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24 January, 13:07

Which of the following best explains why buying a house is more beneficial than renting?

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  1. 24 January, 15:02
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    Answer: buying a House

    Explanation:Owning allows a tax write off. Owning allows pride and the ability to make changes to make the house personal.

    When you buy a house, you just need to pay one lump sum. There will be no additional charges unlike renting a house which may eventually be more expensive than buying a house alltogether. Also, when you buy a house, you can redecorate freely rather thn waiting for the Landlord giving you permission

    Advantages of renting a home:

    - Possible free utilities

    - Possible free water and electricity

    Cheaper then buying a house

    Disadvantages of renting a home:

    - Possible unneeded costs and maintence,

    - Damaged house

    - Bills that should not be paid when owning a home.

    Advantages of buying a home:

    - Your own space to relax

    - Supporting a family

    - Having a secure base to call home

    Disadvantages of buying a home:

    - Depending on how much money you have, you can rack anything from $10k to $400k dollars in debt

    - Costs of maintenance of a house

    - Bills and Repairs

    - Self-maintenance

    - Cleaning your house

    Anyway you look at it, renting a home or buying a home has it's pro's and con's

    The best way to determine which is better is to do your reasearch, go with trusted landowners if you are renting, buy a home within your own financial limitations.
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