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Buy vs Rent

Updated: Jan 19, 2019

Renting vs buying will usually be decided based upon needs, situation, and market.


Either way you are paying a mortgage. Sometimes the cost to rent is too high or availability to buy is too low.


Other times the flexibility of renting vs stability of buying makes all the difference




Rent

Pro -

Flexibility

Requires less cash

No depreciating value

Minimum maintenance


Con -

No equity

No Tax Benefit

Possible increase in monthly payment.




Buy

Pro -

Build Equity

Home ownership

Tax Benefit

Stable monthly payment.


Con -

Requires more cash

Potential depreciating value

Maintenance and expenses