Deciding where you want to live can be a major life decision whether you decide to rent or buy. There are pros and cons to both, which makes it a personal decision based on finances and lifestyle.
If you’re on the fence about whether to rent or buy read ahead and consider your personal benefits and drawbacks.
You know exactly how much you’re going to spend on housing each month
Rent can increase over time
Limited to what you can customize in your rental
Landlord takes care of repairs and maintenance
Limited sense of home stability
Freedom to customize your house
Ability to write off part of the interest
Build equity (personal wealth)