What is the advantage of buying the house over renting the apartment?
Owning vs. Renting
| Own Or Rent | Advantages |
|---|---|
| Homeownership | Privacy Usually a good investment More stable housing costs from year to year Pride in ownership and strong community ties Tax incentives Equity buildup (savings) |
| Renting | Lower housing costs Shorter-term commitment No/minimal maintenance and repair costs |
What is the advantage of renting the apartment over buying a home check all that apply repairs and maintenance costs are not Sasha’s responsibility?
Explanation: The advantage of renting the apartment over buying a home are that: Repairs and maintenance costs are not Sasha’s responsibility – The repair and maintenance cost goes to the home owner and not Sasha since she just rented the house. The owner who bought the house bears the cost.
What is the advantage of renting the apartment over buying a home check all that apply there is greater privacy in an apartment compared to a single family home?
There is greater privacy in an apartment compared to a single family home. Utilities, such as electricity and water, are included in Sasha’s rent payment. Sasha’s upfront costs will be lower, allowing her to keep her savings.
What are 3 disadvantages to owning a home?
Disadvantages of owning a home
- Costs for home maintenance and repairs can impact savings quickly.
- Moving into a home can be costly.
- A longer commitment will be required vs.
- Mortgage payments can be higher than rental payments.
- Property taxes will cost you extra — over and above the expense of your mortgage.
What is bad about renting?
Cons of Renting a Property You might also be limited to what you can do to the unit. So you might be paying less than your neighbor with the mortgage today, but if your neighbor’s mortgage is fixed, they’ll still be paying the same amount in the future while your rent shoots higher.