Buying Is Better

In: English and Literature

Submitted By jakeintheboxxx
Words 1017
Pages 5
Owning a home offers many benefits not available as a renter such as pride with ownership, qualifying for special tax breaks, and saving money. Renovating property is one example of expressing the freedom available to a homeowner that renters do not have. Many tax breaks are only available to homeowners for many reasons including deductions for mortgage interest, First-Time Home Buyers’ Tax Credit and deducting expenses by having a home-based business. The amount of money saved considerably outweighs the money spent on renting a house or apartment. Not only does one save money , but the money is equally invested. Money saved by owning a home grows in many ways. Additional benefits not relating to money, such as a feeling of worth or inclusion in community decisions are positive reasons for owning a home. Spending money on rent when one can afford to buy is not the best financial decision. Though renting property relinquishes the renter of most responsibilities the benefits are few. When a person saves money to buy a house, that person takes pride in the amount of hard work accomplished to attain the goal of purchasing the house. Owning property “instantly” makes the owner a part of the neighborhood and community, along with its social advantages” (Hudson Valley Business Journal, 2/25/2008 Supplement, Vol. 19, p4-4, p. 1). One may choose to make valuable decisions when becoming part of a new neighborhood that help mold the area into a safer community. Such decisions effect the development of the neighborhood and potential businesses and events. Community associations organize neighborhood watch, family dances, sleigh rides or family dinners helping to unite the community, make it safer, and more enjoyable for families. Making decisions that advance the community toward a safer, friendlier environment is an advantage to owning property. The social advantages of…...

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