Renter vs Homeowner
“It’s less expensive to rent, and now may not be the right time to buy.”
A home is one of the most expensive purchases most of us will ever make during our lifetime. Whether you decide to rent or buy, either choice comes with its own rewards and risks. Homeownership offers many advantages over renting including:
While owning your own home has many benefits, there are still risks to consider:
However, all things considered, homeownership is by far one of the best single investments you can make given the potential long-term benefits.
You may be surprised how much home you can afford for the same rent check you’re sending in now, especially when you consider the tax advantages of homeownership. And unlike rental costs, your monthly principal and interest payments will stay the same for the life of a fixed-rate mortgage. Plus, as a homeowner, you’ll be building wealth as your home equity grows.