Renting or Buying

If you are considering buying a home, one of the first decisions you need to make is whether buying a home instead of renting one is the right direction for you. Since owning a home is the "American Dream", many people simply assume that it's always to their advantage to buy a home, and for most, it is. Take a moment to review the following table to see how your situation fits in. Our Rent/Buy Calculator may be of some help to you. On the Mortgage Calculators page, scroll down until you find the Rent vs Buy Calculator.

MORTGAGE CALCULATORS DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your own financial advisor.

Buy	Advantages	Considerations
	Property builds equity	Responsible for maintenance
	Sense of community, stability, and security	Responsible for property taxes
	Free to change decor and landscaping	Possibility of foreclosure and loss of equity
	Not dependent of landlord to maintain property	Less mobility than renting

Rent
	Little or no responsibility for maintenance	No tax benefits
	Easier to move	No equity is built up
		No control over rent increases
		Possibility of eviction

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Renting or Buying

Advantages and Considerations