4 Reasons Why Renting Isn't Such a Bad Thing
Do you own a house or are just renting one? Are you looking to move in to another house and finding it hard to decide whether to buy or rent? Buying a house may not always be the better decision and renting may even be more worth it.
Why? Here are four reasons:
1. A house is not a good investment when compared to other assets. While it is true that home values appreciate over time, you also have to consider the actual costs of owning and maintaining a house. These costs include property taxes, mortgage interest, and maintenance costs such as repairs and regular maintenance. There are also buying costs, closing costs, title insurance, and property upgrades, just to name a few. Factoring these in, they will reduce the real rate of the return on investment, that you can even make more money in the stock market. Even if you decide to sell the house later, the money you will earn will just end up as another down payment for another house that you will invest on. The money doesn’t really come back to you, unless you sell the house and just rent for the next one. Another reason why a house is not a good investment is its illiquidity – you can’t really sell it right away.
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Owning a house ties you down. It is more difficult to get rid of a house that it is to get rid of a lease for an apartment. This can be a problem if a new and more lucrative job opportunity comes up and can end up costing you a lot of money. This means that it will be harder for you to move to locations more convenient to the better job opportunity that you found. And if you choose to stay, then chances are job opportunities are limited. Owning a house also wastes a lot of time that you could have spent more with your family or exploring new places. Renting is more hassle-free if you like change of sceneries once in a while. Renting also gives you a choice to leave anytime you want without having to think about a house that you will have to leave
Michelle Alexander’s book, The New Jim Crow, as well as Eugene Jarecki’s documentary, The House I Live In, both discuss the controversial issues surrounding the War on Drugs, mass incarceration, and drug laws. Ultimately, both Alexander and Jarecki concede that the court systems have systematically hindered growth and advancement in black communities by targeting young African Americans, primarily male, that have become entangled in drugs due to their socioeconomic status. There is a disturbing cycle seen in black underprivileged neighborhoods of poverty leading to drug use and distribution to make money that inevitably ends with the person in question landing in prison before likely repeating these actions upon their release. Both Jarecki and Alexander present their case, asserting that the effects of the War on Drugs acted as a catalyst for the asymmetric drug laws and
Because of the high prices of homes in the United States, people often focus on only the buying price when considering the costs of owning a house, and neglect many other aspects of home ownership. A house is not your regular item that you buy and store or use for a limited amount of time. Houses come in a package with upkeep costs and taxes, and it’s wise to take these into account when analyzing your finances.
When someone makes the decision to buy or rent a home they must consider the advantages and disadvantages of each. In buying a home the primary advantage is that you actually own it. You can do whatever you want with it. Also, you are building equity as the years go by. “People today have problems saving for their future” (CNN Money, 2014). However, when they buy a home, the money they put down for a down payment is an investment. When the person sells the home they get back the down payment and the amount the property has appreciated in value. When looking at the advantages of renting it is easy to see the disadvantages of buying for some people. Even though you don’t get the money back that you put into it, renting could be a more satisfying option for some. This is because renting allows for flexibility. The person can move wherever as soon as there lease is up. Renters may see buying as “a reduction in lifestyle, moving to a smaller place, and perhaps a less expensive neighborhood.” (CNN Money, 2014). For example someone who rents an apartment enjoys how the complex keeps up the area and all the amenities it has to offer, and it is in an upper class part of town. However, when they buy they looks all the benefits, they have to do maintenance themselves, and move to an area they don’t particularly like to fit their price range.
America is seen as the land of opportunity in that there are endless possibilities for an individual. In this land of opportunity, Americans strive to obtain the ideal known as the American dream. The American Dream is seen as the accomplishment of an ambition achieved while challenged by adversity.1 Americans often associate this success with the ownership of a home. The home is not simply a place of basic protection; there is a much deeper connection to the individual. Ownership of a home grants freedom and security that establishes a sense permanency for the individual. In contrast, renting a living space possesses a semblance of instability and dependence.2 The desire to improve ones’ position in life inspires one to obtain the American dream.
