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:
- When you pay off your home, its yours. You eliminate the expense of housing once you pay it off.
- 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.
- Hate moving? You wont have to again for a long time if you choose to buy! Its a long term commitment.
- You don’t have to pay for maintenance, repairs, or any other issues that may come up.
- When you own your home, you pay quite a bit in interest and taxes.
- There’s no long-term commitment. Leases can last anywhere from a month to a year.