Renting Vs. Buying

The decision to purchase a home is not always an easy one. There are pros and cons to home ownership that should be considered before you make a decision.

Renting may be the better choice if you are in a job that requires you to frequently change locations, if you are working on saving money for a down payment, if you don�t want to worry about doing your own repairs and maintenance, or if you like the freedom of knowing that you can move easily at the end of a lease term without the concern of selling a home first. On the other hand, the benefits of home ownership usually outweigh those of renting. The main advantage of home ownership is the investment you are making in the home. Many people would rather see their monthly housing payment go to building equity in a home rather then paying a landlord money that they will never see again. Real estate taxes paid on a home are also deductible. This can lead to a significant deduction, especially in the early years of a loan. Use our Renting vs. Buying Calculator to see which option is best for you.