com week 3 - iii Mortgage payment stays the same over 30...

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1. People who need financial stability need to buy houses a. Advantages and disadvantages of renting b. Advantages and disadvantages of buying 2. Renting a. Advantages of renting i. You don’t have to worry about paying taxes on the property. ii. It is easy to move out if you don’t like the place anymore. iii. No cost or effort spent on maintenance. iv. A good way to start out in the beginning. b. Disadvantages of renting i. There are strict rules you must follow. ii. You aren’t allowed to do any remodeling, unless approved by landlord. iii. If anything is broken when you decide to move out, you don’t get your deposit back. iv. Etc. 3. Buying a. Advantages of Buying i. Pride and comfort of owning your own home. ii. Ability to customize your home exactly how you want it.
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Unformatted text preview: iii. Mortgage payment stays the same over 30 years. If you were a renter, your rent would definitely go up. iv. If you itemize deductions, you can deduct the interest you pay on your mortgage v. When (if) you sell your home, you don't have to pay any income tax on the gain!! b. Disadvantages of Buying i. Work needs to be done or paid for by you. ii. 2 nd con iii. 3 rd con 4. Conclusion a. After taking into consideration everything that I have looked up and people I have talked to there is no reason why I would ever think renting is better. b. Being able to know you own your own home it makes everything feel better. I love painting and with renting a home you can’t do that because most landlords don’t approve of it....
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com week 3 - iii Mortgage payment stays the same over 30...

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