Renting vs Buying a Home
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I am the landlord of this home, how can I help you?
I am looking to either buy or rent this house but I don't know which I should choose?
I would suggest buying because it has many advantages! It can even reduce the amount you pay in income taxes each year.
Awesome! Could you tell me about the disadvantages?
I wrote a few of them down for you!
That's very helpful, Thanks!
Disadvantages of Buying a Home LiabilitiesUtility billsFlexibilityRisksPlace
Advantages of Buying a Home More privacyReal estate increases in value overtime customize/renovateInterest paid on mortgage is deductible
Also, buying a home requires a down payment, which is the initial payment when you choose to purchase the house.
I definitely want to buy this home!
Perfect! The mortgage is $200,000. This means that your monthly payment will be $912.10 over the span of 30 years with 3.625% interest