How Does Hydro And Wave Energy Work Environmental Sciences Essay

How Does Hydro And Wave Energy Work Environmental Sciences Essay Vitality otherwise called power is a significant wellspring of vitality utilize all around the globe. Power Energy does a ton of work, for example, it gives individuals light. It warms our bodies and homes. It runs our TVs and our vehicles. It causes us to develop and move and think. Vitality is the ability to change things. It is the capacity to accomplish work. Light is a kind of vitality we utilize constantly. We use it so we can see. We get a large portion of our light from the sun. Around evening time individuals must make there our own light. Typically, we use power to make light. In todays world with the assistance of most recent innovation vitality can be made by utilizing heat from sun, intensity of wind and the power of falling water or wave. As of now government from all around the globe are sharp in putting a ton of cash in these activities. The tasks are met to be earth well disposed, low in cost, simple to keep up and commotion free. Hydro vitality framework gives vitality that regularly originates from water power and changes over to power. Hydro vitality can be made by utilizing numerous ways. In a large portion of the main nations, the most dependable and modest basic technique for producing vitality from water are hydroelectric dams, where water descends through a region that makes turbines turn and afterward vitality can be caught to run a generator. Force can likewise be produced from the vitality of flowing powers or wave power, which utilizes the vitality made by waves. 1.2 Technology in various nations Mechanical advances in the plants and in power transmission make it possible to fabricate hydroelectric plants in remote areas, a long way from where the force will be utilized. The Itaipu Dam on the Paranã ¡ River among Paraguay and Brazil can create up to 12,600 megawatts of intensity. This plant, opened in 1982, supplies about all Paraguays power and one-fourth of that required for Brazil. Tasik Kenyir (Lake Kenyir) Sultan Mahmud hydroelectric force station in Malaysia has a limit of 400 megawatts of intensity. One of the biggest hydroelectric activities on the planet is Chinas Three Gorges venture on the Yangtze River. The dam, intended to control the overwhelming floods on the waterway, incorporates an enormous hydroelectric plant. With a limit of 18,200 megawatts, Three Gorges is anticipated to have the option to give up to one-ninth of Chinas power needs. China has likewise manufactured numerous little hydroelectric plants for neighborhood use around the nation. 1.3 Stage of improvement of Hydro Energy Hydroelectric force developed quickly after that. In 1886 there were 45 hydroelectric plants in the United States. By 1889, 200 plants were producing power by utilizing water for a few or the entirety of the force. Simultaneously, hydroelectric force plants opened the world over. Italy constructed its first hydroelectric plant in 1885 at Tivoli, in the mountains outside Rome. The plant at first controlled lights in the close by town. Yet, by 1892 a second plant in a similar area was giving capacity to Rome, the main significant distance power transmission in Italy. Different nations with great conditions for hydroelectric force before long constructed plants. Canada, France, Japan, and Russia were among the first ready. During the period from 1900 to 1950 the utilization of hydroelectric force expanded quickly. 1.4 Economics and legislative issues included Hydro vitality frameworks have a major effect financially as the framework gives vitality to open where they are charged for the overhauled. While this procedure go on capital ordinarily comes in the market where each one gets a bit of the business or makes benefit for there business. Politically the framework can have any kind of effect for instance if there is a catastrophic event the legislature will make a misfortune. 1.5 Cultural and dynamic in various nations Numerous nations on the planet use hydro vitality framework to make power in a lower cost. At present Canada comes up top of the rundown for high use and the United States comes in second. One of the principle reasons the accompanying nations took the choice to utilize hydro vitality framework the most to create power is on the grounds that its a sustainable power source, which implies it won't be exhausted after some time and it will reliably be renewed. It is likewise a spotless vitality source. 1.6 Possible Problems when utilizing Hydro Energy One issue that can happen when utilizing hydro vitality is that it at some point can change the characteristic progression of the water which can make it conceivable to hurt plants and creatures in the water. It can likewise harm zones and untamed life, as while making a hydro electric dam, regions ought to be overflowed. 1.7 Profitable Hydro Energy framework Different reasons that numerous nations need to utilize hydro vitality is that it is less expensive than utilizing different techniques to change over vitality to power. It is additionally dependable and can be utilized very quickly when gone on to fulfill the need for power. In this way, one must gauge the advantages and disadvantages before choosing to utilize hydro vitality to flexibly their interest for power. 