BUYING VS RENTING

Advantages of Buying versus Renting

Buying	Renting
Tax write-off	No tax write-off
You can upgrade your home as you see fit	Need permission to make any changes
Build equity in your home as value appreciates	Your money goes toward the landlords equity
Control of loan payment options	Rent can increase periodically
Pride of homeownership	You have no ownership

Disadvantages of Buying versus Renting

Buying	Renting
You're responsible for property maintenance	Your landlord or manager handles general repairs
Need to sell, rent or lease property in order to re-locate. May have to wait until market conditions are right	Freedom to move once your lease expires
You pay for all your own utilities, property taxes and insurance	May include utilities, property taxes, and property insurance
Home improvement upgrades can run into thousands of dollars	You're not financially responsible

I think that owning outweighs renting! I just need to scrape up a down payment...right now is the best time to buy in Rocky Point!