Village Life

Renting vs. Buying

July 7, 2021
The question of renting or buying can be a complicated one. It depends on a number of factors, and there's no blanket answer to which one is better for you. Your financial situation, personal preferences, area you live, and more all play a part. Let's look at the pros and cons of both.


Renting Pros and Cons


Pros
  • Easier to move around
  • Most maintenance is covered by the landlord
  • No expensive closing costs
  • You can try out different types of living space
Cons
  • You're building any equity
  • Less options to customize your living space
  • Rental prices increases
  • Limited feeling of home stability

Buying Pros and Cons


Pros
  • Build equity over time
  • Home value can increase over time
  • Tax benefits
  • Can customize your home however you want
Cons
  • Expensive closing costs
  • Responsible for all maintenance and repairs
  • More difficult to move
  • Home value could decrease
If you'd like to talk more about your personal situation, reach out to one of our agents today! They can walk you through all the options and give you an honest analysis of which is better for you.

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