Buying vs Renting: Let's take a look at some pros and cons

To buy or to rent... that is the question.⁠
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While everyone's situation is different, there are some pros and cons to both renting and buying that apply to most scenarios.

"Landlords grow rich in their sleep without working, risking or economizing." - John Stuart Mill

"The bottom line: Investing in real estate is smart because property  is tangible. People always have and always will need a shelter." -Kathy Fettke, Investor

RENTING PROS

- Landlord pays for maintenance

- Flexibility to move around

- No closing costs

- No housing expenses

RENTING CONS

- You don't build equity

- Limited customization to home

- Rent increases overtime

- Landlord might sell

BUYING PROS

- You build equity over time

- Home value may increase

- Tax benefits

- Complete freedom to customize

BUYING CONS

- Closing costs

- Maintenance responsibilities

- Less flexibility to move around

- Home value may decrease

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