The Voice of Southwest Louisiana August 2019 Issue

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SWLA business Benefits of Homeownership and Benefits as Renters By Vu Tran When people consider between choosing to own a home or rent a home or an apartment, what is best for people may depend on their current financial condition, income, credit score and other factors. Many people always keep in mind, buying a house also means not only for their future but also for the next generation. No one wants to depend on a lease in which they will have to pay a significant amount of money for something not in their ownership, and there is a risk of revocation at any time. When owning a house, it is more likely that people will spend more time caring for it. They will be able to freely change their home and arrange repairs without waiting or obtaining permission from a landlord. They can do everything they want to design the house according to their wishes. They can drill walls to hang paintings, replace carpets with wooden floors, repaint room colors to their liking, and decorate their furniture in style. For animal lovers, owning a home is great when they can be allowed to take care of their pets. The house is like a family's own world, they can create their own rules. They can have their own activities and don't have to worry about the disturbance of others. When living in an apartment, noise is very sensitive when the apartments are close together. Homeowners will often have a long-term, more connected relationship with their neighbors. If people settle down and have a decent home to live in, it will help them feel more comfortable and confident when working, communicating and doing business. The home is a place that makes them feel comfortable, safe and free. There are many people who are afraid of change, so buying a house will be considered a fixture in their lives and work. Having a home will be a guarantee for homeowners future when they retire. Owning a home can also be considered a short-term or long-term investment. When owning a home, the owner can see the added value of the house and it can bring a return on their investment. Owning a home may help you reduce the amount of money you pay in income tax. The mortgage interest and property tax payments can be included in itemized deductions on tax return. When buying a home, it can help homeowners build strong credit history by making their mortgage payments timely. Most people see owning a home as one of the major goals and criteria for evaluating success. However, this trend is changing as many people realize that renting a home or an apartment is also a wise choice. If the finances do not guarantee the conditions to buy a house, renting a house will help to avoid pressure on debt repayment. Also, the personal financial situation is also more flexible. If renting a house, people can enjoy good facilities without spending money on construction and equipment. 20 August 2019 WWW.THEVOICEOFSOUTHWESTLA.COM Volume 7 • Number 1
The tenant’s job is to find the homes that meet the needs for a reasonable price, consistent with their budget. Usually, in a lease, if the electrical system has a problem or the house's plumbing system leaks, the landlord has responsibility for their repairs. The landlord will be responsible for all repairs and maintenance. These costs are paid by the property owner to maintain the house. When a tenant has a job needs requiring them move a lot, there is nothing more suitable than short-term rent of a house or apartment. If owning a house, they will have to worry about selling the house. Renting will give people more opportunities for work. It may seem irrelevant, but the fact is, if owning a house, people often have a psychological desire to have a stable job close to home and often fear about being fired. This inadvertently causes them to lose better job opportunities in a remote area. While if renting, they can fully take the initiative in choosing a job and then choose housing accordingly. However, in any case, home ownership is always encouraged if you have a solid financial foundation as well as a long-term stable job. About Vu Tran Vu is from Vietnam and holds a Bachelor of Science in Accounting Major from McNeese State University. She has been living in Lake Charles, LA for 6 years. Vu is a Staff Accountant at J. Walker & Company, APC. Her roles at J. Walker & Company, APC are preparing Corporation, Non-profit Organization, and Individual Tax Returns, and also preparing Medicare Cost Report. Vu Tran Staff Accountant J. Walker & Company, APC | www.jwalkerco.com 2740 Rue de Jardin, Ste. 100 | Lake Charles, LA 70605 P.O. Box 6592 | Lake Charles, LA 70605 P: 337-478-7902 F: 337-478-3345 Volume 7 • Number 1 WWW.THEVOICEOFSOUTHWESTLA.COM August 2019 21
Page 1 and 2: August 2019 Vol 7 No 1 Change… Ho
Page 3 and 4: editor’s By Brenda Hill Change…
Page 5 and 6: SWLA news Volume 7 • Number 1 WWW
Page 7 and 8: Volume 7 • Number 1 WWW.THEVOICEO
Page 9 and 10: See more at https://www.chopchopfam
Page 11 and 12: for Health Services include Family
Page 13 and 14: Serving the Lake Area for over 50 y
Page 15 and 16: Jacqueline White, MBA is the Co- Ow
Page 17 and 18: Volume 7 • Number 1 WWW.THEVOICEO
Page 19: Rita’s first memories of feeding
Page 23 and 24: LaKeisha Winters Combre Fondel 3rd
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Page 27 and 28: Photo Credits: Levert Blount Nora P

The Voice of Southwest Louisiana August 2019 Issue

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