Unit 7. A discursive essay.
To rent or to buy a property.
Ownership has been a long-establish feeling among the spaniards. Renting a house was almost ignored in our country during the housing bubble. Now, the motto 'flat's prices never drop' seems to be questioned and the rent market is increasing.
Firstly, a house is not a consume product like a dress or potatoes. A house is an investment value. In other words, you decide to put your money on it with the aim of earning more money when you will finally have payed it all (even if you aren't a property speculator) and, meanwhile , you can live inside. The advantages of buying a house seem clear, for a little more than a rent payment you are enjoying and getting a high-value product at the same time. Probably, when you get older and your incomes decrease, due to the low retirement benefits,not only you won't have to care about a monthly payment but also you will have a high amount of money available if you decide to sell your home.
However, buying a house is a high-risk invesment. We are purchasing an expensive financial asset in relathion with our yearly wage so we have to put ourseleves in debt. Sadly, with a few exceptions, our wage is not guaranteed forever anymore. As long as wages decrease and unsafe laboral conditions and property taxes increase, paying for a house seems a heavy charge. So flexibility is the big adavantage of renting a property. If one day your space, budget or place requirements change you can easily move to a more suitable home. Furthermore, this option needs less paperwork and signing a contract with your landlord is not the same as signing it on a bank since them have hardest penalty clauses.
Is it better to own or to rent a house? The answer depends on the place, your way of life and financial stability. In my opinion, what people must know is that to own a house is not a compulsory right. Investing in a house is the same as put the money in the stock...