Comparative Essay
ASSIGNMENT INSTRUCTIONS
Write a 750-1000 comparative word essay about a pair of items in which the similarities and differences of those items are compared and contrasted in the style described within Unit III. Please note that the Comparative Essay Final will be due in Unit IV of this course. However, you should complete the entire paper in this draft and do your best work as you will have more applicable feedback from which to make changes to your essay for the final draft.
Assignment Purpose: Throughout Unit III, we have discussed the conventions of the comparative essay. The purpose of this assignment is to measure your mastery of those conventions by putting your knowledge into practice. In a larger context, the purpose of writing a comparative essay is to gain the skills of detecting similarities and differences between at least two items and then using those similarities and differences to create knowledge about either one or both of the items. In this way, the comparative essay is a tool used for both observation and analysis.
Process: For the comparative essay, you will complete the following steps:
- Choose a pair of topics that complement one another: See the suggested list of topics in the “Comparative Essay Topics Handout” below in the supplemental documents portion of these instructions.
- Create a list of similarities and differences: See Unit III, Lesson 2, for more instruction about how to create a list.
- Create a thesis statement based on similarities, differences, or both similarities and differences: See Unit III, Lesson 3, for more information about how to create a thesis statement.
- Choose whether to organize your essay by point or by subject: For an essay organized by point, see Unit III, Lesson 4, and the “Comparative Essay Example: Essay Organized by Point” below. For an essay organized by subject, see Unit III, Lesson 5, and the “Comparative Essay Example: Essay Organized by Subject” below.
- Consult the “Comparative Essay: Final Self-Check List” below before submission.
Stylistic details: All essays must meet the following requirements:
- 750-1000 words.
- Write in Times New Roman, 12 pt. font.
- Include one-inch margins on all sides.
- Use double spacing (top-to-bottom every page, to include above and below titles and centered words).
- Include an APA title page (for all essays) and reference list that includes all of the sources used in the essay.
- Include page numbers (upper-right corner only).
- Adhere to APA convention and documentation style.
- At least one source is required. All sources used must be cited.
SAMPLE STUDENT ANSWER
A Comparative Analysis of Renting and Owning
It is the dream of every American to own a property. However, owning a home or a piece of land is an expensive venture, especially in the current economy. According to the US Census Bureau, the current US homeownership rate is 64.8% (Statista, 2022). The rate has declined since 2004 when it was above 69% (Statista, 2022). Therefore, people opt to rent a house in the event they cannot afford to buy one. Choosing to rent or buy a house or a piece of land, though, is a major decision that impacts one’s lifestyle, financial health, and personal goals.
Whichever option one selects depends entirely on their financial status and lifestyle. While renting and owning are similar in that they both require agents, applications, and signing of the contract, the difference is that in renting, the property becomes a person’s temporary property, lasting the period agreed upon with the landlord or an agent, and in owning, it becomes an individual’s permanent property.
Renting and owning a property are similar in that they all need an agent. When one wants to rent property, the individual is most likely to meet an agent to act as the middle person between the property owner and the renter. In some establishments, renters are needed to pay their rental fees to the agents who will channel the money to its owners. Renters seek agents’ help to search for a property that suits their needs (Hulse et al., 2019). Owning homes also needs agents.
It is common for property buyers to seek help from real estate agents to help them search for properties located in better areas depending on their needs. An agent often ensures that there are numerous properties to view before one decides to buy permanently. Some property owners need buyers to pay money through their agents. Renting and owning are property needs agents and applications must be made to get the agents.
Renting and owning a property are similar in that they both need application. A person who needs to rent a property needs to apply through agents. This process allows the property owner to gain access to the renter’s information and determine whether he or she is genuine or not. An application form will also show the financial status of the buyer or renter to check whether he or she can pay rent as per the agreement (Filippas et al., 2020).
People who want to own property should also feel application forms. The application will help properly owners know whether the buyer can afford the property. Data from the application can help the seller know the tax history. Though the application is needed when renting or owning a property, in both cases, contracts must be signed.
Renting and owning a property is similar in that a person who wants to own or rent a property must sign a contract. A person who wants to rent a property must sign a contract to show that they have rented it. This contract prevents them from exploitation by the person renting the property. A person who wants to own property must also sign a contract to show that buying the property has been transferred to him or her. Though renting and owning are similar in many ways, the terms of the contract are often different.
Renting and owning property are different in terms of ownership. A person who has rented a property temporarily owns it. The individual does not have full custody of the property. In renting; the renter is required to pay the fee monthly, quarterly, or yearly as indicated in the contract form (Mostafa & Jones, 2019). A person who has rented a house is not sure whether he or she will be able to pay for the property for a long time. If the owner wants it back, the individual will be noticed and the property will be returned to him or her. Renting a property is also expensive.
If the individual pays a rent of $2000 per month, the person will have reached the original price of the house in eight years, but the property will still not be his or her. However, a person who owns a property gets permanent ownership. This individual is sure of the security of the property. Nobody can claim it again if permanent contract ownership was signed. A person who has bought a house or land permanently will have assurance and security that the property will remain his or her forever. Though a person is needed to pay huge sums of money to acquire a property permanently, it process is cheap in the long run.
Though owning property might be expensive and difficult, in the long term, permanent ownership is cheap and more secure. A person who owns a property will not have stress about being told to get out of the property by its original owner. However, if an individual cannot buy a property permanently, the person can rent it as he or she prepares to buy it in future. It can be concluded that owning or renting a property is dependent solely on the financial health of an individual.
References
Filippas, A., Horton, J. J., & Zeckhauser, R. J. (2020). Owning, Using, and Renting: Some Simple Economics of the “Sharing Economy”. Management Science. https://doi.org/10.1287/mnsc.2019.3396
Hulse, K., Morris, A., & Pawson, H. (2019). Private renting in a home-owning society: Disaster, diversity or deviance?. Housing, Theory and Society, 36(2), 167-188. https://www.tandfonline.com/doi/abs/10.1080/14036096.2018.1467964
Mostafa, A., & Jones, C. A. (2019). The Financial Returns from Buying versus Renting: The experience of first time buyers in different regions of Britain. Journal of European Real Estate Research, 12(1), 112-133. https://researchportal.hw.ac.uk/en/publications/the-financial-returns-from-buying-versus-renting-the-experience-o
Statista. (2022). Homeownership rate in the United States from 1990 to 2021. https://www.statista.com/statistics/184902/homeownership-rate-in-the-us-since-2003/
Jermaine Byrant
Nicole Johnson
OVER
RATING
YEARS
