Rent vs. Own: How to Decide Whether to Rent or Buy a Home

1-10-2010

The benefits of buying a home seem almost endless. No upstairs or downstairs neighbors, you get your own yard, there are no restrictions on pets, and you can remodel without having to get permission. There are also many financial and emotional benefits when you buy a condo or house. Home ownership provides multiple tax incentives and the ability to make money on your investment. While home ownership has plenty of appeal, it’s also one of the most difficult financial decisions facing young people. Consider these five questions when deciding whether to rent or buy.