Buying vs Renting

Use this checklist to decide which is best for you:

Advantages of Buying:

  • Property builds equity
  • Tax deduction of Mortgage Interest
  • Free to change decor and landscaping
  • Not dependent on landlord to maintain property

Considerations of Buying:

  • Responsible for maintenance
  • Responsible for property taxes
  • Responsible for Hazard Insurance
  • Less mobility than renting

Advantages of Renting:

  • Sense of community, stability, and security
  • Easier to move

Considerations of Renting:

  • No tax benefits
  • No equity gains
  • Possibility of eviction
  • No control over rent increases

Talk to us!

We’re here to help you every step of the way. Simply fill out our contact form and one of our Expert Loan Officers will get back to you quickly. Have A Question About A Home Purchase, Reverse Mortgage, or Refinance? Call Townstone at 312-896-2110