Respuesta :
When you rent a home for a long time (for example 15 years) you will pay more money than if you buy a home. This is due to the fact that when you buy a home it will cost you some money (you will likely get a mortgage) but after you payed everything the house is yours so you won't have to pay the money you would other wise pay for the rent
One reason to buy a home instead of rent a home is the cost of purchasing the home is less than the expense on rent in the long term.
Further Explanation:
Buy a home:
Buying a home means to purchase a home by investing a huge amount of money. It also refers to owning. Owning specifies the process of getting possession of something. For example, acquire the property, purchase a home, purchased machinery, and purchased equipment. Owning can lead to lower costs in the long term.
Rent a home:
Renting a home means the tenant pays a fixed amount of money to the owner of the home. The rent has to be paid every month. The amount of rent can be varied according to the type of house, availability of home to the nearby park, hospital and any other basic amenities, the home would be park facing and sun-facing, and many other factors should be considered for computing the amount of rent.
The main reason behind buying a home instead of renting a home is the cost of purchasing a home for ten years is less than the expense paid on rent for ten years. In a long period, buying a home is beneficial than renting a home. In short, term, renting a home is beneficial rather than buying a home because it involves a huge amount of money for purchasing the home.
The other reason behind buying is the possession of the home. In case of buying a home, the possession of the home is taken by the owner.
Learn more:
1. Learn more about renting
https://brainly.com/question/2288011
2. Learn more about owning
https://brainly.com/question/2731676
3. Learn more about owning vs. renting
https://brainly.com/question/2665554
Answer details:
Grade: Middle School
Subject: Accounting
Chapter: Owning vs. Renting
Keywords: the reason to buy, a home, instead of rent, is lower cost, cost of purchasing, rent a home, buy a home, possession of the home.
