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Rent or Buy?

It’s an age old question that every young adult must answer at some point: should I buy or rent?

Both sides have equally strong arguments, some of which are:

Pros for buying:

  1. When you pay off your home, its yours. You eliminate the expense of housing once you pay it off.
  2. You’re free to make any cosmetic changes that you want. Painting, remodeling, add-ons, etc. You’re in control and don’t have a landlord telling you what you can and cant do.
  3. Hate moving? You wont have to again for a long time if you choose to buy! Its a long term commitment.
Pros for renting:
  1. You don’t have to pay for maintenance, repairs, or any other issues that may come up.
  2. When you own your home, you pay quite a bit in interest and taxes.
  3. There’s no long-term commitment. Leases can last anywhere from a month to a year.
So as you can see, there are pros and cons to both sides, but at the end of the day, whether you’re paying your rent or your mortgage, at least you have a roof over your head. That’s all that really matters, right?
By: Savannah Richards, Boise River Realty

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