You have enough money to purchase either a house or a business. Which would you choose to buy? Give specific reasons to explain your choice.
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If I have enough money I would rather opt for buying a house. In this essay I shall elaborate on my viewpoint.
Buying a house is an Investment that appreciates at a very high rate. Rising real estate values have made home ownership a better investment than stocks market over the past several years. Experts say if you want to beat Stock Market, buy a house. Other key benefits to buying a home include:
• In case of loans, the interest you pay on your mortgage is tax deductible, so homeowners stand to gain a significant reduction on their income tax.
• Many sellers will also be anxious to sell by the end of the year so that they, too, can enjoy tax savings on the next home they purchase. That means you may have more leverage during negotiations and they may be willing to accept lower than their listing price.
• If you're buying a new house, there's a good chance builders will be offering incentives. Many builders will throw in nice little extras to sell as many houses as they can by the end of the year.
• A place to make your own. When you own your house, you can update your kitchen, paint your home's exterior in any color you choose, change your fixtures, and replace your carpeting -- all with the knowledge that the changes you make are your own. Improvements can increase the value of a house, in turn giving owners more money when they sell.
In conclusion, home equity is the largest component of personal wealth for everyone. Increase in home values and conversely volatility of the stock market proves the benefits of buying a house.
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