Buy vs. Rent Comparison Chart
|
Advantages |
Considerations |
Buy |
Property builds equity |
Responsible for maintenance |
Sense of community, stability, and security |
Responsible for property taxes |
Free to change decor and landscaping |
Possibility of foreclosure and loss of equity |
Not dependent on landlord to maintain property |
Less mobility than renting |
|
Rent |
Little or no responsibility for maintenance |
No tax benefits |
Easier to move |
No equity is built up |
  |
No control over rent increases |
  |
Possibility of eviction |