The Problem

Renting vs. Buying a House

With the recent issues with the economy, many couples have thought long and hard about whether they wanted to purchase a home or to just find a nice apartment in a nice neighborhood and rent.

The trend in the last part of the 20th century was to purchase a home as aninvestmentfor the future. Couples would purchase a home and make improvements to increase the equity in their home. In retirement, couples could use the equity in their home to off-set their children's college costs or possibly medical bills.

Now, couples are considering that it is just as economical to rent instead of purchasing a home. It also gives couples the opportunity to not have to have huge maintenance bills and landscaping costs. Renting doesn't usually involve remodeling costs. Some couples that choose not to have children pick this option to keep housing costs down and give them a chance to save money for trips or other high price items.

Do you think it would be better to purchase a home as an investment or do you see yourself as aperson who would rather rent a nice apartment?

Directions:

1. Think about the problem described above. You might feel you don't know enough to solve the problem but that is the challenge!
2. Use the Circle Map to help you brainstorm
3. In the center of the circle, use a word, number, picture, or any other sign or symbol to represent problem you are trying to understand or define.
4. Write or draw any information that puts this object, person, or idea into context.