The two don’t really compare at all. The one advantage of renting is being generally free of most maintenance responsibilities. But by renting, you lose the chance to build equity, take advantage of tax benefits, and protect yourself against rent increases. Also, you may not be free to decorate without permission and may be at the mercy of the landlord for housing.
Owning a home has many benefits. When you make a mortgage payment, you are building equity. And that’s an investment. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities- like insurance, real estate taxes, and upkeep- which can be substantial. But given the freedom, stability, and security of owning your own home, they are worth it.
During a time when so many people are hunkering down at home, it can be challenging to keep a tidy…
Whether you call it downsizing or rightsizing, the bottom line is you’re moving into a smaller space and have…
Most people have wandered through new home developments and wished their own home looked as modern and chic. Model…
A down payment is the amount of cash a home buyer puts toward the price of a new home.