People often wonder whether they should buy or rent their home. There are many things to take into consideration, not all of them financial. We’ll cover some of the pros and cons of buying vs renting so you can decide which one would be right for you.
You’ve probably heard the saying 'renting is throwing money away'. This is because people equate renting with giving away your hard-earned cash. You’re not building equity when you rent, so when you move out you cannot sell your property or make money from it.
Renters, on the other hand, do not have to pay for upkeep or repairs. They are able to move whenever they wish depending upon the lease and often only have to pay a penalty if they would like to be released early. It may be…