Buy or Rent? 2021

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Real Estate

Renting Pros And Cons
         Pros

Mobility/freedom to move around
Landlord pays for maintenance
Doesn’t require expensive closing costs
No fluctuation in monthly housing expenses
Allows you to test-drive different living spaces

         Cons

You don’t build any equity
Limited ability to customize your living space
Rent could go up over time
Landlord might sell or decide to stop renting
Limited sense of home stability/permanence
Buying Pros And Cons

          Pros

You build equity over time
Home value may increase over time
You may reap tax benefits
Unlimited freedom to customize your living space
Sense of home stability/permanence

          Cons

Closing costs can be prohibitive
Responsibility for maintenance and repairs which requires time and effort
Less flexibility to move (at greater difficulty/expense)
Home value may decrease
Recent tax laws could hamper tax benefits