BUS 215 Week 3 Discussion 1, Renting vs. Buying

BUS 215 Week 3 Discussion 1, Renting vs. Buying Consider whether renting or buying a home is the best approach to achieving your long-term financial goals. Use the text concepts, tools, and various data (housing rental costs, home sale prices, mortgage rates, etc.) available to youin your geographic area, and your current and future financial condition to analyze your rent or purchase potential. Suggested websites include A: Apartment Living/Rental and Texas Apartment Association. Remember to account for any future increase/decrease in costs, mortgage debt, closing costs, insurance, appreciation or loss, taxes, etc., related to your decision. Determine which would be best for younow and in the future. Post to the discussion board a 200 word summary of information gathered, as well as your decision based on this information. Respond to at least two of your classmates’ postings. In this day and time, there are a lot of options when it comes to deciding upon the type of living accommodationsbest fits you. There are apartments, condos and houses for rent, as well as, condos and houses for sale. Youcan even rent to own condos and houses. Before youcommit yourself to any type of accommodations it is best to evaluate your financial situation, both present and future, what the market in your area has to offer. In the area of Dallas, TX that I live in the rent on anapartment is quite reasonable. It cost 700 to 750 in the part of Arlington that I live in for anapartment and the apartments are quite roomy. At the end of the year my husband and I are looking to either rent or rent to own a house since we havetwo small children. I havebeen checking the market for house rentals and rent to own homes for about the last month. Depending upon the age of the home, the size, the area and what youcan afford, the houses here in Arlingtonin the area that I presently live in are very reasonable. I think our best option for living accommodations, since both my husband and I are both still in school would be to find a house that wecould rent to own. We can find a nice size home for about 100 a month more than we are payingfor a 2 bedroom 2 bath apartments.