Rent vs Buy

                        Renting vs. Buying a Home: 

                       A Comparison

Buying: 

Advantages                     Disadvantages

May build equity and credit                                    Requires substantial money, paperwork up front

No landlord to answer to                                        Could lose money if home values decline

More stability (especially with schools)                  Extra expenses beyond mortgage payments

Possible tax benefits                                              Rising prices & low inventory in many markets

Improve/upgrade home to your taste                     Responsible for repairs, remodeling

Renting

Advantages                    Disadvantages

Fewer upfront costs and paperwork                     Landlord can raise rent or sell the property

Freedom to be more mobile                                 Choices may be limited depending on vacancies

Not responsible for maintenance, repairs             Might have to move multiple times

No need to worry about falling home values         Don’t build equityNo property tax bills

No property tax bill                                                 No tax benefits