|
Rent vs. Buy Comparison Chart
|
| Column1 |
Advantages |
Considerations |
|
BUY |
Property builds equity over time |
Responsible for maintenance
and repairs |
|
Sense of security, community, and stability |
Responsible for property
taxes and assessments |
|
Free to redecorate, upgrade,
and landscape |
Possibility of foreclosure
and loss of equity |
|
Not dependent on landlord
to maintain property |
Less mobility than renting - cannot just pack up and go |
| |
|
|
|
RENT |
Little or no responsibility for maintenance |
No tax benefits |
|
Easier to move |
No equity build-up |
|
|
No control over rent increases |
|
|
Possibility of eviction |
|
|