Renting vs Buying

Owning a home may be a lifelong goal for many Americans but that doesn't mean it's for everyone. Homeownership rates are currently high in the US, but this hasn’t always been the case. Historically, families have needed to either build their own homes or rent a home from someone else. Although it may not be ideal, renting does have its advantages. For some people renting might make more sense for their financial circumstances. Below are 10 of the main advantages of

RENTING vs BUYING:

1)    No Maintenance Costs or Repair Bills
2)    Sometimes There Is Access to Special Amenities
3)    No Real Estate Taxes
4)    No Down Payment
5)    More Flexibility As To Where To Live
6)    Few Concerns About Decreasing Property Values
7)    Flexibility to Downsize (or Upsize)
8)    Fixed Rent Amount (during Lease Term)
9)    Lower Insurance Costs
10)  Lower Utility Costs

And here are some advantages of

BUYING vs RENTING:

1)    Pay Your Own Mortgage Instead of Your Landlord's
2)    Control Your Own Space
3)    Build Personal and Generational Wealth
4)    Enjoy More Home Options
5)    Put Down Roots For Yourself and Your Family
6)    Enjoy The Emotional Benefits of Ownership
7)    Experience Greater Financial Stability (No Rent Increases!)
8)    Experience Greater Housing Security (No Move Notices!)
9)    Be Part of the Community!
10)  Explore Optional Investment Income (Rent out a room, the garage, or the whole house!)