RENT or BUY - Simple Guidelines
Our aim is to provide the tools and information that will help you decide if buying is right for you. Renting and buying both have advantages, and to calculate which decision is best, it is important to make yourself and your current situation the biggest piece of the puzzle.
Buying real estate can offer significant tax benefits and allow you to build equity all while providing pride of ownership. Renting may appear to be the simple immediate solution, but it is important to carefully weigh the long-term benefits and drawbacks related to renting, all according to your needs.
Below is a table that outlines the positive and negative considerations associated with renting and buying:
| Renting | Buying |
| + Minimal Deposits | + Low Interest Rates |
| + Short-term Commitment | + Long-term Investment |
| + Low Equity Risk | + Potential for Significant Equity Growth and Tax Advantages |
| + Low Maintenance | + Pride of Ownership |
| - Zero Equity Growth | - Possible Down Payment |
| - No Tax Advantages | - Responsible for Property Taxes |
| - Limited Opportunity for Interior Design | - Permitting Process Associated with Renovations |
Learn more about the buying process - find out if now is the right time for you to take the first step towards buying your first property.
MLS Market Reports
Economic and Market Watch Report - Q1 2005