Step 1: Compare the pros and cons of renting and buying.close
Sure, renting has its advantages: convenience, flexibility and maybe lower cost. But sometimes buying a home can be the smarter option, especially if you dislike having a landlord and sharing walls with neighbors and want to build your financial net worth.- Start by seeing what homes are available and get an idea of home prices in your area.
- Then use our Rent vs. Buy Calculator to compare the costs of renting and buying.
- Even if buying a home costs more, consider the benefits of tax breaks, appreciation, the chance to build wealth and the ability to borrow against the equity in your home. Plus, you'll never have to worry about annual rent increases and fees.
- Read more about the pros and cons of homeownership.
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