1.8 Application of Hydro Energy our Major A hydro vitality plant can assimilates the vitality of falling water to produce power then a turbine can changes over the vitality of falling water into mechanical vitality. At that point a generator needs to change over the mechanical vitality into electrical energy. Hydro plants can be in various size from small scale hydro that power truth be told, not many homes. A Dam can raise water level of a waterway to make falling water. Also the dam can control the progression of water. The supply that is made is will for all intents and purposes put away vitality. The power of falling water should push against the turbines edges making the turbine turn one way. A water turbine is like a windmill,â except that the vitality is given in various manner, falling water rather than wind. The turbine should change over the dynamic vitality of falling water into a mechanical vitality. Generator that is associated with the turbine through shafts soâ when the turbine turns it makes the generator to pivot likewise change over theâ mechanical vitality from the turbine into electric vitality. Wave Energy 2.1 Background of wave vitality Waves are normally brought about by the breeze which blows over the ocean level. In numerous piece of the world, the breeze blows with various power to give waves that can be utilized to create vitality. There is elevated level vitality and power in the sea waves. Wave force can devicesâ and extricate vitality straightforwardly from the surface sea waves or from pressure vacillations underneath the surface. Wave can likewise be created wave when earth quack happens. Wave powerâ varies widelyâ in various pieces of the world, and wave vitality cannot be usefull successfully all over the place. Wave-force can be found in various regions of the world incorporate the western shores of Scotland, northern Canada, southern Africa, Australia, and theâ north-western shorelines of the United States. 2.2 Technology In the current market advances and configuration in wave Energy framework has improved massively. The mechanical wave power station/plant needs to utilize a shoreline chamber, in which seawater goes back and forth normally. As the water come, the air in the chamber is pressurized and compelled to experience an opening into the turbine, to make it turn. As the water retreats, the air is returns, leaving the turbine turning. The turbine at that point can be associated by means of a pole yet the new innovation is utilizing belt to the generator where vitality will be changed over into power. 2.3 Impact on condition In todays world wave power is considered as ecologically amicable. Most grumble as a rule originate from nearby neighbors as it very well may be somewhat boisterous, scene, or influence of streets prompting the destinations. These grumbles are at present observed as impediment. 2.4 Political and Economical Impact Wave vitality has had a major effect financially and politically from years. Financially in a manner when a task occur it unites capital which implies everybody private venture, contracts workers, shops and many get a segment of the business and procure them benefit. Politically it can influence the legislature if the venture doesn't work in view of a cataclysmic event. 2.5 Application of wave vitality Dynamic vitality normally must be in the wave that moves in the sea. The vitality can be utilized to power and run a turbine. Following the model in graph 1 underneath wave should rise while arriving at the chamber. The powers of the rising water really need to push let some circulation into of the chamber. The moving air in red shading appeared in the chart turns the genuine turbine which will physically turn the generator. After this procedure wave down, wind currents through the turbine and go into the chamber through entryways that are ordinarily shut. Others framework really goes through and down movement of the wave to control cylinder that goes here and there inside the chamber. That cylinder ought to have the option to turn a generator. Flowing Power Wave Energy Graph 1 Examination of various vitality framework Hydro Energy Hydroelectric force has different advantages also. Dams and hydroelectric plants keep going quite a while. This implies once the expenses of building are paid off, a hydroelectric plant turns into a moderately economical wellspring of power. Wave Energy Wave vitality framework is tantamount to hydro vitality. Favorable circumstances are it doesn't upset open in the event that there of commotion. Detriments are it can cause harms on the off chance that there are ocean storm and furthermore bug be hard for designers to do any support. Wind Energy Wind Energy framework work about a similar way wave vitality works. Before engineers used to put large turbines in land however now innovation has improved same framework can be expand on ocean and fills in the same class as some other framework. End Following the conversation between various sort of vitality frameworks. Vitality is a significant factor in todays world. As innovation level is rising better vitality framework is been structure and tried. As of now another vitality framework has been tried which works submerged. The turbine framework is fixed on the ground to protec

Definition and Discussion of Mental Grammar

Definition and Discussion of Mental Grammar Mental sentence structure is theâ generative syntax put away in the mind that permits a speaker to create language that different speakers can comprehend. It is likewise known asâ competence language structure and semantic skill. It appears differently in relation to semantic execution, which is the rightness of real language use as per a dialects endorsed rules.â The idea of mental sentence structure was advanced by American language specialist Noam Chomsky in his noteworthy work Syntactic Structures (1957). Philippe Binder and Kenny Smith noted in The Language Phenomenon how significant Chomskys work was: This attention on syntax as a psychological element permitted gigantic advancement to be made in portraying the structure of dialects. Identified with this work is Universal Grammar, or the inclination for the cerebrum to take in complexities of language structure since the beginning, without being verifiably shown all the standards. The investigation of how the mind really does this is called neurolinguistics. One approach to clarifyâ mentalâ or competenceâ grammarâ is to ask a companion an inquiry about a sentence, Pamela J. Sharpe writes in Barrons How to Prepare for the TOEFL IBT. Your companion most likely wont know whyâ its right, however that companion will knowâ ifâ its right. So one of the highlights of mental or skill sentence structure is this unimaginable feeling of accuracy