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Pros and Cons of buying a home versus renting
Buying a home versus renting has many advantages but also brings responsibilities. Some of the main advantages of being a homeowner is the pride of being a homeowner and home ownership. You can feel secure being a homeowner because you will not have a landlord that will tell you that he or she will not be renewing your lease or tell you that you cannot have a dog or cat. Other advantages of being a homeowner is that you can paint your home any color you want without asking for permission, can remodel your home anyway you want without having permission to do so, and do whatever that pleases you without permission. You also have the huge benefit of being able to write off the mortgage interest off your income tax returns and the most important part of it all, you get to build equity and gain net worth as your home appreciates and as your mortgage payment goes towards paying down the mortgage balance. The disadvantages of being a homeowner is that you can no longer count on your landlord to fix your furnace, electrical, plumbing, appliances, etc. You need to do the maintenance yourself and also need reserves in the event a high ticket repair comes along such as a new furnace, air conditioning unit, or other high ticket larger repairs. Attached is an article I recently posted on my website on Pros and Cons of buying a home versus renting.


Here is another popular interesting article I wrote and published on my blog on renting versus buying a home that might be helpful.


Here's another article for first time home buyers on how much home can I afford.



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