Renting vs Buying a home
Updated: 2/18/2020
Renting vs Buying a home

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  • I am wondering whether to rent or buy a home?
  • There are advantages and disadvantages for both.
  • Some disadvantages for renting are that you can't build equity with the home as the years go on, and you can't change the home or tear down walls.
  • Some advantages for renting are less maintenance work, and you can easy move from place to place if you get a new job.
  • Some disadvantages are that you end up paying more because of interest, and it is a huge investment.
  • Some advantages of buying a home are that the value of your home increases as time goes on, and you can rearrange it however you would like.
  • I think buying a home sounds like the right choice for me.
  • Great! Now you will just have to figure out your down payment, which is is the initial 5-25% of money paid upfront
  • Along with that, you will have to figure out the monthly payment you want to make for your house, a smaller interest leads to paying more overall