and the capacity to hear something that sounds odd in a language. Its an inner mind or verifiable information on language, not learned through repetition. In The Handbook of Educational Linguistics, William C. Ritchie and Tej K. Bhatia note, A focal part of the information on a specific language assortment comprises in its punctuation that is, itsâ implicitâ (or inferred or subliminal) information on the guidelines of articulation (phonology), of word structure (morphology), of sentence structure (linguistic structure), of specific parts of importance (semantics), and of aâ lexiconâ or jargon. Speakers of a given language assortment are said to have an implicitâ mental grammarâ of that assortment comprising of these standards and vocabulary. It is this psychological language structure that decides in huge part the recognition and creation of speechâ utterances. Since the psychological syntax assumes a job in real language use, we should infer that it is spoken to in the cerebrum in some way.The point by point investigation of the language clients mental sentence structure is for the most part viewed as the area of the order of etymology, though the investigation of the manner by which the psychological punctuation is put to use in the genuine understanding and creation of discourse in phonetic execution has been a significant concern ofâ psycholinguistics. (In Monolingual Language Use and Acquisition: An Introduction.) Before the mid twentieth century and past to Chomsky, it wasnt truly concentrated how people procure language or what precisely in ourselves makes us not quite the same as creatures, which dont use language as we do. It was simply arranged uniquely that people have reason, or a sane soul as Descartes put it, which truly doesnt clarify how we secure language-particularly as children. Children and little children dont truly get language structure guidance on the best way to assemble words in a sentence, yet they gain proficiency with their local tongue just by introduction to it. Chomsky took a shot at what it was that was unique about human minds that empowered this learning.

Does Renting Your Home Really Mean Youre Throwing Money Away - OppLoans

Does Renting Your Home Really Mean Youre Throwing Money Away - OppLoans Does Renting Your Home Really Mean Youre Throwing Money Away? Does Renting Your Home Really Mean Youre Throwing Money Away?There are many benefits to home ownership, but its supremacy over leasing isnt nearly as clear-cut as some would have you believe.It’s a question as old as real estate itself: Should you rent or buy? You need a place to live, and those are generally the two options. So which option is better? That’s what you’re reading this article to find out!Of course, there isn’t just one answer that would fit every situation, or else you probably would have learned that answer before coming to this article. However, some people lean far more towards one option than the other.In fact, you may have heard people say that renting a home or apartment is “throwing your money away.” But is it actually? And why would they say something like that?Let’s find out!Homeownership means home equity.  On a basic level, you likely already know the difference between renting and buying something. Typically, if you’re purchasing an item, y ou’ll own that item after you pay money for it. If you’re renting it, then you get to use it for as long as you’re willing to regularly pay for the use.When it comes to a home or apartment, few people will be buying a property with one big lump sum of cash. It’s far more likely that a buyer will take out a mortgage, which is a loan used to pay for a house. The loan is paid down monthly and accrues interest while the home acts as collateral, meaning it will be seized by the bank if the owner can’t make their payments.“When buying a home you can take advantage of tax breaks such as deductions on interest rates and deductions on annual real estate taxes paid based on the assessed value of your property,” explained the experts at Redfin (@Redfin). “Homeowners pay monthly mortgage payments, gradually reducing the principal mortgage amount over time while the property keeps on increasing value, and you as a homeowner can build equity and increase your stake of ownership in the property with every payment.“And if you decide to sell your house you will get enough money to pay off the loan, and earn a little extra that you can use to purchase another house. In contrast, renters still make a monthly payment, but these funds do nothing to contribute to the renter’s long-term wealth.”Because renters do not build equity, many people will claim that renting is “throwing money away.”But there are benefits to renting, too.Of course, renting is not literally the same as throwing your money away. If spending money on something you will not own forever is throwing it away, then why have we been burning cash on all of this worthless food every day?In fact, not only can renting be the more sensible choice in many situations but owning tends to have its own forms of “throwing money away.”“Many people think renting is ‘throwing your money away’ but every person’s situation is different,” advised Ivan Chong, founder of Lazy Finances (@Lazy_Fina nces). “If you plan on moving every few years, renting might make sense over buying. Every time you buy/sell a house, you get hit with closing fees which are a significant amount of money. Mortgage interest, property tax, and homeowner’s insurance are all ‘unrecoverable expenses’ similar to rent, though you can deduct some of them off of your taxes. These effects are amplified in high cost of living areas.”Even if you are certain you want to own a home, that doesn’t always mean the present is the best time to buy one. If the time is not right to buy a home, then renting will actually save you money in the long term, not waste it.