| Buy or Rent?
Buy a home can be one of the most important decisions you'll make. Use our chart below to help you decide what's best for you and your family. 
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Buying - Advantages
-Over time, your mortgage balance decreases.
-Ability to remodel and decorate as you wish.
-Possible tax advantages to home ownership.
-No noisy neighbors.
-Stability
-Security
-Great investment! |
Buying - Disadvantages
-Variable Costs
-Equity may go up, down, or may stay stagnant.
-If you have to move, home must be sold.
-Work needs to be done by you and paid for by you.
-Generally a larger downpayment.
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Renting - Disadvantages
-No matter what, you never gain equity.
-Limited, or no ability to personalize your living space.
-No tax advantage for renting. |
Renting - Advantages
-More fixed costs for the term of the lease.
-Though not gaining equity, not losing it either.
-When the lease is up you can just move.
-There is less work in maintaining an apartment.
Smaller amount of "up-front" costs. |
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