Buying a home is recommendable as the current markets indicate that it facilitates capital appreciation (Brown, 2006). This means that a person may buy a house at a cost price of $ 200 000 but after a certain period of time for example 10 years, the price of the house may go up to $250000 or more depending on the market conditions. This implies that those who opt to rent, instead of buying, lose the opportunity of doing viable business as their landlords are the only ones who benefit from the appreciation. However, some may be argue that it is not always that capital appreciation is realized as sometimes it does depreciate. In such but rare circumstances, the tenant is not affected but all in all, having an entrepreneurship mind is considered to be a strength, which everyone must possess in order to succeed in the contemporary world. This means that one should not fear taking a risk just because he or she is not sure about the future.Human beings are sometimes faced with difficult financial challenges, which necessitate borrowing money from financial institutions such as banks. These challenges are for example high medical bills, the need to expand businesses or acquisition of more assets such as a motor vehicle among others. However, these institutions require such customers to have assets, which can be used to secure those loans in addition to showing that they are capable of paying up the loans. Renting versus Buying a Home.
Brown, R. (2006) Home Buying for Dummies, 3rd edition, Wiley
Hanson, D. (2010) Buying vs. renting a Home, Wiley
Irwin, R. (2008) Tips and Traps When Buying a Home, McGraw-Hill
Pestalozzi, T. (2002) Life Skills 101: A Practical Guide to Leaving Home and Living on Your Own, Stone Wood Publications
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