. Where do you see yourself in 10 years? Maybe you have kids, maybe you are married. Hopefully you will have your own house by then!

Persuasive Speech Outline I. Introduction A. Close your eyes. Where do you see yourself in 10 years? Maybe you have kids, maybe you are married. Hopefully you will have your own house by then! B. Important terms that you will need to know throughout this speech include i. mortgage- lien against your house by the bank who gives you money to fund your purchase, money borrowed from the bank to finance your house (money borrowed from the bank) ii. all cash- when you pay 100% of the asking price in cash and don’t take out a mortgage iii. equity- ownership stake in your home (how much at you own at the point in time versus how much the bank owns) i. Example: House price equals $100,000. 10% of $100,000 equals $10,000. $10,000 is your equity stake. Your original downpayment is your original equity share. iv. mortgage interest rates -interest you pay on the mortgage (money borrowed from bank) —> ultimately your paying more because of interest • benefit is you aren’t paying whole price right away so money isn’t tied in property and is still accessible to you v. downpayment -money required to take out a mortgage loan. No bank will finance a loan 100%. You have to put down a downpayment. vi. financing -borrowing money from a bank. When you are taking out a mortgage you are financing your home C. This is a real life situation that all of my classmates will come across at one point in their life (here I will include a visual aid as I say this and explain why it is relevant to my classmates) D. Why this speech is relevant to you guys is that hopefully within the next 10 years buying or renting a home will be a reality E. The benefits of buying a home is a great lesson to be learned, especially in college II. SOCI A. Throughout this speech, I am going to discuss the benefits of buying a house vs. renting a house and why buying a house will ultimately help you save money longterm, and I will discuss alternative solutions depending on different situations. B. My central idea will be developed by describing the advantages and disadvantages of owning vs. renting and relate it to the different situations of different people (I will use comparison/contrast organization to organize my body and differentiate the pros and cons of my message) 1. Benefits of buying 2. Disadvantages of buying (This is where I will present the counter arguments) 3. Disadvantages of renting 4. Benefits of renting (This is where I will present the counter arguments) 5. Solutions III. Body (Transition: I am now going to describe the benefits and disadvantages of buying) C. Benefits of buying 1. Gain equity in two ways. a. original equity = downpayment b. Every monthly mortgage payment you make you gain a larger equity stake in your home. c. when you buy a house all cash you are paying the whole price, leaving yourself with no money for other emergencies etc. 2. Fixed monthly Payment to help budget (when you rent your monthly payment because the owner can do whatever he wants—> he owns the house). When you have a fixed mortgage it is the same payment for the term of the loan 3. It is your house and you can’t get kicked out unless you pay the mortgage (for closure). This is when the bank takes your house because you cant pay (here I will appeal to emotion and bring in a personal example—> 2008 mortgage and lending economic crisis) D. Disadvantages of Buying (this is where I will briefly present the counter argument) 1. If you don’t pay your mortgage the bank can take your home 2. Have to know you realistically want to stay in the same place for a lot of years 3. You are immobile-some may argue that this is a disadvantage because for example if you get a job opportunity in another state you cant just pick up and move, you need to sell your house first which could take years. 4. A lot of expenses in owning a house including taxes, maintenance like gardening, plumbing, property taxes, school taxes etc.) (Transition: I am now going to describe the benefits and disadvantages of renting) D. Disadvantages of renting 1. You are not gaining any equity because you are paying the owner’s/landlords mortgage and he is gaining the equity instead because he owns the property not you (when we rent we help pay the owners mortgage) so stop paying owner’s mortgage and pay your own 2. You are subject to a rent change. At any time the owner can raise the rent price on you 3. When the lease is over you may have to move some where else which can be costly because there are many fees involved (ex. brokers, moving, etc.) E. Advantages of renting 1. keeps you mobile and for some people this is better if they do not have a steady job or plan to be in a state for so long 2. No property taxes (Transition: I am now going to discuss some solutions pertaining to different situations) F. Solutions 1. If you want to live somewhere short term it makes sense to rent 2. If you see yourself living somewhere long term it makes sense to buy (Transition: You have now learned about the advantages and disadvantages of renting vs. owning a house. What I want to do here is provide an internal summary reminding my listeners of what I just covered before I conclude my speech) IV. Conclusion A. Today you have learned about the pros and cons of buying vs. renting a house, regarding equity, mobility, and B. In ten years when you are deciding on your first home I hope that you consider what I have taught you today so you can save money and live better lives in the future. (This will be my clincher) In my conclusion I hope to imply the call of action throughout the speech but bring up what I actually want them to do in conclusion

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