The Pros And Cons Of Owning A Home

Owning a home is everyone’s dream. For the head of the household to provide a home for his family is a dream come true to everyone. To loss a house to foreclosure is a tragedy not only to the head of the household, but also to the whole family, that will linger for a long time. The morale in losing a home to foreclosure is very much affected, especially if a home is lost because of decreased income, poor planning, and or lost of job, it can tremendously affect the lifestyle of the family and the relationship with each other in the home.

Interest rates are at its lowest rate, and foreclosed homes are flooding the market, making it a buyers’ market, and making it very attractive for everyone to fulfill their American dreams. For people that had lost their homes to foreclosure, they had an urge that now is the right time to buy another home, after losing their home from foreclosure, because prices are low, and as long as they have income to sustain their needs. Owning a home is more expensive than renting a home, so for people with history …show more content…
Rent to own can be expensive for the buyer, but can be helpful for the seller. The seller still continues to earn income on the property anyway it goes, and the buyer is held up on the deposit, once he change his mind he will lost his money that he put in as down payment and extra amount he gives towards the purchase of the house becomes an income for the seller. When something goes wrong on the property and the seller will not agree to fix the problem, these can cost the renters a lot of money, and on this situation the buyer is will on losing end, since he has the deposit at stake in case the deal will not go through. The deposit amount can be expensive and sometimes impossible for people that had a history of foreclosure too. A huge amount of money is not available at times, making it impossible for them to enter into an agreement like