3 Things About Each You Should Know
Renting can be great for a year or two, but it isn’t meant to be a long term plan. You do not own it and usually have to pay additional costs if things break or get damaged. Sometimes you can not get out of the rental agreement without a penalty as well.
Renting is not always private. You may have share certain things like laundry areas and driveways. You may be required to pay extra if you have pets and sometimes, a non-refundable deposit.
Renting can also be stressful if you have a neighbor who is on a different work schedule than you. Maybe the landlord continues to raise the rent and your budget is not agreeing so much. It should be in writing in your rental agreement. Read, READ, and READ!
Buying – You own it! You can paint the home and make it yours, and even park wherever you want (for the most part)!
Buying – There are some tax advantages. Take the time to meet with your tax advisor for exact tax information that will apply.
Buying can be cheaper than renting, and it is a investment!
First time home owners have so many options for great mortgage rates and programs that make it easy and affordable to own your home. Real estate is always a great investment.