Advantages of Buying versus Renting

Advantages of Buying versus Renting
Some people would choose to rent rather than buy because it is what they can afford , without considering the long term result. 
 
Here are some comparisons of buying versus renting. 
 
Buying:
 
1. Buying builds equity - if the home's value goes up, you'll get the chance to get more cash when you sell
2. No landlords
3. Can improve or upgrade your own home
4. Fixed mortgage payments
5. Possible tax benefits
6. More freedom to do what you want , example is taking care of pets
 
 Renting:
 
1. Build your landlord's equity
2.  Can't make any renovations or upgrades that you want
3. No control on rent increases
4. Might move multiple times
5. No tax benefits
6. Less likely to allow pets
 
Bottom line is , choose what is right for you and consider long term goals and benefits. It is a good idea to talk to a trusted licensed real estate agent to guide you and help you decide between renting and buying. 
 
 
 
 
 

Popular Posts

Powered by RWARDZ