Graphic To rent or buy?
Are you ready to take the plunge into ownership?
Whether you should rent or buy is a complex and personal question. The answer depends on your finances and affordability in your area but also on whether or not you feel ready for the commitment of owning a home.
Key Takeaways:
Deciding whether to rent or buy may be one of the most significant financial decisions you’ll face in your life.
Although buying a home can come with advantages, such as ownership, investment opportunity and tax advantages, it can also represent a major financial and time commitment.
Renting can provide greater flexibility and may be easier to qualify for but doesn’t allow you to build equity or profit if home prices rise.
In addition to personal factors, you should consider real estate and rental prices in your area when making your decision.