Renting vs. Owning

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.



Renting

  • 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

Owning

  • Home stability

  • Freedom to customize your house

  • Ability to write off part of the interest

  • Build equity (personal wealth)




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