Renting or Buying

Running Head : INSERT ABBREVIATED TITLE Rent or Buy

Purchasing property is always a risky business due to the massive investment required . However a property owner is living a dream life since it 's the satisfaction and security of a personal home that makes a person happy . On the other hand , renting a property is much easier due to the regular but smaller payments each period . This is one option that most average income earning people can afford . However getting a mortgage for a home is a tool used by many due to the

dual advantage of getting to own a personal home and paying regular but smaller payments each month

With an annual salary of 50 ,000 after tax , the disposable income for each month comes around to be 4100 . Approximately a person pays one-fifth for his property from his income so ideally , I can only pay around 800 at most per month (Associated Press , 2006 . This means that if I decide to either buy a house or a condo or rent a place , at most I can spend about 800 per month . This figure leaves me with fewer options and my search can focus on homes whose prices are below 800

According to research online I can get a lot of choice for a rental home /apartment with rents going as low as 600 per month . However since I would be living alone and would need a good and safe location for my future home that is close to...