Buying pros: 1. investing and building equity.
2. improving credit
3. longer-term stability
4. greater privacy
5. mortgage interest and property taxes may be tax deductible
Buying cons: 1. process can be complex
2. expensive/costly
3. mortgage payments can be higher than rental payments
4. property taxes are the buyer’s responsibility
5. harder to move
Rent pros: 1. no real estate taxes
2. access to amenities
3. no down payment
4. no maintenance/repair costs
5. cheaper than buying
Rent cons: 1. rent price isn’t fixed
2. may not be allowed to have pets
3. no tax benefits
4. cannot build equity
5. you’re at the mercy of your landlord
