Renting an Apartment Is a Better Option than Buying a House Essay

rental an Apartment Is a let out Option than Buying a House - Essay ExampleCorrect sparing decisions are in truth essential in the long run and can prove to be beneficial. One such economic decision relates to the choice with regard to renting an flatcar or purchasing a house. This choice is an extremely important decision that postulate to be taken with care as both renting an apartment and purchase a house have their own positive tailors as well as drawbacks. thither are supporters of both these decisions with a few people considering renting as a better pickaxe whereas the other group believes that buying is a much wiser decision. Thus, it can be said that renting and buying have their own benefits and drawbacks and a decision needs to be based according to personal needs and the option which serves as a more profitable settlement for the person. Renting is basically a do in which a person rents a house or an apartment for a living still does not have any ownership righ ts over the house. He has an obligation towards the landlord of a paying a fixed amount to him both month according to the joint decision taken by them. Renting can be considered to be a good option for people who choose to shift every now and then. This is because a person can easily leave a rented house and move to another(prenominal) city rather than having the burden of actually going through the process of selling his house later on a few months. Thus it is argued that renting is the best option for people who do not call to stay in one place for more than a period of two years (Rockwell create Co. 2006, Law 2003). According to Thomas Z. Lys who is a professor of accounting at Kellogg School of Management at Northwestern University, If you believe youll be moving in the next four or five years, Id rent. The new-fangled York Times carried out a survey in this regard and provided for the fact that owing to the rise in the prices of buying a house, renting is a very suitable option considering the economic factors. The analysis identify very important facts that renting an apartment was a better and reasonable option if considered from the financial point of view.