The Bainters want to compare the costs of renting a home to the costs of owning a home before considering the other factors. Keep in mind that the Bainters anticipate that they will live in the area for a minimum of 15 years.

1. How does the cost of renting for a year compare to the cost of owning for a year?
2. Does one option seem better than the other based on the cost estimates alone? Why?

Your two answers should include the estimated annual cost of owning a home (refer to the calculations that you wrote down previously for the project) the estimated cost for renting after 1 year, 5 years, 10 years, and 15 years a comparison for each of the 4-time frames between the annual cost of renting versus owning your explanation of which option (renting or owning) seems better based only on the cost estimates, and why

Answer rating: 100% (QA)

Benefits of own house 1 No monthly rents 2 Sense of security 3 Capital a... View the full answer