FAQ

Renting and owning a home offers distinct advantages and disadvantages that don’t directly compare.

Advantages of Renting:

•Freedom from most maintenance responsibilities.

•Flexibility to relocate more easily.

However, renting comes with limitations:

•No opportunity to build equity.

•No tax benefits.

•Exposure to potential rent increases.

•Limited freedom to decorate or modify your living space.

•Dependence on a landlord for housing stability.

Advantages of Owning a Home:

•Builds equity with each mortgage payment, contributing to an investment.

•Provides tax breaks to help offset financial responsibilities like insurance, real estate taxes, and maintenance.

•Offers freedom to customize your living space.

•Provides long-term stability and security.

While homeownership comes with significant responsibilities and costs, many find that the benefits of freedom, stability, and investment potential make it a worthwhile choice.