax deduction on mortgage interest (useful only if your income is high enough to make this significant) and if you rent out part of it, depreciation can help as well.
However in the short term, if you might be moving in a few years, it might be a bad move. Especially if you borrow a large part of the price of the house, if house prices go down (further) you can end up owing the bank more money than you can sell the house for. If you pay cash for the house this argument loses potency because even if the prices go down, you have to live somewhere and the price of the next house might be lower as well.
What would be a good thesis statement for renting an apartment is a better option than buying a house
Agood thesis statement for renting an apartment is a better option than buying a house