Renting an Apartment vs. Owning a Home Essay

The housing problem is always relevant if the living space is not inherited. It means that a person has to think over the purchase options versus renting. Saving money to buy a home, taking a mortgage loan or just renting an apartment is not an easy choice for many reasons. Thus, the main aim of the assignment is to observe the issues of renting an apartment versus owning home.

To begin, it is important to note that own house is similar to a fortress. It is always a very significant place for people. In the house people educate their children, invite friends and create own space for comfortable life and personal development, as well as home is also a place to fence off from an alien world and some hardships. Deciding where to live is a matter of style and quality of life. On the one hand, to buy a home is a good investment, and it is often the most expensive asset for many people. In such a way, as in any other commercial transaction, the issue of buying a home is also a matter of price, liquidity and circumstances (Ergungor and Zaman, 2011). On the other hand, people prefer to rent an apartment for the flexibility and absence of responsibility for the necessity to invest heavily in a purchase or repay a loan for a long time.

The main advantage of buying an apartment is stability and the ability to make independent decisions on improvement, regardless of the owner’s changing requirements. However, in a case of renting an apartment, a person gains a possibility to change the place of living by own desire, to change the city, or even the country without loosing some extra-money and time for solving the issue with existing own housing.

Thus, renting an apartment and owning a home are completely different positions. Renting is a good decision for young people who need some time for the purpose to understand their desires and plan their future. Owning a home is a suitable decision for people who are ready to be responsible for their housing, pay property taxes, and who see owning a home as an investment that will help them to live better in future.

Work Cited

Ergungor, O., and Zaman, S. “Buy a Home or Rent? A Better Way to Choose.” Economic Commentary (Cleveland), vol. 6, 2011.

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"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: August 11, 2020]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: August 11, 2020]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: August 11, 2020]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: August 11, 2020]