TERM 1
Introduction pt1
DEFINITION 1
Good morning class, my name is Nath aniel Skeete and today I will
tell you about home owning. Most pe ople tend to ask themselves
is owning a home worth? Well owning a home is just as important
as choosing a career. As an Academy of Finance graduate and
current business major I further my r esearch about home owning
so I can explain why you should by a h ome instead of renting once
you have a career.
TERM 2
Body P1
DEFINITION 2
Renting a home means that you mu st follow tenant policies.
Policies such as no pets, or guest duri ng a certain time and
another issue maybe noise of neighb ors which can be frustrating
especially if you are trying to relax fro m a long day of work. Also
you will not have asset to sell when y ou are ready to move. All you
will receive for your years of monthly payments is a good bye and
handshake from the landlord.
TERM 3
Body P2
DEFINITION 3
Owning a home is beneficial by creating living stability for
the people who inhabit it. The average home increases in
value as the years go by. This means if you have had a home
for ten years, that was valued at $200,000 then the value
could be from $280,000 to $320,000 which is a four to six
percent increase per year.
TERM 4
Body P3
DEFINITION 4
Owning a home is beneficial by increasing net worth as you gain assets
by investing in furniture, and many other h ome appliance. Another plus a
tax deduction on mortgage and property taxes. The government doesn't
offer people who rent a benefit this good. Also the government cannot tax
the profits from the sale of your first home if you choose to sell it.
According to The New York Times article Is It Better to Rent or Buy?
By MIKE BOSTOCK, SHAN CARTER an d ARCHIE TSE You can keep
the first $250,000 in profit you make wh en selling the home if you're
single, or the first $500,000 if married.
TERM 5
Body P4
DEFINITION 5
Owning a home is beneficial to building credit. A fixed-rate
mortgage payments remain the same for the length of the
loan. Mortgage payment amount rises every year for the
time of the loan as result of the tax credit declining every
year. The interest part of the payments beings to decline as
well.
