Rent or Buy—What’s Right for You?

Jun 17, 2013

Maybe you already know if you plan to rent or purchase a property, or maybe you’re trying to figure out the best option—either way, the more educated you are, the better move you can make.

Renting may be an option if you:

  • Plan to move around and don't want to be tied to one location
  • Don't have the funds for a down payment and closing costs
  • Can't afford the potential maintenance costs of owning (repairs, lawn care, etc.)

Buying may be an option if you:

  • Plan to stay in one location
  • Want to build equity over the long-term
  • Have funds for a down payment and closing costs
  • Want the potential tax advantages (check with a tax advisor for details)
  • Can afford the maintenance costs of owning (repairs, lawn care, etc.)

Visit our Decide What’s Right section to find comparisons between the short and long-term costs of renting and buying, and other information to consider in weighing these housing choices.

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