“The housing market fluctuates. If you need to sell it is possible that the market may be flat, and you can lose out on your investment,” explained Jared Weitz (@jaredweitz), CEO and Founder of United Capital Source Inc. “Fight this off by following the general rule of looking to buy a home when the interest rates are low, and the market is heading down. There are many hidden costs of home ownership, and renting shouldn’t always be looked at as ‘throwing money away.’“If you plan to spend less than three years in a home and have minimal money saved for a down depositâ€"look at renting. Unless you have 20 percent of a home cost available for a down payment, you will need to also factor in mortgage insurance payments.Additionally, if you look to buy in a condominium or housing community, HOA and maintenance fees will be included in your monthly payment. This adds additional cost to home ownership, making renting more appetizing while you save up.”Figure out what makes sense for you.One of the worst real estate choices you can make is one that you feel pressured into, against your better interests, because of generalizations you’ve been told.“The biggest mistake I see people make is buying a ‘starter home’ simply because they’re ‘sick of throwing away money’ or they feel pressure to take the next s tep into adulthood,” warned Stephen Caplan, financial advisor at Neponset Valley Financial Partners. “All sorts of evidence suggests that many young people end up regretting their home purchase because they didn’t know exactly what they were getting themselves into.The longer you live in a home, the more likely you are to reap the benefits of homeownership. On the flip side, your home purchase can turn into a disaster if your time horizon is too short.”Want to hear about someone’s personal experience navigating these choices? Here you go!“For myself and my husband, we chose to rent for the first 4.5 years of our marriage,” recounted Amanda Kintz, of Crunchy Hippie Life (@MsCrunchyHippie) and author of Dirt Cheap Adult: A Millennials Guide to Life on a Budget. “Renting allowed us options to move almost painlessly to different opportunities as they became available, rather than waiting and stressing about having to sell a house.It also significantly lessened the burden on us as a newly married couple building up their bank account since we didnt have to find things like emergency repairs or home improvements.“While we do own a home now, we are very thankful for the time we spent renting as it allowed us the freedom to save money and explore job opportunities (including moving to three different states!). I know we would not have been able to do that if we had been homeowners.”Older homeowners might be better off renting.It’s always a good idea to examine the specifics of each situation, rather than trying to adhere to general rules. For example, you might think an older person who is not planning to move would be the ideal candidate for home ownership, assuming they can afford it. But that’s not always the case.“As it relates to older clients I will often recommend renting instead of buying especially for second or vacation homes,” explained T. Eric Reich of Reich Asset Management. “Even renting a primary residence can be smart for older clients. My argument for renting is that while you may be physically able to maintain the home today, will you still be able to in 10-15 years?For a 65-year-old, many can’t answer that question confidently. The downside, of course, is that the rental could be sold and you could have to move at an age when you are least inclined to do that so it depends on the rental.“Personally, I’m not going to be climbing ladders or mowing lawns at age 80+ and hiring someone to do that work only adds to the cost of ownership. I’d rather see that money in their pocket working for them instead.As to the concern of leaving your house to your kids, I understand that most everyone wants to do that for their heirs yet almost no heirs actually want it, or if they do, they can’t afford it or afford to buy the other heirs out of it. What heirs really want is cash, not the house and all the issues that come with disposing of it.”Figuring out the best choice for you may not be as snappy a s logan as “renting is throwing your money away.” It does, however, have the benefit of being true more often. To learn more about housing-related financial issues, check out these other posts and articles from OppLoans:A Thrifty Person’s Guide to DownsizingHow Much Money Do You Actually Need to Buy a House?Is Rent-to-Own a Good Way to Purchase a Home?How You Can DIY Your Way to Cheaper Home MaintenanceDo you have a   personal finance question youd like us to answer? Let us know! You can find us  on  Facebook  and  Twitter.Visit OppLoans on  YouTube  |  Facebook  |  Twitter  |  LinkedIN  |  InstagramContributorsAfter spending nearly four years in New York City as an investment consultant, Stephen Caplan moved back home to the Boston area in August 2016 to join  Neponset Valley Financial Partners as a wealth manager. Upon his return, it soon became obvious to Stephen that one particular issue was affecting the financial lives of fellow millennials much more than anything else: st udent debt. Stephen has since become an expert on student loan repayment planning and recently earned the Certified Student Loan Professional (CSLP) designation. His practice focuses on helping young professionals integrate personalized student loan repayment strategies into long-term financial plans.Ivan Chong is a tech executive based in Silicon Valley. Ivan started  Lazy Finances (@Lazy_Finances) to help busy people like himself better understand personal finance and to show them ways to lazily save on their everyday expenses.Amanda Kintz (@MsCrunchyHippie) is a Registered Nurse. After living on an income of just $16,000 with her husband in 2014, Amanda discovered a passion for educating and empowering people to live a lifestyle of wellness in both body and finances. Her creative ideas for living a healthy and financially free life can be found on her blog, CrunchyHippieLife.com, and her new book, Dirt Cheap Adult: A Millennials Guide to Life on a Budget, now available on Amazon and Barnes and Noble.com.Redfin (@Redfin) invented map-based real estate search in the US. Then they hired their own agents to put consumers first. Redfin Agents are accountable for helping clients buy and sell the right home, at the right price.Eric Reich is President and founder of  Reich Asset Management, LLC. He relies on his more than 20 years of experience to help clients have an enjoyable retirement. Using his Enjoyable Retirement Solution, Eric helps retirees maximize retirement income while preserving their principal. He believes that, for many retirees, preserving principal is more important than trying to beat the market. Eric is a graduate of the Richard Stockton College where he earned a Bachelor of Arts in Business Management. He has since become a Certified Financial PlannerTM professional, obtained his Certified Investment Management AnalystSM (CIMA ®) and earned his Chartered Life Underwriter ® (CLU ®) and Chartered Financial Consultant ® (ChFC ®) designations.Jared Weitz  (@jaredweitz)  has been in the financial services industry for over 10 years. Due to his extensive work experience and deep network of close financial relationships, he handles a multitude of different finance options for his clients and contacts. Over the years, he has held positions in some of the largest business financing companies in the U.S. Some of his roles have been: Underwriter, Director of Business Development, Managing Partner and currently, CEO of  United Capital Source, LLC. Does Renting Your Home Really Mean Youre Throwing Money Away - OppLoans Does Renting Your Home Really Mean Youre Throwing Money Away? Does Renting Your Home Really Mean Youre Throwing Money Away?There are many benefits to home ownership, but its supremacy over leasing isnt nearly as clear-cut as some would have you believe.It’s a question as old as real estate itself: Should you rent or buy? You need a place to live, and those are generally the two options. So which option is better? That’s what you’re reading this article to find out!Of course, there isn’t just one answer that would fit every situation, or else you probably would have learned that answer before coming to this article. However, some people lean far more towards one option than the other.In fact, you may have heard people say that renting a home or apartment is “throwing your money away.” But is it actually? And why would they say something like that?Let’s find out!Homeownership means home equity.  On a basic level, you likely already know the difference between renting and buying something. Typically, if you’re purchasing an item, y ou’ll own that item after you pay money for it. If you’re renting it, then you get to use it for as long as you’re willing to regularly pay for the use.When it comes to a home or apartment, few people will be buying a property with one big lump sum of cash. It’s far more likely that a buyer will take out a mortgage, which is a loan used to pay for a house. The loan is paid down monthly and accrues interest while the home acts as collateral, meaning it will be seized by the bank if the owner can’t make their payments.“When buying a home you can take advantage of tax breaks such as deductions on interest rates and deductions on annual real estate taxes paid based on the assessed value of your property,” explained the experts at Redfin (@Redfin). “Homeowners pay monthly mortgage payments, gradually reducing the principal mortgage amount over time while the property keeps on increasing value, and you as a homeowner can build equity and increase your stake of ownership in the property with every payment.“And if you decide to sell your house you will get enough money to pay off the loan, and earn a little extra that you can use to purchase another house. In contrast, renters still make a monthly payment, but these funds do nothing to contribute to the renter’s long-term wealth.”Because renters do not build equity, many people will claim that renting is “throwing money away.”But there are benefits to renting, too.Of course, renting is not literally the same as throwing your money away. If spending money on something you will not own forever is throwing it away, then why have we been burning cash on all of this worthless food every day?In fact, not only can renting be the more sensible choice in many situations but owning tends to have its own forms of “throwing money away.”“Many people think renting is ‘throwing your money away’ but every person’s situation is different,” advised Ivan Chong, founder of Lazy Finances (@Lazy_Fina nces). “If you plan on moving every few years, renting might make sense over buying. Every time you buy/sell a house, you get hit with closing fees which are a significant amount of money. Mortgage interest, property tax, and homeowner’s insurance are all ‘unrecoverable expenses’ similar to rent, though you can deduct some of them off of your taxes. These effects are amplified in high cost of living areas.”Even if you are certain you want to own a home, that doesn’t always mean the present is the best time to buy one. If the time is not right to buy a home, then renting will actually save you money in the long term, not waste it.“The housing market fluctuates. If you need to sell it is possible that the market may be flat, and you can lose out on your investment,” explained Jared Weitz (@jaredweitz), CEO and Founder of United Capital Source Inc. “Fight this off by following the general rule of looking to buy a home when the interest rates are low, and the market is heading down. There are many hidden costs of home ownership, and renting shouldn’t always be looked at as ‘throwing money away.’“If you plan to spend less than three years in a home and have minimal money saved for a down depositâ€"look at renting. Unless you have 20 percent of a home cost available for a down payment, you will need to also factor in mortgage insurance payments.Additionally, if you look to buy in a condominium or housing community, HOA and maintenance fees will be included in your monthly payment. This adds additional cost to home ownership, making renting more appetizing while you save up.”Figure out what makes sense for you.One of the worst real estate choices you can make is one that you feel pressured into, against your better interests, because of generalizations you’ve been told.