Having a house and having a home used to coincide. Families used to live in the same house for generations, but now the sentimental value of having a house has changed. As Quindlen puts it, “There was a time when where you lived often was where you worked and where you grew the food you ate and even where you were buried. When that era passed, where you lived at least was where your parents had lived and where you would live with your children when you became enfeebled” (Quindlen 215). However, over time even that changed. Now we have grown to live in a house and then move on like it was nothing. Sentimental value for a house has dwindled. Quindlen demonstrates that “suddenly, where you lived was where you lived for three years, until you could move on to something else and something else again” (Quindlen 215). However, for those without a house, they would give anything to have that sentimental feeling that used to come with having a house. But that’s just the problem; for most a house and a home no longer coincide. We can own a house but not have a home, or vice versa. After all, “Home is where the heart is. There’s no place like it” (Quindlen 214). People can have a home without having a house. A home simply means having a family,
“Home is where the heart is.” In The House on Mango Street, Sandra Cisneros develops this famous statement to depict what a “home” really represents. What is a home? Is it a house with four walls and a roof, the neighborhood of kids while growing up, or a unique Cleaver household where everything is perfect and no problems arise? According to Cisneros, we all have our own home with which we identify; however, we cannot always go back to the environment we once considered our dwelling place. The home, which is characterized by who we are, and determined by how we view ourselves, is what makes every individual unique. A home is a personality, a depiction of who we are inside and how we grow through our life experiences. In her personal, Cisneros depicts Esperanza Cordero’s coming-of-age through a series of vignettes about her family, neighborhood, and personalized dreams. Although the novel does not follow a traditional chronological pattern, a story emerges, nevertheless, of Esperanza’s search to discover the meaning of her life and her personal identity. The novel begins when the Cordero family moves into a new house, the first they have ever owned, on Mango Street in the Latino section of Chicago. Esperanza is disappointed by the “small and red” house “with tight steps in front and bricks crumbling in places” (5). It is not at all the dream-house her parents had always talked about, nor is it the house on a hill that Esperanza vows to one day own for herself. Despite its location in a rough neighborhood and difficult lifestyle, Mango Street is the place with which she identifies at this time in her life.
In Toronto for example, location is prime and one’s proximity to amenities drastically increases the price of buying compared to renting. This is what makes renting more attractive, as a condo unit downtown might be realistic to rent, but not to purchase for many professionals, or they have the ability to purchase but they choose to rent instead. One major factor that makes it attractive for people to choose renting over purchasing in Toronto include, no-cost repairs, as the landlord is responsible for all repairs, which can save a lot of money. Along with this, it is attractive to renters as it frees up funds to invest elsewhere, such as on vacations, education, and other
Buying and owning your home is part of the American dream. Although the dream itself has since changed, the home still remains the main focal point. Today owning a home doesn’t necessarily mean a house. People now buy duplexes, cooperative apartments, and condominiums. For some families it could take up to a couple of generations before it’s able to have the capabilities of buying a home. To many people it means a certain achievement that only comes after years of hard work. It is a life altering decision and one of the most important someone can make in their lifetime. The reasons behind the actual purchase could vary. Before anything is done, people must understand that it’s an extraneous process and it is a long term project.
Most people, today, are looking forward to buying their first property. When individuals decide to buy a house those individuals would have to look at all their options and all the advantages and disadvantages that come from purchasing a house. The economy plays a huge role in the decision whether people will purchase a house, purchase a condominiums, or rent property.
Young children learned through playing, observing and imaging. Playing house is a kind of role-playing game which includes the above three aspects, they observe what their parents do daily and imagine they were them and imitate what they do through playing. In addition, playing house develops children’s understanding of gender difference and enhances their interaction with friends and some other educational features which would later be discussed. Therefore, by analyzing the different form of playing house and its consumption, followed by the link between playhouse and gender, also the educational features, would show that playing house is not only entertaining but also influential to children.
As I was always told, it is better to live on your own then it is with a roommate. These are reasons why.one. When you are living, alone you have the responsibility to take care of everything and not have to worry about other people getting in your way. Living on your own offers a great deal of freedom to act how you want and live the way you want. If you want to lie on the couch for days on end, watching there is no one there to complain about your behavior. You can listen to your music as loud as you can want or any kind of music for that matter because you do not have anyone nagging about what you are doing.