/
Renting vs. Owning Renting vs. Owning

Renting vs. Owning - PowerPoint Presentation

danika-pritchard
danika-pritchard . @danika-pritchard
Follow
425 views
Uploaded On 2017-06-08

Renting vs. Owning - PPT Presentation

Costs of renting Monthly rent Security deposit Utilities electricity water garbage etc Renters insurance Advantages of renting Low movein costs Fixed monthly expenses Easy to move ID: 557165

property renting ownership costs renting property costs ownership monthly owning electricity water garbage mortgage typically expensive pets maintenance disadvantages apartment money advantages

Share:

Link:

Embed:

Download Presentation from below link

Download Presentation The PPT/PDF document "Renting vs. Owning" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.


Presentation Transcript

Slide1

Renting vs. OwningSlide2

Costs of renting

Monthly rent

Security depositUtilities – electricity, water, garbage, etc.Renter’s insurance Slide3

Advantages of renting

Low move-in costs

Fixed monthly expenses

Easy to move

Location choices (may be close to work or school)

Less maintenance and repair workFewer responsibilitiesMay offer extra amenities such as a tennis court or pool

Typically less expensive than home ownership

May be able to save for other wants or needs if renting a less expensive apartment

Other expenses may be included in rent payment such as electricity, water, sewer, and/or garbageSlide4

Disadvantages of renting

Subject to terms of a lease

Rent may change with little noticeLess privacy and transient neighbors.

Restrictions on noise level, pets, etc.

Fewer opportunities to upgrade apartment such as new carpet, paint, or wallpaper.

When leaving a property, no equity is returned as it would be if selling a home.

No tax deductions

May lose rental if the property is sold.Slide5

Costs of ownership

Monthly mortgage payments

FixedARM Down payment (one time cost)

Closing costs (one time cost)

Utilities – electricity, water, garbage, etc.

Homeowner’s insuranceReal estate property taxesMaintenance Slide6

Advantages of ownership

Build equity which can be borrowed against if necessary

Pride of ownership

Feel more comfortable and have more privacy

Stable mortgage payments

More room and storageImprovement of buyer’s credit rating

Income tax deductions for property taxes and mortgage interest

Potential for property to increase in value

Free to make home improvements and have pets (items typically not allowed in rentals)Slide7

Disadvantages of ownership

Large down payment

Move-in costsInsurance costs

Possible for property to decrease in value

Time, money, and energy commitment

Repair and maintenance costs

Property taxes can raise substantially

Money is tied up in the home

May take several months to sell a home if trying to relocateSlide8

Video

Renting Vs. Owning a Home

Renting Vs. Owning