Deciding whether to buy or rent Research Paper Example | Topics and Well Written Essays - 1250 words

Deciding whether to buy or rent - Research publisher ExampleAs the number of years that a property will be used increases, the advantages of get also increase.Flexibility is a nonher issue to consider when deciding to rent or to buy. For instance, if one wants an asset that he can leave and go for another option, renting would be the best choice for much(prenominal) a person. Renting means that the person is only attached to the house for only one month at a time and this means that the person can move out if and when they want. This is unlike buying, because one time a property is bought, disposing the property can be a very difficult process and in the case where the owner wants to move to a different option, the owner may ache to wait for months or even years before he is able to dispose the property.The other factor to consider when deciding to buy or to rent is the follow of maintenance. As Jared (20) asserts, when a property is bought, the owner is responsible for sole ly the maintenance cost that the property will require. On the other hand, renting relieves the burden of each costs associated with maintenance of the property. For instance, if a home needs repair, the owner of the house is the one who is going to pay the cost of repair. If one intends to avoid the high costs of repairing and maintaining the property, the person may need to consider renting preferably than buying the property. In cases of expensive assets, the other maintenance costs that the owner of the property will pass to incur will be the insurance costs, which will be used to insure the property against any form of loss.Once a property is bought, any risk or risks associated with the property will have to be borne by the owner (William 12). Renting on the other hand means that the person does not own the risk, and that if the risk materializes, the person will not have to bear the risk. This is very important for a person seeking to own or rent a