“The biggest mistake I see people make is buying a ‘starter home’ simply because they’re ‘sick of throwing away money’ or they feel pressure to take the next s tep into adulthood,” warned Stephen Caplan, financial advisor at Neponset Valley Financial Partners. “All sorts of evidence suggests that many young people end up regretting their home purchase because they didn’t know exactly what they were getting themselves into.The longer you live in a home, the more likely you are to reap the benefits of homeownership. On the flip side, your home purchase can turn into a disaster if your time horizon is too short.”Want to hear about someone’s personal experience navigating these choices? Here you go!“For myself and my husband, we chose to rent for the first 4.5 years of our marriage,” recounted Amanda Kintz, of Crunchy Hippie Life (@MsCrunchyHippie) and author of Dirt Cheap Adult: A Millennials Guide to Life on a Budget. “Renting allowed us options to move almost painlessly to different opportunities as they became available, rather than waiting and stressing about having to sell a house.It also significantly lessened the burden on us as a newly married couple building up their bank account since we didnt have to find things like emergency repairs or home improvements.“While we do own a home now, we are very thankful for the time we spent renting as it allowed us the freedom to save money and explore job opportunities (including moving to three different states!). I know we would not have been able to do that if we had been homeowners.”Older homeowners might be better off renting.It’s always a good idea to examine the specifics of each situation, rather than trying to adhere to general rules. For example, you might think an older person who is not planning to move would be the ideal candidate for home ownership, assuming they can afford it. But that’s not always the case.“As it relates to older clients I will often recommend renting instead of buying especially for second or vacation homes,” explained T. Eric Reich of Reich Asset Management. “Even renting a primary residence can be smart for older clients. My argument for renting is that while you may be physically able to maintain the home today, will you still be able to in 10-15 years?For a 65-year-old, many can’t answer that question confidently. The downside, of course, is that the rental could be sold and you could have to move at an age when you are least inclined to do that so it depends on the rental.“Personally, I’m not going to be climbing ladders or mowing lawns at age 80+ and hiring someone to do that work only adds to the cost of ownership. I’d rather see that money in their pocket working for them instead.As to the concern of leaving your house to your kids, I understand that most everyone wants to do that for their heirs yet almost no heirs actually want it, or if they do, they can’t afford it or afford to buy the other heirs out of it. What heirs really want is cash, not the house and all the issues that come with disposing of it.”Figuring out the best choice for you may not be as snappy a s logan as “renting is throwing your money away.” It does, however, have the benefit of being true more often. To learn more about housing-related financial issues, check out these other posts and articles from OppLoans:A Thrifty Person’s Guide to DownsizingHow Much Money Do You Actually Need to Buy a House?Is Rent-to-Own a Good Way to Purchase a Home?How You Can DIY Your Way to Cheaper Home MaintenanceDo you have a   personal finance question youd like us to answer? Let us know! You can find us  on  Facebook  and  Twitter.Visit OppLoans on  YouTube  |  Facebook  |  Twitter  |  LinkedIN  |  InstagramContributorsAfter spending nearly four years in New York City as an investment consultant, Stephen Caplan moved back home to the Boston area in August 2016 to join  Neponset Valley Financial Partners as a wealth manager. Upon his return, it soon became obvious to Stephen that one particular issue was affecting the financial lives of fellow millennials much more than anything else: st udent debt. Stephen has since become an expert on student loan repayment planning and recently earned the Certified Student Loan Professional (CSLP) designation. His practice focuses on helping young professionals integrate personalized student loan repayment strategies into long-term financial plans.Ivan Chong is a tech executive based in Silicon Valley. Ivan started  Lazy Finances (@Lazy_Finances) to help busy people like himself better understand personal finance and to show them ways to lazily save on their everyday expenses.Amanda Kintz (@MsCrunchyHippie) is a Registered Nurse. After living on an income of just $16,000 with her husband in 2014, Amanda discovered a passion for educating and empowering people to live a lifestyle of wellness in both body and finances. Her creative ideas for living a healthy and financially free life can be found on her blog, CrunchyHippieLife.com, and her new book, Dirt Cheap Adult: A Millennials Guide to Life on a Budget, now available on Amazon and Barnes and Noble.com.Redfin (@Redfin) invented map-based real estate search in the US. Then they hired their own agents to put consumers first. Redfin Agents are accountable for helping clients buy and sell the right home, at the right price.Eric Reich is President and founder of  Reich Asset Management, LLC. He relies on his more than 20 years of experience to help clients have an enjoyable retirement. Using his Enjoyable Retirement Solution, Eric helps retirees maximize retirement income while preserving their principal. He believes that, for many retirees, preserving principal is more important than trying to beat the market. Eric is a graduate of the Richard Stockton College where he earned a Bachelor of Arts in Business Management. He has since