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