Rent vs Buy
The Rent VS Purchase Decision
If you are a renter, you may have often wondered, should I stay put or jump into purchasing my own home? Which is better? Well, it depends. Which costs more? Well, it depends. There are a lot of factors to consider and renting works for people in many situations. Likewise, purchasing a home can be a great decision and investment for many. Keep reading for a quick breakdown of the important factors:
When renting, your costs are generally fixed for the term of the lease. In some cases, utilities (or a portion of them) are part of the fixed costs. Often, a large portion of rent and a security deposit is required up front. In most places, when a lease ends, the landlord is free to increase rent, and, at any
time, they can sell your home!
As a homeowner, the landlord (you) cannot sell without your permission. Usually, if you require financing, your...