become a Certified Financial PlannerTM professional, obtained his Certified Investment Management AnalystSM (CIMA ®) and earned his Chartered Life Underwriter ® (CLU ®) and Chartered Financial Consultant ® (ChFC ®) designations.Jared Weitz  (@jaredweitz)  has been in the financial services industry for over 10 years. Due to his extensive work experience and deep network of close financial relationships, he handles a multitude of different finance options for his clients and contacts. Over the years, he has held positions in some of the largest business financing companies in the U.S. Some of his roles have been: Underwriter, Director of Business Development, Managing Partner and currently, CEO of  United Capital Source, LLC. Does Renting Your Home Really Mean Youre Throwing Money Away - OppLoans Does Renting Your Home Really Mean Youre Throwing Money Away? Does Renting Your Home Really Mean Youre Throwing Money Away?There are many benefits to home ownership, but its supremacy over leasing isnt nearly as clear-cut as some would have you believe.It’s a question as old as real estate itself: Should you rent or buy? You need a place to live, and those are generally the two options. So which option is better? That’s what you’re reading this article to find out!Of course, there isn’t just one answer that would fit every situation, or else you probably would have learned that answer before coming to this article. However, some people lean far more towards one option than the other.In fact, you may have heard people say that renting a home or apartment is “throwing your money away.” But is it actually? And why would they say something like that?Let’s find out!Homeownership means home equity.  On a basic level, you likely already know the difference between renting and buying something. Typically, if you’re purchasing an item, y ou’ll own that item after you pay money for it. If you’re renting it, then you get to use it for as long as you’re willing to regularly pay for the use.When it comes to a home or apartment, few people will be buying a property with one big lump sum of cash. It’s far more likely that a buyer will take out a mortgage, which is a loan used to pay for a house. The loan is paid down monthly and accrues interest while the home acts as collateral, meaning it will be seized by the bank if the owner can’t make their payments.“When buying a home you can take advantage of tax breaks such as deductions on interest rates and deductions on annual real estate taxes paid based on the assessed value of your property,” explained the experts at Redfin (@Redfin). “Homeowners pay monthly mortgage payments, gradually reducing the principal mortgage amount over time while the property keeps on increasing value, and you as a homeowner can build equity and increase your stake of ownership in the property with every payment.“And if you decide to sell your house you will get enough money to pay off the loan, and earn a little extra that you can use to purchase another house. In contrast, renters still make a monthly payment, but these funds do nothing to contribute to the renter’s long-term wealth.”Because renters do not build equity, many people will claim that renting is “throwing money away.”But there are benefits to renting, too.Of course, renting is not literally the same as throwing your money away. If spending money on something you will not own forever is throwing it away, then why have we been burning cash on all of this worthless food every day?In fact, not only can renting be the more sensible choice in many situations but owning tends to have its own forms of “throwing money away.”“Many people think renting is ‘throwing your money away’ but every person’s situation is different,” advised Ivan Chong, founder of Lazy Finances (@Lazy_Fina nces). “If you plan on moving every few years, renting might make sense over buying. Every time you buy/sell a house, you get hit with closing fees which are a significant amount of money. Mortgage interest, property tax, and homeowner’s insurance are all ‘unrecoverable expenses’ similar to rent, though you can deduct some of them off of your taxes. These effects are amplified in high cost of living areas.”Even if you are certain you want to own a home, that doesn’t always mean the present is the best time to buy one. If the time is not right to buy a home, then renting will actually save you money in the long term, not waste it.“The housing market fluctuates. If you need to sell it is possible that the market may be flat, and you can lose out on your investment,” explained Jared Weitz (@jaredweitz), CEO and Founder of United Capital Source Inc. “Fight this off by following the general rule of looking to buy a home when the interest rates are low, and the market is heading down. There are many hidden costs of home ownership, and renting shouldn’t always be looked at as ‘throwing money away.’“If you plan to spend less than three years in a home and have minimal money saved for a down depositâ€"look at renting. Unless you have 20 percent of a home cost available for a down payment, you will need to also factor in mortgage insurance payments.Additionally, if you look to buy in a condominium or housing community, HOA and maintenance fees will be included in your monthly payment. This adds additional cost to home ownership, making renting more appetizing while you save up.”Figure out what makes sense for you.One of the worst real estate choices you can make is one that you feel pressured into, against your better interests, because of generalizations you’ve been told.“The biggest mistake I see people make is buying a ‘starter home’ simply because they’re ‘sick of throwing away money’ or they feel pressure to take the next s tep into adulthood,” warned Stephen Caplan, financial advisor at Neponset Valley Financial Partners. “All sorts of evidence suggests that many young people end up regretting their home purchase because they didn’t know exactly what they were getting themselves into.The longer you live in a home, the more likely you are to reap the benefits of homeownership. On the flip side, your home purchase can turn into a disaster if your time horizon is too short.”Want to hear about someone’s personal experience navigating these choices? Here you go!