There is a big difference between owning a home or renting a property.
Buying a home has been considered as the greatest investment for most Americans.
Renting has been seen as a choice for someone who has no plan to stay for an extended time in one place.
Be it buying or renting, each and every person has his own reasons for their choice.
The advantage of buying a home is you are paying monthly payments for your home ownership and building equity for your home. You are paying for something that will be yours in the future whereas when renting you are building the landlord’s equity. When you own, you have all the freedom on what you would like to do with your home. You are responsible of the repair and maintenance costs.
The disadvantage of purchasing a home is that it requires a good credit and is a long term commitment for the term of the loan. It is important you understand the responsibilities required of home ownership.
Renting is for someone who is adventurous and may transfer from one place to another. It is also an option for someone who is not yet secure in their finances.
We will help you analyze and decide whether to rent or buy. Call now!
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