• Buying Vs. Renting

  Filed under Finances
  Jul 8

  The decision to purchase a home, is one of the biggest choices you’ll make in your lifetime. The choice to buy, over renting a home, has its advantages and disadvantages.

  As far as the Advantages, you get a nice tax write-off, you can fix and upgrade your home whenever you want, you can build equity as the market increases in value, and you can control your payment options. The disadvantages are that you are responsible for maintenance, you pay property taxes and insurance, and if you need to move, selling can be extremely difficult if the market isn’t in your favor.

  In the long-run, purchasing a home can save you money. You have the chance to watch your investment appreciate in value. However, the circumstances have to be right. An unseen economic crisis or unexpected unemployment could cost you more than you can handle. Though these circumstances are impossible to predict, under the right circumstances, purchasing a home can be rewarding.

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