“For myself and my husband, we chose to rent for the first 4.5 years of our marriage,” recounted Amanda Kintz, of Crunchy Hippie Life (@MsCrunchyHippie) and author of Dirt Cheap Adult: A Millennials Guide to Life on a Budget. “Renting allowed us options to move almost painlessly to different opportunities as they became available, rather than waiting and stressing about having to sell a house.It also significantly lessened the burden on us as a newly married couple building up their bank account since we didnt have to find things like emergency repairs or home improvements.“While we do own a home now, we are very thankful for the time we spent renting as it allowed us the freedom to save money and explore job opportunities (including moving to three different states!). I know we would not have been able to do that if we had been homeowners.”Older homeowners might be better off renting.It’s always a good idea to examine the specifics of each situation, rather than trying to adhere to general rules. For example, you might think an older person who is not planning to move would be the ideal candidate for home ownership, assuming they can afford it. But that’s not always the case.“As it relates to older clients I will often recommend renting instead of buying especially for second or vacation homes,” explained T. Eric Reich of Reich Asset Management. “Even renting a primary residence can be smart for older clients. My argument for renting is that while you may be physically able to maintain the home today, will you still be able to in 10-15 years?For a 65-year-old, many can’t answer that question confidently. The downside, of course, is that the rental could be sold and you could have to move at an age when you are least inclined to do that so it depends on the rental.“Personally, I’m not going to be climbing ladders or mowing lawns at age 80+ and hiring someone to do that work only adds to the cost of ownership. I’d rather see that money in their pocket working for them instead.As to the concern of leaving your house to your kids, I understand that most everyone wants to do that for their heirs yet almost no heirs actually want it, or if they do, they can’t afford it or afford to buy the other heirs out of it. What heirs really want is cash, not the house and all the issues that come with disposing of it.”Figuring out the best choice for you may not be as snappy a s logan as “renting is throwing your money away.” It does, however, have the benefit of being true more often. To learn more about housing-related financial issues, check out these other posts and articles from OppLoans:A Thrifty Person’s Guide to DownsizingHow Much Money Do You Actually Need to Buy a House?Is Rent-to-Own a Good Way to Purchase a Home?How You Can DIY Your Way to Cheaper Home MaintenanceDo you have a   personal finance question youd like us to answer? Let us know! You can find us  on  Facebook  and  Twitter.Visit OppLoans on  YouTube  |  Facebook  |  Twitter  |  LinkedIN  |  InstagramContributorsAfter spending nearly four years in New York City as an investment consultant, Stephen Caplan moved back home to the Boston area in August 2016 to join  Neponset Valley Financial Partners as a wealth manager. Upon his return, it soon became obvious to Stephen that one particular issue was affecting the financial lives of fellow millennials much more than anything else: st udent debt. Stephen has since become an expert on student loan repayment planning and recently earned the Certified Student Loan Professional (CSLP) designation. His practice focuses on helping young professionals integrate personalized student loan repayment strategies into long-term financial plans.Ivan Chong is a tech executive based in Silicon Valley. Ivan started  Lazy Finances (@Lazy_Finances) to help busy people like himself better understand personal finance and to show them ways to lazily save on their everyday expenses.Amanda Kintz (@MsCrunchyHippie) is a Registered Nurse. After living on an income of just $16,000 with her husband in 2014, Amanda discovered a passion for educating and empowering people to live a lifestyle of wellness in both body and finances. Her creative ideas for living a healthy and financially free life can be found on her blog, CrunchyHippieLife.com, and her new book, Dirt Cheap Adult: A Millennials Guide to Life on a Budget, now available on Amazon and Barnes and Noble.com.Redfin (@Redfin) invented map-based real estate search in the US. Then they hired their own agents to put consumers first. Redfin Agents are accountable for helping clients buy and sell the right home, at the right price.Eric Reich is President and founder of  Reich Asset Management, LLC. He relies on his more than 20 years of experience to help clients have an enjoyable retirement. Using his Enjoyable Retirement Solution, Eric helps retirees maximize retirement income while preserving their principal. He believes that, for many retirees, preserving principal is more important than trying to beat the market. Eric is a graduate of the Richard Stockton College where he earned a Bachelor of Arts in Business Management. He has since become a Certified Financial PlannerTM professional, obtained his Certified Investment Management AnalystSM (CIMA ®) and earned his Chartered Life Underwriter ® (CLU ®) and Chartered Financial Consultant ® (ChFC ®) designations.Jared Weitz  (@jaredweitz)  has been in the financial services industry for over 10 years. Due to his extensive work experience and deep network of close financial relationships, he handles a multitude of different finance options for his clients and contacts. Over the years, he has held positions in some of the largest business financing companies in the U.S. Some of his roles have been: Underwriter, Director of Business Development, Managing Partner and currently, CEO of  United Capital Source, LLC.